Peter Pilotto has been awarded the first ever Swarovski Collective Prize, worth $28,610. The prize, which celebrates innovation in light of the 15th anniversary of the luxury crystal maker's fashion creative platform, saw 14 labels from London, New York and Paris compete for the win.

Pilotto beat Mary Katrantzou, Marques Almeida, Prabal Gurung, Rodarte, Iris Van Herpen and Masha Ma to be crowned the inaugural Swarovski Collective Prize winner. He said that together with his design partner, De Vos, the duo will use the prize money for fabric research and manufacturing, and to experiment with new techniques and work with suppliers they admire, according to a report by WWD.

"Peter Pilotto has a unique aesthetic," said Nadja Swarovski, a member of the company's executive board. "Christopher [De Vos] and Peter presented two beautiful collections which showcased the versatility of our product and how it could be incorporated into, as well as complement their own strong brand signature. It's been interesting to watch them experiment so successfully with our crystals over the past two seasons. In addition, we were also very pleased to see the evolution that has taken place in their own collections recently, and to be a part of that process."

"For both spring 2015 and autumn 2015, Peter Pilotto explored an abundance of bold new applications and materials, from Perspex to 3-D florals, which they then contrasted with more delicate Swarovski crystals. In the last collection we loved the icy flowers embroidered in contrasting wool which were decorated with bright, large stones to create a very unique, romantic and futuristic motif," Swarovski added.