Friday, November 26, 2010 03:44 PM EST
or Council of Fashion Designers of America and Vogue recently held its 7th
Annual Fashion Fund Awards at Skylight Studios in New York. As expected, almost
everyone who's who in the fashion industry was present in the event. Some of
the guests were Carey Mulligan, Leighton Meester, Kim Kardashian, Mary Kate Olsen, Ed Westwick,
Karl Lagerfeld, Chanel Iman and Carolina Herrera.
Karl Lagerfeld & Carey Mulligan
Leighton Meester & Prabal Gurung
Diane von Furstenberg & Yvan Mispelaere
The Fashion Fund program pioneered in 2003 with the intention of helping out up and coming talented designers. Over 100 design businesses applied this year and the Selection Committee chose 10 worthy finalists, whose names were announced last July. The prize? Full-on support for the designer including useful resources and meetings with business mentors. Naturally, a cash prize is also awarded to the winners. This year, $300,000 was given to the winner and $100,000 for the runners-up. The cash prize increased significantly, a decision made by CFDA President Diane von Furstenberg and Vogue Editor-in-Chief Anna Wintour. I'm sure all the finalists were very excited about that.
Prabal Gurung, Billy Reid, & Eddie Borgo
highlight of the night was surely the awards time when Karl Lagerfeld was
joined by Carey Mulligan on stage to announce and award the winners. The
runners-up were jewelry designer Eddie Borgo and RTW designer Prabal Gurung,
who both received the cash prize and a special bronze egg made by acclaimed
sculptor Rachel Feinstein. The winner of this year's Fashion Fund Award is
Billy Reid, a very talented designer who was also named 2010's Best Menswear
Designer by GQ.
event (fashion-related or not), the age old question "Who was
best-dressed?" will always be present. So who was the best-dressed? Well,
it's kind of hard to answer if all the candidates are either A-List celebrities
or fashion veterans. Nevertheless, everyone was looking chic and fab. More importantly, everybody was showing support to a commendable cause - keeping fashion alive.