Lazaro Hernandez & Jack McCollough, the design duo behind the Proenza Schouler. label, were awarded top honors and the grand prize of $200,000 as the winners of the CFDA/Vogue Fashion Fund Contest held in New York on October 14. Designer Alexandre Plokhov of Cloak and Nicole and Michael Colovos of sportswear line Habitual captured the runners-up slots, receiving $50,000 cash each. The recipients of the awards underwrote by Vogue, Barneys New York and the Kellwood Company, will be meeting regularly with a team of business mentor to assure that the money is used wisely.

Out of the initial group of 170 designers, considered eligible to compete for the prize, 52 participants received callbacks to Phase II and in July 2004 the 10 finalists were determined.

Dispensing the top honors and the cash as well as celebrating the designers who made the finalist cut, the event has gathered over 250 of New York City’s fashion, media and retail VIPs, plus Mayor Bloomberg, at Skylight Studios to raise a toast to the arising fashion talent, as eyeballed by the CFDA/Vogue committee.

Launched in September 2003, the CFDA/Vogue Fashion Fund Awards was established to support the creative and business development of top-tier emerging designers.