The Next Marc Jacobs, Courtesy Of LVMH

Want to know who the next Marc Jacobs is? We think it could be any one of the 30 semi-finalists for LVMH’s recently announced Young Fashion Designers Prize. Thomas Tait, Simone Rocha (pictured), and Meadham Kirchhoff are just some of the ultra-talented Brits nominated for the award, while Suno designers Erin Beatty and Max Osterweis, Creatures of the Wind’s Shane Gabier and Christopher Peters, and Stella Jean’s Stella Maria Jean Novarino round out the international list.

But, the nominees can’t start celebrating their success quite yet. During Paris Fashion Week, all candidates will be required to display eight examples of their work at the LVMH HQ. The creations will then be judged by the crème de la crème of the industry, including Natalie Massenet, Carine Roitfeld, and Patrick Demarchelier. The experts will edit the list down to just ten finalists who stand to win a $409,750 prize, alongside a year’s mentorship by the company. In this tricky economic climate, which fashion business couldn't use this kind of support? No pressure, guys.

As LVMH's executive vice president Delphine Arnault explains: “I think it’s a great thing to support fashion and support designers. It’s really our responsibility to find the talents…and to help them grow.” Who’s up for a good-natured bet on the winner? (WWD)