LVMH Prize 2020 has been officially cancelled due to coronavirus pandemic. Every year, LVMH unites industry giants with young creative minds to uplift new fashion generations. The eight finalists were supposed to gather at the Foundation Louis Vuitton on June 5 in Paris to present their collections to industry insiders.

This year, the panel of judges included Virgil Abloh, Rihanna, Stella McCartney, Marc Jacobs, Nicolas Ghesquière and many more.

The cash prize of €300,000 will be distributed evenly among the eight finalists: Priya Ahluwalia, Charaf Tajer, Nicholas Daley, Peter Do, Sindiso Khumalo, Tomo Koizumi, Supriya Lele and Emma Chopova and Laura Lowena.

According to Bof, LVMH has also pledged to support previous winners of the prize with a new fund. The six previous winners of the LVMH Karl Lagerfeld Prize that includes names such as Hood by Air, Jacquemus and Kozaburo, will also be eligible for support.

“Since its launch, the LVMH Prize has promoted and nurtured young talent,” said Delphine Arnault in a statement. “Each year, it places the spotlight on young designers from all over the world and supports the development of their companies. In this challenging context, this fund in aid of young fashion designers highlights the main mission of the LVMH Prize by supporting our former winners.