The fashion designers of tomorrow? Step forward the 12 finalists of Moet Hennessy Louis Vuitton’s young designer prize.

London based talents and have made the cut along with CG by Chris Gelinas, Gabriele Colangelo, Shayne Oliver’s Hood by Air, Simon Porte Jacquemus, Miuniku by sisters Nikita and Tina Sutradhar, Tillmann Lauterbach, Tim Coppens, Suno by Eric Beatty and Max Osterweis, Vika Gazinskaya, and Julien Dossena for his brand Atto. (Dossena also designs Paco Rabanne).

LVMH has its finger firmly on the pulse when it comes to heroing and financing the most influential design talent in the industry – it’s a fashion powerhouse with , , , , Nicholas Kirkwood and already in its stable.

The competition was open to designers under 40 years old who have at least two ready-to-wear collections under their belt and the shortlist has just been announced following a three-step selection process involving 1,221 applications.

The all-star jury whose job it is to pick one winner includes Nicolas Ghesquiere, , Karl Lagerfeld, , , Riccardo Tisci and creative directors Humberto Leon and Carol Lim.

The prize? 300,000 euros plus support and business guidance from the LVMH teams for 12 months. LVMH will also be awarding three young fashion graduates at 10,000 euro grant and a year long internship with an LVMH brand.

The winner will be announced in Paris on 28 May. Naturally, we’re backing the British brands. Fingers crossed for Simone Rocha and Thomas Tate.