NATIONAL: Last year it was the thorn in every budget - this year, the Australian dollar has proven to be a sweetner for international buyers headed to Rosemount Australian Fashion Week (RAFW).
While economic conditions had forced many delegates to amend budgets for the upcoming spring/summer 2009/10 instalment next week, buyers had spoken of their relief at a more favourable exchange rate. As reported in Ragtrader at the close of RAFW 2008, budgeting for the season had been thrown into disarray as a result of sharp fluctuations in the Australian dollar.
UK-based retailer Austique revealed by the time orders had been delivered to its store, pricing had shifted by upwards of 20 per cent.
"There is the option of buying a currency in advance but unfortunately this ties up too much of the budget in the incorrect season," owner Lindy Lopes said at the time.
RAFW organiser IMG Fashion Asia Pacific admitted exchange rates at the time of press - $A0.71 bought $US1 as opposed to $A0.90 to $US1 in 2008 - had helped to lure buyers to the event, particularly from the northern hemisphere.
Urban Outfitters UK womenswear buyer Aimee Brown said along with its "sense of style and creativity", it made good economic sense to source from the Australian market.
"We have been slowly increasing the presence of Australian brands in our mix over the past seasons; growing budgets as performance indicates. It...makes sense for us to work with Australia with the currency and level of value we get [but] this is not the only reason we buy from there."
Domestic brands currently represented 11 per cent of its business with plans to push this to 20 per cent over autumn/winter 2009. Brown said RAFW represented an opportunity to source Australian labels before they were snapped up and distributed by UK-based agents.
Singapore-based boutique Antipodean, which specialised in Australian designer fashion, was particularly interested in new generation brands and offerings from Therese Rawsthorne and Zimmermmann. Owner Tricia Lum said the Australian dollar had provided some budgeting relief this year but she was still cautious moving forward.
This would be Lum's fourth trip to the spring/summer showcase.