The design team and Hollywood, Proenza Schouler, favourite took home the CFDA/Vogue Fashion Fund Award last week. Designer Alexandre Plohkov, of menswear brand Cloak, and Nicole and Michael Colovos, of sportwear line Habitual, won the runners-up slots.

The CFDA/Vogue Fashion Fund Awards was launched in September 2003 to pormote and support creative and business development of up-market new designers. The underwriters of the award - Vogue, Barney's and the Kellwood Company - allotted $300,000 prize money to the competition. $200,000 is awarded to the winner with $50,000 going to each of the runners-up.