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London Fashion Week: A very fashionable business generating  270 million pounds

The London Fashion Week is traditionally one of the global fashion shows that attracts the greatest deal of interest. No wonder that’s the case as the British fashion spectacle is just second to its sister event in NYC when it comes to both income generated and number of visitors.

The awaited British fashion biannual date generates in excess of 270 million pounds (more than 278 million euros) each season, according to data collated by FashionUnited Business Intelligence.

Furthermore, the British capital alone earns more than 50 million pounds with every London Fashion Week, receiving an average of 2,000 pounds per visitor. Paraphrasing Giorgio Armani, London is probably the only true city where you see the creative turmoil, reason enough for thousands of visitors to flock to the fashion capital to see the show.

Caroline Rush, chief of the British Fashion Council, summarised the LFW’s appeal on its inauguration day, saying that "London is the most diverse, multicultural and open city in the world and we fiercely want to protect that reputation."

10 key facts and figures on London Fashion Week

  • 85 shows and 33 events covering well-known labels and emerging talent
  • 5,000 guests coming from 70 different countries
  • 66 editions marked by this one, happening September, 15-19
  • 880,000 jobs supported by the UK fashion industry according to Oxford Economics
  • FashionUnited Business Intelligence calculates that the UK’s 66 billion pounds fashion industry accounts for 6 percent of UK’s market
  • This year, 28 billion pounds directly contributed to the UK’s economy from the UK fashion industry
  • Womenswear value sales rose by 1.3 percent to 27.25 billion pounds in 2016 and are predicted to rise to reach 28.77 billion pounds in 2021, says Mintel
  • Menswear market is currently the fastest growing segment in the UK’s fashion industry
  • Spend on fashion online is on the rise (+16 percent in 2015)
  • 9 billion pounds is the value of the web-based fashion and footwear market in the UK, expected to grow to 11 billion pounds by Euromonitor
  • Image: London Fashion Week September 2017. Credits: British Fashion Council

    Former fashion model digs into west African mining

    Leaving behind chic gowns and catwalks to stomp in the mud in heavy work boots, Guinean former fashion model Tiguidanke Camara has made herself west Africa's first woman mine owner.

    In the small forest village of Guingouine, in the west of Ivory Coast, Camara runs a team of 10 geologists and labourers who are probing the soil for gold deposits.

    She readily wades into a mucky pond to help take laboratory samples. "When I was a model, I showed off for the jewellers. They have licences in Africa to provide their precious stones," says Camara amid a swarm of gnats, still youthful and trim in her 40s.

    She does not recall any macho male resistance to her rise in an industry almost devoid of women, though bemused men have been prompted on occasion to ask whose assistant she might be.

    "When it got too much one day, I had to produce my CEO's ID badge!" she protests mildly. Camara says that modelling for jewellery firms "roused my curiosity. I started to ask myself questions. What if African men or women took charge of business in the mining sector?"

    "I'm the answer to that question," declares the entrepreneur, who has been ranked by France's weekly Jeune Afrique among the 50 most influential businesswomen of Francophone Africa.

    Inspired to join forces, she and a number of other women last year created an association of Women in the Mining Network of Ivory Coast (Femici by its French acronym), while Camara is also seen as an example to village girls.

    'We lack everything'

    Camara had to dig deep into savings -- earned on runways for big international fashion labels and jewellery brands and in promoting the wares of luxury design houses -- to launch her Tigui Mining Group in 2010 and acquire two licences to prospect for gold in her homeland.

    Then last year she followed up with a mining concession to look for gold in Ivory Coast, which she has turned into "my base in west Africa". "I'm the owner of a mining company that belongs to me 100 percent," says Tigui's founder, stressing that she is a continental rarity, "apart from South Africa, where there are other women bosses, but mostly in partnerships."

