With the LVMH Prize for young fashion designers around the corner, the French luxury group have curated a panel of 45 prominent figures to help conglomerate LVMH Moët Hennessy Louis Vuitton narrow the possible candidates to a group of ten.

Influencers from the worlds of retail, publishing, and image creation feature on the new committee including iconic editors Franca Sozzani, Emmanuelle Alt, Cathy Horyn, Suzy Menkes, Stefano Tonchi, Viriginie Mouzart and Anya Ziourova. Celebrated photographer Juergen Teller, retailer Maria Luisa Poumaillou and bloggers Susie Lau and Chiara Ferragni also feature in the high-profile committee.

Meanwhile, founder and executive chairman of Net-a-Porter Natalie Massenet, president of Saks Fifth Avenue Marigay McKee and Adrian Joffe – chief executive of Comme des Garçons and Dover Street Market return to the committee for the second year running.

Over 700 hopeful designers have applied for the prestigious LVMH Prize for young fashion designers ahead of the February 8 2015 deadline. The committee will help LVMH whittle the young prospect 'stars of tomorrow' down to a group of just ten – who will then compete in a second phase to win $364,640 cash and a year of coaching from LVMH executives.

The handful of designers that make the cut will then present their work to an all-star jury in May, which includes Karl Lagerfeld, Marc Jacobs, Nicolas Ghesquière, Raf Simons, Phoebe Philo, Riccardo Tisci and Jonathan Anderson.

Louis Vuitton's Delphine Arnault, who is an avid talent scout and a supporter of young designers, created the LVMH Prize for young fashion designers. The winner will be announced in June this year.