The coveted Andam fashion prize for emerging talent on Monday announced a more than 25-percent increase in its endowment, to 220,000 euros (307,000 dollars).

The Paris-based prize, founded in 1989 and backed by the French state, is one of the world's oldest institutions promoting new stylists. They may be of any nationality but must work in France or plan to develop operations there.

Heading the jury this year is Vogue Paris editor in chief Carine Roitfeld, with the awards set for Paris Fashion Week in October, and details on

Last year's winner was London's Giles Deacon, the second consecutive British designer to scoop the prize after Gareth Pugh.

Fresh funds for the award were provided by new sponsors Only The Brave Group (Diesel, Maison Martin Margiela, Viktor & Rolf, etc) and Canadian department store group Hudson's Bay Company.