Located at myspace.com/fashionau, the site's main purpose is to promote designers and highlight key fashion trends, looks and stores.
MySpace Fashion would also provide a forum for designers, stylists and fashion enthusiasts, giving users the opportunity to engage with each other and share fashion insights, a MySpace spokesperson confirmed.
The site was designed as a hub for current fashion news, offering users an insider's look into the fashion industry, he added.
"Devoted to the burgeoning and talented Australian fashion scene, MySpace Fashion aims to be the key online fashion portal for exclusive content, special offers and news about the latest trends," he said.
Features of the new site include; "Fashion Secrets", a space for online or offline stores to offer MySpace Fashion members discounted rates on their ranges or sale stock; "Style Guide", an inspiration board highlighting the latest looks and trends for the season; "Featured Designer", highlighting a new designer every week; "Street Style", a photo gallery bringing together a selection of user photos and the hottest looks from the street; and "Featured Store", a section outlining boutique stores across Australia that stock local and international designers.