The future of Australian Fashion Week and the Australian Fashion Laureate are up in the air after IMG, the US-based company that runs the annual event, announced that it will no longer be hosting the event.

On Wednesday, IMG shook the Australian fashion world to the core after it announced it was ceasing its fashion events Down Under.

“The event has played a key role in ushering the industry forward,” the managing director of IMG Fashion Events Asia Pacific Natalie Xenita said, per The Sydney Morning Herald.

“We are incredibly proud of IMG’s many accomplishments leading Australian Fashion Week for the last 20 years.

“We navigated a changing industry by introducing new initiatives including the strategic refocus on resort collections, a consumer-integrated model that has been replicated globally, waiving participation fees to support designers since the pandemic, and hosting the first-ever Indigenous designer shows.”

In response to the news, Australian Fashion Council Chair Marianne Perkovic and CEO Jaana Quaintance-James have issued a joint statement, writing that Wednesday’s announcement “signals an opportunity for the industry to reimagine and reshape how Australian fashion is represented”.

“Turning to the future, we know we need a platform to profile and celebrate Australian fashion,” they shared.

“This moment signals an opportunity for the industry to reimagine and reshape how Australian fashion is represented and provides us all with an opportunity to explore new ways in which to showcase emerging and established Australian talent. 

“The AFC, as the peak body for fashion and textiles in Australia, will lead this conversation. We will work with members, government and other stakeholders to consider the future platform needed to position and elevate Australian fashion internationally.” 

Per the Australian Financial Review, the event struggled to “source a new partner” following the departure of Afterpay last year. Australian Fashion Week has previously worked with other sponsors including Mercedes-Benz and Rosemount.

Simon Lock, who founded Australian Fashion Week before it was sold to IMG in 2005, told SMH that “it’s a sad day for Australian fashion”.

“When I sold the event to IMG it was trying to ensure the future of Australian fashion,” he said.

“Over time the event has become more focused on domestic retail and social media rather than the international market. For many designers, the return on investment in taking part is no longer there.

“The owners decided to pull back on international marketing for the event that really generated the commercial reason for designers to participate.”

The 2025 Australian Fashion Laureate is set to take place on November 21 in Sydney and the next Australian Fashion Week was due to run in May 2025. However, with IMG pulling out, its future is now in doubt.

IMG has not commented if the event was up for sale following its announcement on Wednesday, but it was rumoured it was trying to offload it for as little as $1 million earlier this year. 

Australian Fashion Week has been the catalyst for launching Aussie brands, such as Zimmermann, Collette Dinnigan and Dion Lee, onto the world stage.

Image source: Getty Images