Now, industry peak body the Australian Fashion Council has moved in, announcing on Monday that Fashion Week will live on as a not-for-profit.

The week of runway shows in Sydney, usually held in May, is the biggest fashion event in Australia.

“The time has come for Australian fashion to be represented by those who know it best – our own community,” council chair Marianne Perkovic said.

In a high-end show of solidarity, Perkovic was surrounded by industry figures at the Sydney Opera House announcement, including Bianca Spender, Michael Lo Sordo, and Romance Was Born’s Anna Plunkett and Luke Sales.

“Having a not-for-profit organise Australian Fashion Week will be a game-changer and it’s how other successful fashion weeks like Milan and Paris operate,” said Alex Schuman, chief executive of label Carla Zampatti. 

The event has proved a launching pad for local designers over decades, providing global exposure leading to international markets.

But it has slowly shifted from targeting overseas buyers to attracting the general public, keen to see ready-to-wear collections they can purchase instantly.

The departure of IMG in November followed naming rights sponsor Afterpay pulling out after the 2023 edition, and a trail of successful brands, such as Zimmerman, opting to show overseas.

“The NSW government has been supporting Australian Fashion Week since 2009, and is committed to supporting the Australian industry fight to keep fashion week going here in Sydney,” Arts Minister John Graham said.

The industry employs 500,000 people and generates more than $28 billion for the Australian economy, according to figures provided by the Council.