Fashion raiders no match for insurance
AFC general manager Zoe Edquist said unless designers equipped themselves with sufficient preventative measures, they risked falling victim to the staggering growth of organised crime groups across Australia.
The warning comes after three boutiques across Melbourne and eight stores in Sydney were burgled late last month.
Up-and-coming menswear designer James Cameron was the latest victim to get hit; just days before he was due to unveil a flagship store in Melbourne's Oliver Lane. Thieves reportedly cleaned out the entire store and took off with more than $20,000 worth of apparel on January 25.
Cameron said 250 pieces in total were stolen, including samples for an upcoming collection. He described many of these as "irreplaceable".
"We were fortunate enough to have some insurance and that will help somewhat. [But] the opening has been pushed back another month and unfortunately, my samples were stolen setting next season back as well."
Edquist said independent designers could be "destroyed" if not properly insured. However, she admitted getting adequate cover could prove difficult for some, given the crippling financial considerations.
"With insurance, it's important to do a cost-benefit analysis and ensure the risk is not out of proportion with the cost. Investing in security grills would be a good alternative and would save designers a couple of thousands of dollars in insurance."
Edquist also advised designers to ensure they were legally protected at the manufacturing end. She confirmed the AFC had recently devised a Standard Manufacturing Agreement which formally placed financial responsibility on manufacturers should garments be destroyed or damaged under their care. Designers should not assume they are protected without proper legal documentation, Edquist said.
In the meantime, the AFC would monitor the market should Cameron's stolen merchandise appear.
"This is clearly some sort of commercial enterprise. There are many possible places his collection could end up, including ebay, so I would also advise him to keep an eye on the market."