Inspire, Innovate, and Imagine—these are the tenets of the CFDA + Lexus Fashion* Initiative, which entered its third edition with the announcement of the new group of finalists at Blue Hill tonight.

They are Araks Yeramyan of ARAKS, Dao-Yi Chow and Maxwell Osborne of Public School, Jonathan Cohen, Abdul Abasi and Greg Rosborough of Abasi Rosborough, and Tracy Reese.

Lexus, said CFDA President and CEO Steven Kolb,  “shares our vision to support designers and help them achieve sustainability. This program has proven to have real influence and impact on more than 20 designers who have participated in it in the past.”

The five talented labels join past awardees such as 2.0 winner Studio 189, Cienne, Erin Snow, Maria Cornejo, Wwake and Prabal Gurung.

“This year, our selection committee wanted to be sure that the finalists reflect different perspectives on fashion,” Kolb added.

The nine-month CFDA + Lexus Fashion* Initiative is designed to inspire commitment to transformative leadership, sustainable innovation and positive change.

Check back for more coverage from the announcement event.