PARIS, Aug 29 ― A week before the young designers are judged at the LVMH Prize awards ceremony, which will be held on Wednesday, September 4 at the Fondation Louis Vuitton in Paris, LVMH has decided to rename the Special Prize in honour of late couturier Karl Lagerfeld, according to Women's Wear Daily (WWD).

Karl Lagerfeld was a strong supporter of the contest, having served on the final jury of the LVMH Prize a number of times, sharing his experience with the young finalists. The couturier himself got his start in 1954 after receiving top honours at the International Woolmark Prize, in a tie with Yves Saint Laurent.

The renamed Special Prize, which comes with a €150,000 prize and one year of mentorship by a dedicated LVMH team, will be awarded during the sixth edition of the competition.

“Karl Lagerfeld, creative director of the house of Fendi since 1965, was involved in the prize since its launch,” said LVMH director and executive vice president Delphine Arnault, the godmother of the prestigious design contest. “He was fully committed to it since Day One, transporting us with his enthusiasm and his energy, sharing with everyone, whether other jury members or candidates, his culture and his passion for fashion. We shall always cherish those precious moments.”

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Anrealage, Bode, Hed Mayner, Kenneth Ize, Thebe Magugu, Bethany Williams, Phipps and Stefan Cooke are in the running for the coveted LMVH Prize, which has previously been awarded to the likes of Hood by Air, Jacquemus, Marques'Almeida and Marine Serre. ― AFP-Relaxnews