It was a fashionable night out at the Avalon in Hollywood on Saturday night, as the the final event in the O'Neill Generation Next Fashion competition came to a close!

For the first time ever, two girls were selected as Co-Grand Prize Winners in the fourth annual fashion competition!

Grace An from Murrieta, CA and Nahal Yasahar from Beverly Hills, CA were both awarded an internship with O'Neill, a $5,000 scholarship, and both of their designs will be featured in the O'Neill Girls Spring collection next year!

Grace An, one of O'Neill's Generation Next finalist goes into detail about the transformation from design to full concept.

Nahal Yashar, O'Neill's Generation Next finalist goes into detail about what it's like seeing her design turn into a reality!

The 4th annual O'Neill Generation Next fashion competition is well underway! We've met our five finalists, but now it's time to see the inspiration behind their dress and handbag creation.

The winner of the fashion competition will have her design featured as part of O'Neill's Spring 2012 collection!

Ashley Wong said that indie pop music and the hipster subculture has played a big role in her design concepts, giving her the inspiration for Wonder Lust.  

Take a peek at Wong's inspiration board and learn more about the creative inspirations behind her design after the jump....

The 4th annual O'Neill Generation Next fashion competition is well underway! We've met our five finalists, but now it's time to see the inspiration behind their dress and handbag creation.

The winner of the fashion competition will have her design featured as part of O'Neill's Spring 2012 collection!

Nahal Yashar is using a variety of elements for her design: pullinng a little from Boho, beachy and Brazilian aesthetics!

Take a look at her intricate insipiration board!

The 4th annual O'Neill Generation Next fashion competition is well underway! We've met our five finalists, but now it's time to see the inspiration behind their dress and handbag creation.

The winner of the fashion competition will have her design featured as part of O'Neill's Spring 2012 collection!

Maddie Hartnett is keeping her design as natural as possible -- sticking to flowy items with an earthy feel.

Check out her inspiration board!

The 4th annual O'Neill Generation Next fashion competition is well underway! We've met our five finalists, but now it's time to see the inspiration behind their dress and handbag creation.

The winner of the fashion competition will have her design featured as part of O'Neill's Spring 2012 collection!

Jody is using lots of bright colors as well as intricate details to help define her creation!

Take a closer look at her inspiration board after the jump!!

The 4th annual O'Neill Generation Next fashion competition is well underway! We've met our five finalists, but now it's time to see the inspiration behind their dress and handbag creation.

The winner of the fashion competition will have her design featured as part of O'Neill's Spring 2012 collection!

Grace An finds a way to mesh her grunge style with O'Neill's beachy tropical inspired feel.

Check out her inspiration board and learn more about her creative designing process after the jump....