MELBOURNE: The L'Oreal Melbourne Fashion Festival 2009 (LMFF) event is estimated to have contributed a direct impact of $69.9million to the Australian economy. After allowing for flow-on impacts, this figure increases to $88.1million.
LMFF Director Karen Webster said this was on par with last year despite the impact of the economic climate.
"The key purpose of the festival is to get people excited about fashion. This is a way we can measure the result of their excitement," she said.
Webster said LMFF approached the 2009 event with a very conservative outlook due to the economic climate, so she was pleased it was well received by consumers.
"LMFF was held after the bushfires happened and people were feeling very flat. We came along as a positive event and something that didn't cost too much, or in some cases was free, to enjoy," she said.
Victorian Minister for Industry and Trade Martin Pakula today congratulated the L'Oreal Melbourne Fashion Festival for the contribution it makes to Victoria.
"The 2009 Festival has achieved outstanding results, reaffirming its position not only as an exceptional major event for Melbourne but also for Australia," he said.
Webster explained the figures were developed by surveying key stakeholders in the event such as designers, retailers and sponsors about consumer expenditure as a direct result of the festival. The survey was undertaken independent of LMFF by URS Australia.
LMFF was was held in March and attracted 371,000 people to catwalk shows and events, up from 362,000 in 2008. Over 300 fashion brands and designers participated throughout the week and it attracted 74 corporate, industry and government sector sponsorship partnerships.