A creation by designer Mary Katrantzou during the 2014 Spring/Summer London Fashion Week ©AFP PHOTO / ANDREW COWIE

A creation by designer Mary Katrantzou during the 2014 Spring/Summer London Fashion Week
©AFP PHOTO / ANDREW COWIE

(Relaxnews) – The final six candidates for this year’s Fashion Fund award have been announced ahead of the ceremony on January 28, 2014.

Designers Emilia Wickstead, House of Holland, Mary Katrantzou, Osman, Peter Pilotto and Zoe Jordan are all in with a chance of taking home the coveted prize next month, which is designed to foster emerging British-based fashion talent.

Peter Pilotto 2014 Spring/Summer show at London Fashion Week ©AFP PHOTO / ANDREW COWIE

Peter Pilotto 2014 Spring/Summer show at London Fashion Week
©AFP PHOTO / ANDREW COWIE

The winner will take home a £200,000 (approx. US$328,000) grant to invest in their label as well as high-level business mentoring from industry leaders.

Organized by the British Fashion Council and Vogue magazine, the prize is in its fifth year and also celebrates the 25th birthday of the British Fashion Council.

Over the past five years, hotshot designers Erdem, Christopher Kane, Jonathan Saunders and Nicholas Kirkwood have all taken home the award, helping to grow their labels in both the UK and on the international stage.

jt/cm