This weekend, Hollywood's top talent will vie for Oscar gold. But in the fashion world, it's another set of nominees that are the ones to watch.

Today, LVMH announced the 21 designers who have been shortlisted for the luxury conglomerate's fourth annual LVMH Prize for Young Fashion Designers, an initiative created by the group to help "drive the momentum and emergence of fresh talent that is essential to the vitality and diversity of the fashion ecosystem, a role that is perfectly in phase with the responsibilities of the world leader in luxury." The winning designer will win €300,000 and a year of mentorship from executives at the luxury conglomerate.

This year's group of nominees spans 14 countries, and, for the first time, sees more menswear designers than womenswear. The designers will be cut down to eight finalists during Paris Fashion Week, where they will all show their wares to the competition's jury of 45 "international fashion experts," which includes photographers Patrick Demarchelier and Juergen Teller, makeup artist Pat McGrath, and models Karlie Kloss, Natalia Vodianova, and Kendall Jenner, as well as many top magazine editors. From there, the official jury--which is comprised of fashion designers Karl Lagerfeld, Marc Jacobs, Phoebe Philo, and Riccardo Tisci, among others--will determine the winner on June 16th at the Fondation Louis Vuitton in Paris.

For now, get to know the 21 designers competing for the prize, here.

Abasi Rosborough
Menswear designers based in New York City, co-founders Abdul Abasi and Greg Rosborough met while attending the Fashion Institute of Technology. Launching their brand in 2013, the duo focus on reconstructed basics, such as cargo pants and kimono jackets.

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Originally founded as a jewelry line, designer Yoon Ahn transformed her collection, based in Tokyo, into a full-fledged line of unisex clothing that has already caught the eye of Louis Vuitton, Maison Kitsuné, Sacai, and Undercover, all of whom have done collaborations with the brand.

Angus Chiang
Inspired by Taiwanese street culture, Chiang founded his namesake line of brightly hued menswear in 2016 with an emphasis on the grown-up novelty sweater.

Stocked by Net-A-Porter, Bergdorf Goodman, and Neiman Marcus, among other top retailers, Paris-based designer Antonin Tron's line of streamlined wardrobe staples has quickly become a go-to for French It-girls--and those who want to dress like them.

Korean designer JiSun Park crafts genderless clothing with a heavy emphasis on detailing, from oversized belting to grommet embellishments.

Celcilie Bahnsen
Upon graduating from the Royal College of Art in London, the Danish designer developed her eponymous contemporary collection which finds inspiration from traditional techniques including quilting, patchwork, and appliqué embroidery.

Charles Jeffrey Loverboy
Scottish Born designer and illustrator Charles Jeffrey graduated just two years ago from Central Saint Martins and has already made a name for himself as London's newest go-to menswear designer for art-minded club kids.

Daniel W. Fletcher
Also a 2015 graduate of Central Saint Martins, Fletcher established his menswear label immediately post-grad, after his graduate collection was picked up by Opening Ceremony to stock an exclusive capsule of eight designs for SS16.

Dilara Findikoglu
A Turkish designer now living in London, Findikoglu has already amassed a celeb following, including model Adwoa Aboah and Grimes, who wore pieces from the designer's collection in the "Kill v. Maim" music video.

Less than a year old, GmbH is a German "collective" founded by Serhat Isik, which specializes in eccentric unisex clothing and has been likened to Berlin's answer to Vetements.

Based in New York, Russian designer Maria Kazakova describes her menswear line as a "return to craft," which includes intricate and delicate embroidery, beading, weaving and crochet on each piece.

Katherine Mavridis
An Aussie in New York, Mavridis makes luxe, cocoon-like knitwear with a speciality in wool, crafting the classic textile with new techniques--many of which the designer invented herself.

With experience working for Thom Browne under his belt, Japanese menswear designer Kozaburo Akasaka has a knack for mixing classic pieces with something modern, citing inspiration from the '90s music he grew up listening to.

Maggie Marilyn
Self-described as "livable luxury fashion," New Zealand-based designer Maggie Hewitt matches expert tailoring with a playful, feminine charm.

Marine Serre
A graduate of Alexander McQueen, Christian Dior, Maison Martin Margiela, and Balenciaga, the French womenswear designer has crafted an aesthetic all her own that incorporates unexpected silhouettes with bright, primary colors.

Martine Rose Studios Limited
As a menswear designer based in London, Rose shows innovative separates, including her most recent collection which reimagined workwear, ties and all.

Molly Goddard A darling of London Fashion Week, Goddard embraces the feminine side of fashion, stemming from her signature frills and ruffles.

Nabil Nayal Also a 2015 LVMH Prize finalist, the London-based designer's dramatic, often theatrical pieces have been worn by Lady Gaga, Rihanna, and Florence Welch.

Palomo Spain A recent breakout during New York Fashion Week:Men's, Spanish designer Alejandro Gomez Palomo shows androgynous clothes that have both menswear and womenswear editors clamoring.

Richard Malone The Irish womenswear designer is the past recipient of LVMH’s Grand Prix scholarship, and a master of mixing prints and volume in his designs.

Japanese designer Teppei Fujita started his career as a pattern maker at Yohji Yamamoto, and has since made a name for himself as a master of oversized proportions that the fashion-forward man wants to wear.

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