It's no secret that winning the ANDAM award can change a designer's career so Anthony Vaccarello is waking up with a smile today. The Paris-based designer was chosen by a 22 strong panel including Emmanuelle Alt and Hilary Alexander, to win this year's award beating other nominees like Adam Kimmel and Commuun.

Vaccarello has won $282,00 and $14,100 worth of Swarovski crystals to use for his S/S12 collection as well as a mentorship program with former Chloé CEO Ralph Toledano. This isn't the first time the young designer has won a prestigious award. A few years ago he won first prize at the Hyeres Festival landing a two-year placement under Karl Lagerfeld at Fendi.

Mary Katrantzou just took a big step forward in her career, and after a standout collection at London Fashion Week, it looks like she's onto something. The Swiss Textile Federation chooses one young designer each year to give a €100,000 prize, €10,000 of which is dedicated to purchasing Swiss fabrics. The recipients usually fall into the ones-to-watch category. Case in point: last year's winner, Alexander Wang, who's about to open his first stand-alone shop in New York's Soho district.

This year, congratulations go to Katrantzou, who beat out Jason Wu, Duro Olowu, Damir Doma, Adam Kimmel and Juun J for the top spot. And what can we expect from the textile star's next collection? She told British Vogue: "It's a progression of this [collection]. It's not as thematic, and it's darker than this season...The thing is, if I say too much, then it will give it away. Like with this collection, if I had said 'rooms', it would have given it away completely."

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In November of this year, the Swiss Textile Federation will give away it's international fashion prize, the Swiss Textiles Award, for the 11th time.

The cermemony will take place in Zurich and the young  designer who wins, can expect a generous prize of up to 100,000 euros. The lucky finalists in the competition are Mary Katrantzou, Jason Wu, Damir Doma, Juun J, Adam Kimmel and Duro Olowu. The panel of experts who choose the winner are newly elected each year. This year’s team of experts includes Glenda Bailey, Harper’s Bazaar, USA; Vanessa Friedman, Financial Times, UK; and Silvano Vangi, Luisa Via Roma, Italy. A winner has to show creativity and innovation the judges have said whilst, also displaying commercial viability. The event will be presented by last year's winner Alexander Wang.