‘Hundreds applied. Fifty were chosen. Only ten will become finalists, battling for one of the most prestigious prizes in fashion today. Who will make the cut?’. Following last year’s winner Joseph Altuzarra and the super successful year he’s had, the CFDA/Vogue Fashion Fund returns for the 2012 edition, a competition that’s quickly becoming a major rite of passage for American fashion designers. If not for the design, at least watch it for Anna Wintour’s intimidating looks (ha!). Watch episodes 1 and 2 below and subscribe to the Vogue US Youtube channel here to watch the competition as it goes along.