Miuccia Prada is being honoured for contributions to the world of art. The Italian designer - who took over the family-owned company in 1978 - will be given the 2010 McKim Medal Laureate at the 6th annual McKim Medal Gala this Wednesday (19.05.10) in a ceremony at the American Academy in Rome. The award recognises the 61-year-old designer's contribution to the visual arts through her foundation Fondazione Prada. Previous winners include architect Renzo Piano and artist Cy Twombly. Carmela Vircillo Franklin, director of the American Academy, told Artdaily.org: 'Miuccia Prada has achieved worldwide recognition for her inimitable vision, constant innovation and exceptional contributions to fashion and the arts. 'The Fondazione Prada has gained respect as a top international not-for-profit fund for contemporary art. We are honoured to have her as the sixth McKim Medal Laureate.' Miuccia has a PhD in Political Science and was a member of the Italian Communist Party before she agreed to join the family business, which she revolutionised with the help of her husband Patrizio Bertelli.