The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The New South Wales state government has announced it will spend around AU$500 million (US$381.6 million) to turn Sydney’s Powerhouse Museum in the inner-city suburb of Ultimo into a fashion and design hub, according to a report in The Guardian.
On Tuesday, the state’s arts minister, Don Harwin, announced this year’s state budget would contain “the first tranch” required to fund “the complete renewal of this building”.
“Design and fashion will be at the forefront of this museum in the future,” Harwin said.
Anna Plunkett, co-founder of Australian label, Romance Was Born, told The Guardian it made economic sense for Australia to have a museum space devoted to fashion.
“People are waking up, I think … the McQueen show at the Met was the biggest-selling exhibition of all time. Fashion crosses so many boundaries, it’s so desirable and it creates so much space for crossing genres and storytelling,” she said.
Brands like Dior and Valentino are banking on India’s high growth potential, but it will take more than dazzling shows and sleek stores to turn this complex market into a major revenue source.
South Korea is one of the world’s leading exporters of beauty products but the narrow definition of ‘K-beauty’ in international markets means many exciting brands in Seoul have yet to go global.
The apparel and footwear market in Colombia rebounded faster than in Brazil or Mexico, but Chile and Peru may not recover to pre-pandemic sales levels for years. Where are the region’s next growth opportunities?
An analysis of consumers in the United Arab Emirates and Saudi Arabia from BoF Insights reveals what’s at stake for both local and global brands in an industry in the midst of vast change.