LVMH has unveiled the 20 semifinalists for the 12th edition of its prestigious LVMH Prize, with Chinese designer Xiang Gao, founder of the brand Penultimate, making it to the next stage. The selected designers will present their collections during Paris Fashion Week, held from March 5 to 6. An expert committee will then choose eight finalists. These 20 brands will compete for a grand prize of 400,000 euros ($430,000) and will also receive mentorship from the LVMH team across various fields, including sustainability, marketing, manufacturing, and legal matters. Additionally, the winner of the Karl Lagerfeld Savoir-Faire Award will receive a 200,000 euros ($215,000) prize and a year of guidance.