Tipsnews

Yu Prize Backs Private Policy, Alienant, and More

Yu Prize Backs Private Policy, Alienant, and More

The annual fashion contest launched by millennial investor Wendy Yu in 2020 has announced this year’s recipients at Digital Shanghai Fashion Week. The Yu Prize scouts and incubates the most prominent homegrown talents in China and with growing interest in the country’s emerging designer scene, it’s become a barometer of local talent. 

The 2022 edition has launched two additional awards: Yu Prize Li-Ning Grand Award and Yu Prize Rising Voices Award — in collaboration with UGG. Shenzhen-based winners Ponder.er, founded by creative duo Alex Po and Dereck Cheng, will develop a capsule collaboration with Li-Ning to be launched in-store and online later this year. The Rising Voices Award went to the designer who could reimagine two classic UGG styles, and was claimed by Yuchen Han founder of high-end fashion label Alienant. 

yu-prize-award-2022-winners

Yu Prize has revealed its 2022 edition recipients. Photo: Courtesy of Yu Prize

The Yu Prize Creative Impact Award finalists include Louis Shengtao Chen, Private Policy, Ruohan, Victor Wong, and Yirantian. The creatives will have the opportunity to showcase their collection during Shanghai Fashion Week, present at the Sphere showroom during Paris Fashion Week, obtain a 12-month mentorship with OTB Group, and receive support from Harrods and Xiaohongshu (this edition’s sponsors), on top of a cash prize. 

The hotly anticipated Yu Prize Gala has been postponed indefinitely due to the ongoing pandemic sweeping through Shanghai. Still, the award itself managed to attract an extensive portfolio of partners and resources. Flo Xu, founder of the sustainable fashion consultancy Project Flow, believes that from a branding perspective, the challenge is very relevant for designers. “It has a solid reputation in the fashion industry, the jury panel is really good, and Wendy Yu can offer great commercial partnerships.”

However, she also pointed out that those incentives would be even more valuable to even newer talents. “They tend to choose established names compared to Woolmark where you can always spot new faces,” Xu adds. To apply for the Yu Prize, designers are required to have presented at least two collections, and show evidence of a successful commercial record with retailers. This year’s line-up, Private Policy and Yirantian have already received many acknowledgments and are distributed by many stockists worldwide so they are are they more advanced end of that spectrum. 

Given the great local and global exposure of the contest, Yu Prize could shine the spotlight on lesser-known designers — especially as international buyers still can’t visit the country. This is where the partnership with global retailer Harrods comes in. But it’s not a one-sided for the 173-year-old: aligning with emerging talents helps the prestigious London-based name tap into the rising guochao trend and rejuvenate its image in China.

Yu Prize 2022 edition Jury Panel. Photo: Courtesy of Yu Prize

Ultimately, the Yu Prize is one way for up-and-coming brands to climb up the ladder and expand their global awareness. As the competition further cements its reputation and breeds new faces, perhaps one day it could be regarded as China’s Woolmark Prize.

Read More

Exit mobile version