By  on June 9, 2011

After five consecutive nominations, Michael Bastian won a CFDA Award on Monday — and it couldn’t have come at a better time. The designer is in the midst of relaunching his signature label after buying back his license from former partner Brunello Cucinelli in December and not producing a collection for the fall 2011 season in order to revamp the business.

“We have better pricing, with the goal of reducing prices by 10 to 20 percent across all categories and we are producing in all new factories,” said Bastian of his newly independent company. “The goal is to be more competitive at retail while keeping the quality of the product at the same level. We are about to kick off spring ’12 selling in Milan this month and my hope is that this award may help us pull in new accounts that haven’t heard of us or haven’t been paying too much attention to us.”

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