Gaga, Jacobs, Olsens among the top fashion talent

Lady Gaga (AP)

Lady Gaga and her wild no-holds-barred wardrobe has created a fashion revolution — and for that she'll get this year's style icon award from the Council of Fashion Designers of America.

CFDA president Diane von Furstenberg and executive director Steven Kolb announced the nominees and honorees for the annual industry awards at a reception Wednesday evening at the DVF studio.

The other major prize to be awarded at the June 6 ceremony, for lifetime achievement, will go to Marc Jacobs, considered by insiders to be the most influential American designer working now. Living up to that hype, Jacobs was also nominated in the competitive womenswear designer of the year category against Alexander Wang, and the design duo Lazaro Hernandez and Jack McCollough of Proenza Schouler.

Jacobs, in his late 40s, is one of the youngest designers to be honored with the Geoffrey Beene Lifetime Achievement Award. Von Furstenberg said she had already received an e-mail from him joking that he'd like the award reduced to a "half-lifetime award."

"I told him that I'm much older than him and I'm still kicking," von Furstenberg told the crowd, which included Vera Wang, Anna Wintour, Zac Posen, and Ashley and Mary-Kate Olsen.

The Olsens were nominated in the womenswear category for emerging talent for their collection The Row, as were Prabal Gurung and Joseph Altuzarra. Alexander Wang, Phillip Lim and Robert Geller will compete in the up-and-coming menswear designer category, and Alejandro Ingelmo, Eddie Borgo, Pamella Love and Jason Wu in accessories.

In addition to the statuette, winners named as new talent also receive a financial prize from crystal company Swarovski.

Other categories:

- Top menswear designer: Michael Bastian, Patrik Ervell and Simon Spurr

- Top accessories designer: Alexander Wang, Proenza Schouler and Reed Krakoff

- CFDA special tribute: photographer Arthur Elgort

- Media award: Hilary Alexander of The (London) Telegraph

- Founders Award: Hal Rubenstein of InStyle magazine

- International Award: Phoebe Philo of Celine

The awards selection committee includes the 370 members of the CFDA and a group of select stylists, journalists and retailers.

Von Furstenberg also announced that, while details were still being arranged, top-tier CFDA designers were planning an online auction to raise money for the victims of the Japanese earthquake and tsunami disaster.

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