    In Guingouine, inhabitants have started to dream of the big changes that could benefit the village if the site proves to be rich in gold and a mine is opened. "Guingouine means happiness (in the local Yacouba language), but we lack everything," says village chief Alphonse Doh, clad in his traditional blue and white robe.

    "The school of six classes is a shed without electricity. Women in labour have to be taken in wheelbarrows 10 kilometres (six miles) to the nearest health centre," Doh explains. For the chief, opening a mine could transform the lives of thousands of people. Apart from the potential economic gains, he also hopes that Tiguidanke Camara may serve as a successful role model in a region where more than 80 percent of girls are illiterate.

    In the meantime, the "mining lady" has encouraged the women of the village to form a cooperative, providing them with agricultural equipment and two solar panels. "We are very pleased with this cooperation," says Elise Kpan, who runs the Women of Guingouine association. The cooperative has enabled villagers "to place their farming produce on the market easily and to make money".

    'Future growth sector'

    The mining sector, dominated by the production of manganese (two mines) and gold (five mines) has been growing for a decade in Ivory Coast. Current activity accounts for five percent of the gross domestic product of the country, which also has diamonds, iron, nickel, bauxite and copper. Women are poorly represented in Ivorian mining, where they account for just 112 of some 6,000 jobs directly involved in the sector and about 400 of the 30,000 connected secondary jobs.

    Concerned women have bonded to improve this state of affairs. The newly launched Femici association pools the resources of women professionals as diverse as geologists, drivers of heavy industrial vehicles, lawyers and environmental specialists.

    "Mining activity is a future growth sector that will attract many women," says Christine Logbo-Kossi, director of the Professional Group of Mines in Ivory Coast, the only employers' organisation in the industry, founded in 2008. "If I flourish in the mining sector, it's because I have benefitted from the welcome that men gave me," Camara says. Asked what quality most helps women succeed in business, she is quick to say: "Passion."(AFP)

    Photo: TMG

    New York Fashion Week to relocate once more

    London - The fashion industry is consistently changing and New York Fashion Week is no exception to the rule, as the fashion week is set to move its primary show location once more. The move comes as NYFW shortens its upcoming womenswear edition by one day.

    Since decamping from Bryant Park back in 2010, the biannual fashion event has moved its hub two times and is set to relocate once more. Following its five-year tenure at the Lincoln Centre, New York Fashion Week moved to Skylight Clarkson Square and Skylight Moynihan Station in 2015. But from 2018 onwards the fashion week, which was taken over by the Council of Fashion Designers of America, have confirmed NYFW will be leaving its main venue in Skylight Clarkson Square.

    The move sees the sixth edition of New York Fashion Week Men’s taking place in several locations across the city, as the event continues to change its format. "The official venue of New York Fashion Week is New York City. The Skylight properties will no longer be an event space, so for season six of NYFW: Men’s in January and New York Fashion Week in February, there will no longer be a home base and the shows will be “decentralised,” said Steven Kolb, CEO of the CFDA in a statement.

    Most of the larger designers showing at NYFW, such as Public School and Marc Jacobs, are unlikely to be affected by the move as they have been showing off-site for a number of seasons. But CFDA has vowed to continue supporting emerging designers, which may not be able to fund their own shows outside of the main venue.

    “The entire fashion week landscape is going through tremendous evolution and we want to be sensitive to the needs of the designers and be cost-effective,” said Mark Beckham, vice president of marketing at the CFDA to WWD. “So if a designer is creating an original film, perhaps they can look at a screening room. If they’re planning a casual presentation, maybe an amazing penthouse would be better.”

