Being a fashion designer takes a toll on your pocket as fabric, fashion shows, models, and photographers’ costs eventually add up. Luckily, there are many awarding fashion bodies that are not only backed by notable names in the fashion industry, but with tons of cash prizes. Every year, these awarding bodies look for fresh, new designers, to award cash and mentorship to.
The Young Fashion Designer Prize is open to designers from every country, as long as they have produced at least two collections and they are under 40 years old. The award is worth a whopping 300,000 euros and in addition to the monetary grant, the winner also benefits from twelve months of financial and personalized support from LVMH.
The Graduate Prize is open to students who will graduate from a fashion school within the specific year that they are applying for. The three winners will receive a grant of 10,000 euros each and an opportunity to work as a part of one LVMH brand for one year.
(3) H&M Design Award:
The H&M Design Award is open to bachelors or masters students who are graduating from selected fashion schools within their year of application. The winner will get a 25,000 euro cash prize as well as an opportunity to participate in a six-month, paid internship with H&M’s design team.
The Fashion Scout Merit Award is for London-based fashion designers, and it offers them 25,000 pounds over the course of three seasons. It was founded in 2009 and it has helped many UK fashion designers meet notable buyers and important people in the fashion industry.
(5) CFDA Award:
The Council of Fashion Designers of America awards 300,000 dollars to the winner of the prize. The two runner-ups also receive 100,000 dollars each. To qualify, the brand must have been around for at least two years, be based in the United States, and have received editorial coverage. If you win this award, you could have Beyonce’s daughter, Blue Ivy peering at you in the audience!