LVMH Moët Hennessy Louis Vuitton has launched the Young Fashion Designers Prize, which aims to celebrate a young designer each year, with the winner receiving a grant of €300k and personalised assistance from an LVMH team for 12 months.

The luxury goods brand will also recognise three recent fashion school graduates, offering them an opportunity to join the design team at an LVMH brand for a year. The jury is made up of some of fashion's biggest names, including Karl Lagerfeld, Nicolas Ghesquière, Marc Jacobs, Humberto Leon, Carol Lim, Phoebe Philo, Raf Simons and Riccardo Tisci.