    Photo: Skylight Clarkson Square

    Infographic - Fashion weeks facts you want to know

    For years the fashion industry has faithfully followed the cycle of the traditional, seasonal calendar for producing its latest collections. However, with the emergence of new business models, such as the fast-fashion business model, climate-change and increasing consumer demand, more and more retailers and brands are choosing to break away from this static system and establishing their own format. But fashion’s love for trends and newness still remains at the core of each fashion week, which is why the ninth installment of FashionUnited’s fashion industry statistics infographic series takes a closer look at the presentations for these new trends during the bi-annual fashion week cycle of global fashion weeks. Now that all the Spring/Summer 2017 collections have passed, FashionUnited shared the fashion week facts you need to know. Discover our infographic to learn on the income of the top fashion weeks, the history, the number of inflatable bananas at LFW and more. Infographic - Fashion weeks facts you want to know

    This is the ninth installment of a new series based on the fashion statistics pages, a product of FashionUnited Business Intelligence. These pages include data on the domestic market size of apparel and footwear, facts and market values on the largest fashion companies and fashion employment statistics. Interested in more data on international fashion weeks, please contact [email protected]

    The tenth and last installment will be published on Monday, 7 November, on FashionUnited.uk, FashionUnited.com, FashionUnited.in, FashionUnited.nz, FashionUnited.ca,au.fashionunited.com. The fashion industry statistics series consists of 10 installments in total, published every other week. Want to make sure you’re up to date with the industry’s latest news? Subscribe to our newsletter.

    Read more:

    Los Angeles - This year, most of the famed fashion weeks throughout international cities have seen a move in how buyers shop. A lot of the designers have moved towards a see-now-buy-now attitude, as the wait that normally happens for buyers after a collection now seems redundant. It seems that Fashion Week Los Angeles (FWLA) is now ready to move towards this trend.

    As part of a new digital wave, FWLA has tapped mobile app Nifty to provide this function more efficiently. As FWLA continues throughout this week, collections will be readily available for sale after the shows. The app will also contact shoppers as soon as the collections and looks are available. In partnership with the fashion week, the “Shop the Runway” experience will be available for users to see the looks in real time with the runway. As the collection debuts on the runway, shoppers will be able to directly order looks through the app; which is a new development for fashion weeks.

    Founded by Alessandro Dal Grande and Firouzeh Lorzadeh, the app started in 2014 as a way for shoppers to peruse brands online. The app makes it more convenient for shoppers to see the styles and brands down to individualized size. For FWLA, the app’s website listed a schedule of when the looks would be available by time and designer. As it seems the future of fashion shows is heading this way, it’ll be interesting to see if the Nifty app becomes more popular throughout fashion weeks.

    Key Numbers - How much money Milan Fashion Week makes

    With London Fashion Week Spring/Summer 2017 slowly drawing to a close Tuesday evening, the international fashion industry shifts its attention to Italy for the start of Milan Fashion Week.

    FashionUnited previously shared how much money bothNew York Fashion Week and London Fashion Week generates and now shines a light on the financial impact Milan Fashion Week has on the city. The bi-annual fashion showcase is said to generate approximately 12.3 million euros income for the city. In total, Milan Fashion Week brings in 50.5 million euros per season.

    Key Number for Milan Fashion Week

    • Unique visitors: 22.500
    • Total income: 50.5 million euros
    • City Income: 12.3 million euros
    • Business Income: 37.7 million euros
    • Venue Income: 7 million euros
    • Restaurant Income: 16.5 million euros
    • Retail Income: 16 million euros
    • Accommodation Income: 11 million euros
    • Average visitor spend: 1.941 euros

    According to FashionUnited's calculations, the city of Milan receieves 12.3 million euros from each bi-annual fashion week - which is substainally less than its counterparts London and New York. This in part can be attributed to the difference in unique visitors. However the visitors who do attend Milan Fashion Week spend more on average than those who visit Berlin Fashion Week or Sao Paulo Fashion for example.

    Are you interested in reading more on what each global city makes from hosting a Fashion Week? Then click here to read our full report.

    Milan Fashion Week SS17 is set to kick off on Wednesday, September 21 and will run until Monday, September 26. Designers set to show on schedule include Philipp Plein, Gucci, Moschino, Giorgio Armani, Moschino, Versace, Jil Sander, Salvatore Ferragamo and Missoni.

