Change We Need.(CFDA/ VOGUE Fashion Fund prize )

This past November, at a dinner in New York, we celebrated the fifth year of the CFDA/ VOGUE Fashion Fund prize. The winner was Alexander Wang, a fantastically energetic and focused young man who just a few years ago worked as an intern at this magazine. Secondary prizes were awarded to Sophie Buhai and Lisa Mayock of Vena Cava and to milliner Albertus Swanepoel.

For all ten finalistsand, indeed, for all of the winners and finalists of years pastit was a magical evening. John Galliano was the keynote speaker, and he gave an emotional and candid recounting of his journey from the souks of Gibraltar to the House of Dior. I have known John since his Central Saint Martins debut, yet I have never heard him speak publicly, with such honesty and kindness, about how he has managed to sail so gracefully on fashion's choppy seas without ever compromising his punkily robust historicist vision. I know all of the designers were inspired by his words.

I was touched to see so many of the guests wearing clothes by Fashion Fundrecognized labels and looking so terrific and modern for it. In just five years, this award has given money ($1.5 million), mentoring, and a real platform to an emerging generation of American talent. There's a community spirit to the undertaking that is just right for our evolving times: The finalists swap business strategies (from growing eco-fibers to building niche ...