Must Read: Setchu Wins 2023 LVMH Prize, What the Apple Vision Pro Means for Fashion
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Photo: Imaxtree
These are the stories making headlines in fashion on Wednesday.
Setchu wins 2023 LVMH prize
On Wednesday, Satoshi Kuwata of Setchu was announced the winner of LVMH's 2023 Prize for Young Designers. The 39-year-old Milan-based designer will receive $429,000 in prize money, as well as a year of mentoring by LVMH executives, writes WWD's Robert Williams. Now in its fourth season, Setchu beat out 21 other semi-finalists, including two runners up: contemporary Italian menswear brand Magliano and Bettter by Julie Pelipas, a London-based Ukrainian designer — both of which received the Karl Lagerfeld Prize, which includes half the prize money as well as a year of mentorship. {WWD/paywalled}
What the Apple Vision Pro means for fashion
If the fashion business needed any more proof that the future is here, Apple’s announcement of the Vision Pro, a new augmented reality headset, did just that. For Business of Fashion, Marc Bain reports that this incoming fusion of the physical and digital offers fashion companies a variety of ways to reach the customer quicker and more effectively. From immersive e-commerce retailers to hyper-realistic showcases for products, extended reality could very well be the future of fashion. {Business of Fashion/paywalled}
Wales Bonner wins BFC/GQ Designer Fashion Fund Award
The British Fashion Council announced independent designer Grace Wales Bonner, founder of Wales Bonner, as the recipient of this year's BFC/GQ Designer Fashion Fund. A panel of British industry experts selected the designer to receive a prize of £100,000, as well as a custom year-long business mentorship and pro-bono legal services from Sheridans. “It is a great affirmation for myself and my team as we continue on our journey. Receiving this kind of support is very meaningful to us as an independent brand,” shared Wales Bonner in a statement. {Fashionista inbox}
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