    Key Numbers - How much money Milan Fashion Week makes The international Fashion Week season for women's ready-to-wear kicks off in the month of September, with all eyes set on New York, Paris, London and Milan for next seasons latest trends. For all the women's wear catwalk season must reads, click here.

    Photo: Prada, Cavalli, Gucci AW16, Camera Nazionale della Moda Italiana website

    This is how much money London Fashion Week generates

    London - As New York Fashion Week slowly comes to an end, the industry's attention shifts, moving across the ocean to the capital of England for the start of London Fashion Week. Kicking off on Friday, September 16, the bi-annual fashion showcase sees over 80 designers presenting their SS17 collections on schedule. With over 105,000 visitors expected to attend this season of London Fashion Week, the immense costs linked to staging a catwalk show or presentation is no secret. But the real question is how much money does London Fashion Week really generate?

    Although the Big Apple, aka New York City, does make the most money out of the global fashion weeks, the home of the Big Ben is not that far behind. According to calculations carried out by FashionUnited's Business Intelligence, the total income made from London Fashion Week is 269 million pounds (322 million euros). How did we arrive at this sum? By looking at the number of visitors each fashion week brings to the city, combined with the average income each visitor has, plus local hotel and food costs as well as sales taxes, applicable tourist fees and corporate taxes FashionUnited was able to predict the total income LFW brings to the city each season.

    London Fashion Week Total Income: 269 million pounds

    In addition to the total income brought in by LFW, the direct income generated for the city of London during fashion week is approximately 52.6 million pounds (62 million euros.) This amount is based on the number of local venues rented out for the event, the number of visitors staying in the city as well as general sales tax, food tax and service tax, which is currently 17.5 percent. The total venue income is predicted to be 74 million pounds (88.5 million euros), followed by the total restaurant income at 76 million pounds (91.5 million euros), the total retail income of 63 million pounds (75.5 million euros) and total accommodation income of 55.5 million pounds (66.5 million euros.)

    Of course, staying in London especially during Fashion Week can be a pricey affair. The average spend per visitor is 1,855 pounds (2,225 euros), with each visitor spending 740 pounds (871 euros) just on dining out in restaurants and cafes. With the rise of designers launching their collections in stores as soon as they are shown, visitors are more than likely to commit to some light retail therapy - spend on average 610 pounds shopping (719 euros). And of course, LFW visitors will need a place to stay during their visit to the city, spending on average 538.5 pounds on their hotel or stay (634 euros). Considering that London holds the highest rent average within Europe, the amount spend on hotel is not too shabby.

    Unsurprisingly it is nearly as expensive for outside visitors to attend London Fashion Week as it is to visit NYFW. Unlike New York, London does not charge visitors additional tourist tax, so the city does not receive any additional income during fashion week in the area. However, London does earn additional company tax on the profits of its local business, with the effective tax rate currently at 23 percent. This bring the total local business income from LFW is 216 million pounds (260 million euros).

    Taking all these factors into considering is comes as no big surprise that London Fashion Week is the second most profitable fashion week following New York. However, in light of the UK's recent vote in favour of exiting the European Union, one must wonder if London Fashion Week will continue to hold its appeal and generate as much income if a Brexit does become a reality. Prior to the vote, numerous leading members within the industry voiced their support of remaining within the EU and considering the growing number of designers showing overseas or off calendar the future of London Fashion Week as the second most profitable fashion showcase remains to be seen.

    London Fashion Week Kick Off

    London Fashion Week kicks off on Friday, September 16 and is set to run through to Tuesday, September 20. FashionUnited will be on site visiting the designer show rooms, speaking to attendees, reviewing the most anticipated shows and events in order to share in depth, behind the scenes and insightful LFW information with its readers. Interested to see which events, shows and more you shouldn't miss during LFW? Then click here to see our interactive map.

