Chanel Next Prize Awards €100,000 to 10 Artists with No Strings Attached

Chanel has launched the Chanel Next Prize, a biennial award granting €100,000 each to ten interdisciplinary creatives with no restrictions on how the money is spent. The prize was announced during the 2022 Venice Biennale opening. Yana Peel, Global Head of Arts and Culture at Chanel, conceived the prize as part of a broader cultural strategy that includes the Chanel Culture Fund, a new Art&Culture department, and the Chanel Connect podcast. Peel, formerly CEO of Serpentine Galleries and founder of Outset Contemporary Art Fund, emphasized the prize's global reach with local advisors and its alignment with Chanel's legacy of supporting creativity. The first winners include filmmakers, artists, and game designers. Chanel also paused its partnership with V-A-C Foundation in Moscow due to the war in Ukraine. The prize aims to build a community of supported creatives over time, with future editions potentially including physical exhibitions in Venice.