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Satoshi Kuwata, founder of Setchu, a brand that blends Eastern and Western cultures, has won the 2023 LVMH Prize for Young Designers. This prize is the largest and most prestigious award in the fashion industry, and Kuwata will receive 400,000 euros (approx. $429,000) and a year of mentoring from an LVMH executive. The Karl Lagerfeld special jury award was given to Luca Magliano of Magliano, an Italian men’s wear brand, and Julie Pelipas, founder of Bettter, a Ukrainian women’s wear brand based on repurposing dead stock. Both of them will receive 200,000 euros and a year-long mentorship.
Why It Matters: Bridge-building Takes Center Stage
The LVMH prize indicates trends in the fashion industry, especially with young designers who respond to the political and social concerns of their generation. The choice of Kuwata emphasizes the importance of cultural exchange and functional clothing, such as Setchu’s ribbed pullover that can be transformed into a gilet and a cardigan. The winner was chosen by eight LVMH designers and three senior executives.
Luca Magliano states winning the Karl Lagerfeld award is like “a coronation,” and Kuwata compares meeting the designer jury to meeting the “Greek gods.”
Background: LVMH is a Prince Maker
LVMH is the world’s largest luxury conglomerate, with over 75 brands. The LVMH prize was established in 2014 to support new talent and expand understanding of fashion’s origin. Any designer under 40 who has produced two ready-to-wear collections can apply. This year, 2400 designers applied from all over the world, and nine finalists were chosen. Past winners include Nensi Dojaka, Simon Porte Jacquemus, and Grace Wales Bonner.
Kuwata, who graduated from Central Saint Martins in London and worked at Givenchy, Gareth Pugh, and Edun before starting his own line, plans to use his prize money to expand into accessories and create his own e-commerce business. He aims to become a “heritage company” like one of LVMH’s maisons.
What’s Next: Expand the Business
Each winning designer has a plan for their windfall. Pelipas plans to create software to industrialize dead-stock production, Magliano will enlarge his design team, and Kuwata will use his prize money to find office space and expand into accessories and e-commerce.
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