Marta Marques and Paulo Almeida of the label Marques' Almeida, founded in 2011, have been awarded the second annual LVMH Prize for young fashion designers.

The winners were chosen by a star-studded jury that included Marc Jacobs, Karl Lagerfeld, Raf Simons, Riccardo Tisci, Phoebe Philo, JW Anderson and Nicolas Ghesquière.

The Portuguese designers will receive €300,000 in prize money plus a year of personalized assistance from LVMH teams in areas such as intellectual property, marketing, production and distribution.

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Designer Simon Porte Jacquemus won a Special Prize for his brand Jacquemus, founded in 2010.