What does designer, Billy Reid have in common with a bronze swan and $300,000? Those were his rewards after winning the prestigious CFDA / Vogue Fashion Fund yesterday evening in New York. Runner-ups, Prabal Gurung and Eddie Borgo also received $100,000 and a bronze egg for their noteworthy design achievements. The winner and the runners-up will each meet with an assigned business mentor based on their specific needs to help guide them on their fashion quest.

Last night’s event featured a keynote speech from the always lovable Karl Lagerfeld. Just gawking at Lagerfeld is fascinating, so hearing him speak seems like an inspiring and entertaining affair.

With the Vogue Fashion Fund now being in its seventh year, this event is undoubtedly changing the way we look at emerging talent and helps rocket these stars to the forefront of fashion.

[via CFDA]