Making the Cut Season 3 Trailer: Heidi Klum and Tim Gunn Search for the Next Global Fashion Brand

The search for the next great fashion brand is back!

Making the Cut, the acclaimed Prime Video series led by hosts and executive producers Heidi Klum and Tim Gunn, is returning for its third season on the streaming service this August and PEOPLE has the exclusive premiere of the show's fashionable trailer.

Like in previous cycles, each week, designers from around the world will be tasked at creating two designs — an "accessible look" and a "runway look" — which they will present in a fashion show. The winner's accessible look, with additional color options and companion pieces, will be available for viewers to purchase on Amazon in the Making the Cut store.

"This is your chance to show us, the judges, and the world what your brand is all about," Klum, 49, says in the trailer. "Make it amazing."

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James Clark/Prime Video

Judges Nicole Richie (actress and House of Harlow 1960 creative director) and Jeremy Scott (fashion pop icon and Moschino creative director) will be on hand to help Klum pick the winners, while pop superstars Chloe x Halle, A-list stylist Jason Bolden and fashion TikToker Wisdom Kaye will make appearances as guest judges throughout the season.

Gunn, 68, will help the contestants hone their designs, telling them at one point in the trailer, "Get the judges voices out of your heads," after some tough critiques.

"You know what I wrote about these looks? Nothing!" Scott, 46, tells them. "It was a waste."

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James Clark/Amazon Studios

The ultimate winner will collect the final $1 million prize to invest in their business, plus a mentorship with Amazon Fashion. The winner will also have an opportunity to create an exclusive co-brand with Amazon Fashion and launch their existing brands in the Amazon Fashion store.

Judging from the trailer, this will be Making the Cut's most competitive season yet, with talent spanning from the United States, England, Canada, Brazil, China and Switzerland. The previously announced designers are: Chyanne Morgan (Watts, Los Angeles, California); Curtis Cassell (Brooklyn, New York); Emily Bargeron (Savannah, Georgia); Gabriella Meyer (Chicago, Illinois); Georgia Hardinge (London, England); Jeanette Limas (Philadelphia, Pennsylvania); Markantoine Lynch-Boisvert (Montreal, Canada); Rafael Chaouiche (Curitiba, Brazil); Sienna Li (Harbin, China); and Yannik Zamboni (Zurich, Switzerland).

There will also be stunning runways set throughout Los Angeles' diverse backdrop, from Rodeo Drive in Beverly Hills to the unique desert landscape of Vasquez Rocks.

James Clark/Amazon Studios

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"I'm so excited for the viewers to meet our designers for season 3," Klum said in a statement to PEOPLE. "We have such an extraordinarily talented group and it really is an honor to help introduce them to our Making the Cut audience. They all put so much passion and heart into their work so I'm thrilled they will gain new fans and that their winning designs will be accessible to Amazon shoppers."

"The talent is truly remarkable this season," added Gunn. "It's an honor to work with Heidi and our fabulous judges Jeremy and Nicole to give these emerging designers the opportunity to show the world what their brand is all about."

Making the Cut premieres Aug. 19, with two episodes dropping each week on Prime Video. The show's epic finale is scheduled for Sept. 9.

James Clark/Amazon Studios

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Making the Cut first premiered in March 27, 2020. Previous series winners include season 1's Jonny Cota (Los Angeles, California) and season 2's Andrea Pitter (Brooklyn, New York).