Diane von Furstenberg: "I'm a feminist with as many M's as possible"

Diane von Furstenberg has helped shape women's fashion for more than four decades, but she's also empowered women through philanthropy. This year marks the 10th anniversary of the DVF Awards, with honorees including Anita Hill, Iraqi Yazidi activist Nadia Murad, singer Katy Perry, social entrepreneur Hadeel Mustafa Anabtawi, and activist Susan Burton. 

The annual ceremony will award the trailblazing women this week who use their influence and resources to transform the lives of other women.

Asked how things have changed for women in the past 10 years, von Furstenberg compared it to a pendulum.

"I am part of a generation that I'm a feminist. I grew up with Gloria Steinem. So I'm a feminist with as many M's as possible," von Furstenberg said Monday on "CBS This Morning." "Then I guess that my daughter's generation, they kind of took it for granted. But now that I see my granddaughters, they are badasses. They're not going to take anything. I think this is a good time, but I think we cannot let it go by. We have to seize it because the 21st century is the century for women if we want to save the world."

The 72-year-old designer has said she thinks of aging as "an acquisition, not a loss."

"The truth is I live so fully, I should be twice my age. And the point is that age means that you exist. It means you have lived it. So to hide your age means that you're hiding part of who you are. I mean, yes, you don't have the same assets you have at 20, but you have a lot more assets of a lot of other things," von Furstenberg said.