Karl Lagerfeld’s death was announced on 14 February and the fashion world crumbled in grief. Now French luxury conglomerate LVMH (Moët Hennessy – Louis Vuitton) has renamed its special prize to the Karl Lagerfeld Prize in honour of the fashion icon.

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? The Karl Lagerfeld Prize ?? The Special Prize will now proudly be named the Karl Lagerfeld Prize. #lvmhprize #lvmhprize2019

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The annual award will offer an upcoming fashion designer $165 000 (R2.5 million) and a one-year mentorship with executive at Louis Vuitton. The 2019 annual prize will be presented on 4 September 2019 in Paris.

Prior to his death in February Karl Lagerfeld served as a Judge on the then named Special Prize, which South African designer Thebe Magugu is a finalist of.

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