2022 LVMH Prize jury rewarded young fashion designers, and Cate Blanchett, Louis Vuitton’s Nicolas Ghesquière and Delphine Arnault were there with advice and support
- Small fashion labels big on sustainability took the 2022 LVMH Prize awards, from Steven Stokey-Daley of S.S. Daley to Idris Balogun of Winnie New York
- Actress Cate Blanchett, who attended the ceremony, is a proponent of sustainable fashion and was impressed by how the finalists prioritise responsible practices
The resilience of the luxury industry during the coronavirus pandemic has been nothing short of remarkable.
Even at the height of the Covid-19 crisis in 2020, top brands such as Chanel, Dior, Hermès and Louis Vuitton managed to thrive – and raise the prices of some of their key products to deal with surging demand.
This success often came at the expense of smaller labels as, in such uncertain times, high-end consumers felt more comfortable investing in timeless brands rather than taking a bet on niche designers.
A crisis, however, can also be a source of creativity by making small businesses more resourceful and focused.
This year, the main prize went to Steven Stokey-Daley, 25, the British founder of S.S. Daley, while the jury awarded the Karl Lagerfeld Prize – named after the late designer of Chanel and Fendi – to Los Angeles-based Eli Russell Linnetz, 31, founder of ERL, and British-born, New York-based Idris Balogun, 29, of Winnie New York.
