Last night Billy Reid took home the CFDA/Vogue Fashion Fund award, an honor ranking the Louisiana-born menswear designer among past year's winners Sophie Theallet, Alexander Wang, Rogan Gregory of Rogan, Doo-Ri Chung, Trovata and Proenza Schouler’s Lazaro Hernandez and Jack McCollough.
The award, currently in its seventh year of existence, was created to help cultivate emerging young talent within the fashion industry. In addition to a cash prize of $300,000, winning designers are also recipient to a mentorship program offered up by major names in the biz, WWD reports. Prabal Gurung and Eddie Borgo were announced as runners-up, with each receiving a whopping $100,000 to help develop their businesses.
Though this is undoubtedly a prestigious and major achievement for Reid, he's no stranger to awards and accolades. Earlier this year, Reid was honored with the "Best New Menswear Designer in America" title, presented by GQ magazine and the CFDA.
