New owner new home for Fashion Week – but will that be

first_img LEAVE A REPLY Cancel replyLog in to leave a comment When Fashion Week folded, plenty of industry folks – myself included – expressed relief and optimism mixed in with the disappointment. Twice a year, we’d taken a week off from our regular lives to spend in the David Pecaut Square tent, shivered from the March winds cutting through our impractical outfits, been aggressively marketed by sponsor brands in the “Fashion Environment”, paid $7 for an espresso, taken in runway shows in half-empty rooms, and waited for the seismic change that the industry needed, but never seemed to get.Fashion week’s died about as many times as a soap opera villain, but somehow, it never stays down for long. On Monday morning, real estate mogul Peter Freed, president of Freed Developments, announced that he had banded together with “several of the country’s top executives in real estate, media and finance” to take over the recently dismantled Toronto Fashion Week from IMG Canada Limited.The release adds that the group “has acquired the storied semi-annual event with the goal to create a global forum for fashion, retail, arts, entertainment and culture to be anchored in Yorkville, the city’s preeminent luxury retail and brand destination.” Others on board include former IMG director of fashion events and properties Carolyn Quinn and ASC Public Relations director Suzanne Cohon. The Freed purchase raises questions about the event’s future. First, how will this affect the upcoming Toronto Women’s Fashion Week, which the organizers of the occasionally-controversial Toronto Men’s Fashion Week (TOM*FW) planned to debut in February 2017?More importantly: How will this new brains trust overcome what IMG senior VP Catherine Bennett, announcing Fashion Week’s demise, called “a lack of local support” for the industry? Some insiders took umbrage to her statement, citing Toronto’s passel of gifted designers and the coterie of tireless local businesspeople, store owners, bloggers, writers and advocates that love them. But it’s an undeniable fact that that tightly knit group struggles with having to prop up what should by all rights be a thriving, self-sustaining industry.Canadian design continues to be a tough sell among the general public, who would rather pour cash into established international brands than spring for lesser-known names. That has made media coverage of Toronto fashion events less and less worthwhile for local media, who are competing for clicks while stretched ever thinner in terms of resources. Both of these add up to diminishing returns for local designers, who pay handsomely – unconfirmed figures suggest tens of thousands of dollars – to showcase their collections at Fashion Week events. Twitter Advertisement Advertisement Login/Register With: Facebook Advertisementlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *