New Delhi, April 15 (IANS): Three Indian designers - Akaaro, Zubair Kirmani and Barkha Sonzal, are among the nominees from the India and Middle East category of the 2014-15 edition of the International Woolmark Prize (IWP).

IWP, now into its third year, has emerged as a coveted award in the design world. Delhi-based designer Rahul Mishra became the first Indian to win its latest edition.

For the first time, two designers will receive the overall award, one for menswear and one for womenswear.

Five regional awards will be held to select 10 finalists, each receiving AU$50,000 financial contribution towards their next collection as well as an invitation to participate in the international final.

The nominee designers will be required to present the sketches of a Merino wool capsule collection comprising six outfits, with one full outfit to be produced at the India and Middle East regional award to be held in India later this year. The collections will be judged by a panel of local and international experts, whose names will be announced soon.

The five menswear finalists will meet at London Collections: Men in January 2015, while the five womenswear finalists will meet in Beijing in March 2015.

The winners of both the menswear and womenswear finals will receive a further AU$100,000 to assist with fabric sourcing and marketing of their collection.

In addition, both international winners will have their collection commercialised through key international retail partners including Harvey Nichols in Britain, Joyce in China, Saks Fifth Avenue in the USA, Colette in France, 10 Corso Como in Italy, My Theresa online and David Jones in Australia.

The IWP has an impressive alumni of the most important designers from around the globe, as well as partnerships established with some of the most successful global designers including Narciso Rodriguez, Victoria Beckham, Diane von Furstenberg and Richard Nicoll.