Ximon Lee, a 24-year-old Parsons graduate, was just awarded the H&M Design Award. Lee is the first American designer to be given the accolade, and the first menswear designer to be awarded the prize.

"It's a very big surprise for me," he told WWD. Lee already has experience working at 3.1 Phillip Lim and Calvin Klein.

"Men's is such a niche market. But I think men's wear is really changing nowadays. Men's and women's are really starting to mix. It's not the idea of unisex, but people are really willing to try different looks," Lee added.

The young designer will receive 50,000 euros (about $56,000), mentorship and a collaborative line to be sold at select H&M stores and at hm this fall.