Whether it's launching new programs like the sustainability committee, or adding 32 new designers as reported in today's WWD, lately it's all about growth for the Council of Fashion Designers of America.

Earlier this month we got a glimpse of J.Crew's CFDA collaboration--featuring designs from this year's CFDA/Vogue Fashion finalists Jennifer Meyer, Tabitha Simmons and The Elder Statesman. Today the complete collection landed in our inbox.

Who stood out in fashion this year? From the most buzzed about model to the hotspot no one saw coming to the coolest new French brand, read on for who we think made the biggest splash in the fashion industry in 2012.

This week, Greg Chait of The Elder Statesman took home the top prize at the CFDA/Vogue Fashion Fund Awards, earning a $300,000 investment, mentorship, and the official endorsement of Vogue. The fact that The Elder Statesman's cashmere sweaters and The Row's perfectly-constructed t-shirts have beat out the more fanciful and intricate designs of their contemporaries is a telling indication of what direction the luxury market may be headed in--namely, back to basics. After years of increasingly over-the-top runway looks and a lightening fast trend cycle, discerning consumers seem to be searching for items with more permanence--and they're willing to pay a premium price for it.

When Greg Chait of The Elder Statesman was named the winner of the ninth CFDA/Vogue Fashion Fund we're not gonna lie--we were a little surprised. His line of luxurious hand-spun cashmere blankets and knits beat out bigger brands with more buzz like SUNO, Wes Gordon, and even Voguette Tabitha Simmons. So who is Greg Chait and how did he manage to snag one of the most prestigious awards in fashion? We caught Chait on the phone yesterday before he headed back out to Los Angeles, where his five-year-old line is based, to ask him. From interning with Whitney Houston to making blankets, Chait's journey into the fashion industry may not have been direct but it just won him $300,000 and some serious recognition.

The CFDA/Vogue Fashion Fund has named its latest round of winners.

Vogue and the CFDA have assembled another promising bunch of young labels to compete for a chance to win the coveted CFDA/Vogue Fashion Fund this year

The winner will receive a cash prize and mentorship from an industry veteran. Joseph Altuzarra took home the top prize ($300,000) for 2011, while runners up Pamela Love and Creatures of the Wind got $100,000 each. All three of them got to design a capsule collection for J. Crew. And, it was all documented on a Hulu show. Now, the following designers will embark on a series of challenges over the next few months, including presenting to a panel of judges, creating a one-of-a-kind piece for Tiffany & Co., and staging a runway show in Los Angeles at the Chateau Marmont. The winner and runners up will be announced at a gala dinner November 13. So, without further ado, the finalists are...