A Chinese Fashion Moment?

From the Wall Street Journal:

As young designers, Karl Lagerfeld and Yves Saint Laurent dueled in a 1954 contest that helped put both on the fashion map. This year, the competition has been resurrected, and the finalists reflect the emergence of a new source of fashion talent: China.

Two Chinese designers, Qiu Hao and Shao Jia, are among 10 finalists who will today unveil runway collections in a bid for the Woolmark award, which provides more than $150,000 for the winner’s label.

Having buoyed the luxury-goods industry’s growth for years, China is becoming an incubator of design talent, from young Europeans seeking jobs in the country’s massive textile industry to a rising generation of homegrown Chinese designers.