"It is an honor," Erdem told British Vogue's website following the announcement. "The prize will help us to take our business to the next level. It is so integral for us to be showing in London and the support of the BFC and Vogue will allow us to grow our business internationally."
It can only get better for Erdem, who already has a cult following in the U.S. His collection is a hit at Barneys New York, and is regularly featured in the pages of Vogue and W. Celebrity fans include Keira Knightley, Sienna Miller, and Chloe Sevigny.
The initiative - created as part of the BFC "legacy program" - mirrors the CFDA/Vogue Fashion Fund, which is has been awarding deserving designers for the past five years. Like the U.S.equivalent, Erdem will also receive a high-profile mentorship intended to bring his young business to a global level.
Speaking of the CFDA, find out about president Diane von Furstenberg latest launch.
Shop the selection of designs by Erdem below: