SEE ALL OF THE 2016 CFDA/VOGUE FASHION FUND FINALISTS HERE

The Council of Fashion Designers of America (CFDA) and Vogue magazine have announced the 10 finalists of the 2016 CFDA/Vogue Fashion Fund during a cocktail party hosted by Jack McCollough and Lazaro Hernandez at the Proenza Schouler boutique in SoHo last night.

McCollough and Hernandez, the winners of the inaugural CFDA/Vogue Fashion Fund in 2004, shared their insight and advice with the 2016 finalists before announcing them at the event.

The 2016 finalists are: Adam Selman of his eponymous label Adam Selman; Beckett Fogg and Piotrek Panszczyk of Area; Laura Vassar and Kristopher Brock of Brock Collection; Chloe Gosselin of her eponymous label Chloe Gosselin; Ji Oh of her eponymous label Ji Oh; Stirling Barrett of Krewe Du Optic; Morgan Curtis of Morgan Lane; Maryam and Marjan Malakpour of Newbark; Laurence Chandler and Joshua Cooper of Rochambeau; and Chris Stamp of Stampd.

Over the course of the next few weeks, the CFDA/Vogue Fashion Fund Selection Committee will meet with each finalist to review their current collections, conduct in-depth interviews and visit their design studios. The finalists will participate in a special design challenge underwritten by Intel. In October, the finalists will travel to Los Angeles where they will present several looks at a fashion show at the Chateau Marmont underwritten by Kate Spade New York.

In addition to invaluable mentorship by established designers and industry executives, the winner will receive a monetary prize of $400,000 and the two-runners up take home $150,000 each. The winner and two runners-up will be announced at a gala dinner in New York City on November 7.

“The CFDA/Vogue Fashion Fund helps designers develop and grow their businesses through mentoring and financial support,” said Steven Kolb, president and CEO of the CFDA. “It is globally recognized by editors and retailers as a source for new talent and for jumpstarting the careers of important American designers.”