New CFDA star

This year's winner of the CFDA/Vogue Fashion fund will be announced this Thursday. This year the star-studded judging panel of the Council of Fashion Designer of America will include Anna Wintour, Narciso Rodriguez, Barney's Fashion Director Julie Gilhart and Marc Jacobs Presiden Robert Duffy.

The panel will have to decide the fate of the winner, casting their vote in the morning. In total 137 contestants participated in the competion, and it is now down to ten finalists. These finalists - Libertine, Edmundo Castillo, Cloak, Proenza Schouler, Peter Som, Habitual, Behnaz Sarafpour, Doo Ri, Dean Harris and Derek Lam - were required to hand in portfolios including their business sales, employees and salaries. The finalists were then asked to present their portfolios to the panel of judges. Anna Wintour, the formidable editor-in-chief of US Vogue expressed her respect for the courage, conviction and enthusiasm expressed by the contestants.

New York City Mayor Michael Bloomberg is to present the winner with a $ 200,000 prize. The winner will also receive a year of industry mentoring. The two runners-up will each receive $ 50,000. All the finalists will feature in a 20-page story shot by Arthur Elgort for the November issue of US Vogue.