The CFDA(Council of Fashion Designers of America) and Vogue Magazine have announced this year's ten finalists have been named for the CFDA/Vogue Fashion Fun initiative, which will provide business mentorship and as well the financial funding for its winner.
2010 is the seventh time a winner will be announced to receive an award endowed with $200,00 trophy money, whereas the two runner-ups will be put off with a consolation prize worth $50,000.
The finalists and their brands are the following:
Joseph Altuzarra (ALTUZARRA), Billy Reid (BILLY REID), Christian Cota (CHRISTIAN COTA), Eddie Borgo (EDDIE BORGO), Gregory Parkinson (GREGORY PARKINSON), Oliver Helden and Paul Marlow (LODEN DAGER), Moss Lipow (MOSS LIPOW), Pamela Love (PAMELA LOVE JEWELRY), Prabal Gurung (PRABAL GURUNG), Robert Geller (ROBERT GELLER)
The selection process will be taking place in end of July and consist of individual interviews with the nominees, reviews of their latest collections as well as a visit to the design studio of each contestant.
The final decision will be announced in New York City on November 15 during a gala dinner.
Amongst the now-famous winners and runners-up of previous years' CFDA/Vogue Fashion fund are designers like Alexander Wang, Proenza Schouler, Thakoon, Philip Lim, Derek Lam and Rodarte.
Among the famous mentors were industry professionals like Howard Socol (ex-CEO of Barney's, Rose Marie Bravo (ex-CEO Burberry Group), Domenico de Sole and Mark Lee (both ex-CEO of Gucci).
The CFDA/Vogue Fashion Fund was created to support designers with a business perspective and is aimed to help them and their brand built a secure future and develop their overall strategy, their production, marketing, PR and sales.
Let's keep our eyes open about who's going to make the race... and how all the publicity will help the other nominees to establish themselves solidly within in the industry