Each year, the Dorchester Collection–owner of such well-known hotels as London’s the Dorchester, the New York Palace (former residency of Chuck Bass) and the Beverley Hills Hotel–awards an endowment to an up and coming designers of ready-to-wear or luxury clothing and/or accessories. Called the Dorchester Collection Fashion Prize, any U.S. based designer who has consistently operated their brand for two years may apply. (Last year the prize went to British designer Thomas Tait.) The winner will receive $40,000 to help further establish their line and also have the chance to display their collection during Paris Fashion Week in 2012 at Hôtel Plaza Athénée.

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