IMG Style Occasions & Properties has confirmed it would exit the Australian trend occasions enterprise, together with Australian Style Week and the Australian Style Laureate.
Based on IMG, the group will not function Australian Style Week, with the Australian Style Laureate on November 21 in Sydney being IMG's final trend occasion in Australia.
The Australian Style Council (AFC) has since responded to the information by stating that Australia wants a platform to profile and have fun Australian trend.
“This second indicators a chance for the business to reimagine and reshape the best way Australian trend is represented, and provides us all the chance to discover new methods to showcase rising and established Australian expertise,” the AFC president mentioned. , Marianne Perkovic, and CEO Jaana Quaintance. James shared in a press release.
“The AFC, as the height physique for trend and textiles in Australia, will lead this dialog. “We’ll work with members, authorities and different stakeholders to think about the longer term platform wanted to place and elevate Australian trend internationally.”
Right now's information follows experiences from July that AFW was on the market, with one publication claiming the asking value was $1 million. Rag retailers spoke to IMG in July to deal with the rumors, and IMG's vp and basic supervisor of APAC trend properties and occasions, Natalie Xenita, mentioned the occasions agency “doesn’t touch upon rumors.”
When requested if the present scenario is because of a sale, IMG declined to share additional remark.
AFW has been in operation for the final 30 years, and IMG has managed the occasion for the final 20 of these years.
“The occasion has performed a key position in transferring the business ahead. We navigate a altering business by introducing new initiatives, together with strategic refocusing on Resort Collections, an built-in shopper mannequin that has been replicated throughout worldwide, eliminating participation charges to help designers because the pandemic and presenting the primary reveals by indigenous designers,” Xenita shared in a press launch immediately.
“We sit up for celebrating the business at our closing occasion collectively, the Australian Style Laureate 2024, later this month.”
As a part of this transformation, IMG mentioned it would additional focus its assets and experience on its expertise illustration enterprise. IMG Fashions in Sydney is not going to be affected by this transformation and can proceed to function as common.