    This is how much money London Fashion Week generates The international Fashion Week season for women's ready-to-wear kicks off in the month of September, with all eyes set on New York, Paris, London and Milan for next seasons latest trends. For all the women's wear catwalk season must reads, click here.

    Photo: Burberry Aw16, Catwalkingpictures.com

    Key Numbers - This is how much New York makes during New York Fashion Week

    New York Fashion Week kicks off the international ready-to-wear fashion week season, today.

    But how beneficial is it financially for a city to hold a fashion event twice a year? According to calculations carried out by FashionUnited, the total income for New York during New York Fashion week is 574 million dollars per season. That means that New York Fashion Week brings in more money than the U.S. open and the NYC marathon. The other impressive thing about New York Fashion Week generates more money than any other major Fashion Week.

    Key numbers New York Fashion Week

    • Number of visitors 150,000
    • Total income 574 million dollars
    • Municipality income 64 million dollars
    • Business income 509 million dollars
    • Venue income 201 million dollars
    • Restaurant income 149 million dollars
    • Retail income 120 million dollars
    • Accommodation income 103 million dollars
    • Average expenditure per visitor 2,485 dollars

    Would you like to learn more? Read the in-depth article Money-Makers: Which global city makes the most from Fashion Week? .

    Key Numbers - This is how much New York makes during New York Fashion Week The international Fashion Week season for women's ready-to-wear kicks off in the month of September, with all eyes set on New York, Paris, London and Milan for next seasons latest trends. For all the women's wear catwalk season must reads, click here.
    Key numbers - The income on New York Fashion Week

    With New York Fashion Week around the corner, FashionUnited took the moment to present how much income is generated by New York Fashion Week. According to calculations carried out by FashionUnited, the total income for New York during New York Fashion week is 574 million dollars per season. That means that New York Fashion Week brings in more money than the U.S. open and the NYC marathon. The other impressive thing about New York Fashion Week generates more money than any other major Fashion Week.

    Key numbers New York Fashion Week

    • Number of visitors 150,000
    • Total income 574 million dollars
    • Municipality income 64 million dollars
    • Business income 509 million dollars
    • Venue income 201 million dollars
    • Restaurant income 149 million dollars
    • Retail income 120 million dollars
    • Accommodation income 103 million dollars
    • Average expenditure per visitor 2,485 dollars

    Would you like to learn more? Read the in-depth article here.

    Key numbers - The income on New York Fashion Week The international Fashion Week season for women's ready-to-wear kicks off in the month of September, with all eyes on New York, Paris, London and Milan for next seasons latest trends. For all the women's wear season must reads, click here.
    This is how much New York makes during New York Fashion Week

    It's not surprising that there is nothing cheap involved in Fashion Week. What might shock some is how much income is generated by New York Fashion Week.

    According to calculations carried out by FashionUnited, the total income for New York during New York Fashion Week, which starts tomorrow, is 574 million dollars. By taking the number of visitors each fashion week brings to the city, combined with the average income per visitor per fashion week; local hotel and food costs; sales taxes; applicable tourist fees, as well as corporate taxes, we were able to estimate the total income NYFW brings in each season.

    No time to read the whole story? Click here for the 20-second Key Number version.

    In addition to the total income, NYFW also generates 509 million dollars of business income, as well as 64 million dollars of municipality income, 201 million dollars of venue income, 149 million dollars of restaurant income, 120 million dollars of retail income, 103 million dollars of accommodation income, according to our calculations, which is based on academic research verified by the NYCEDC. Each visitor who comes to New York for fashion week spends on average 2,485 dollars during their stay - which is not too shabby all in all, considering it is the Big Apple.

    A photo posted by NYFW (@nyfw) on

    But how do these visitors spend their money during NYFW? Here is a brief breakdown: on average visitors spend 140 dollars on clothing. For items that cost more than 110 dollars, customers pay 8.5 percent sales tax. Based on the average tag of 140 dollars, only an estimated 20 percent will spend less than 110 dollars on clothing. Therefore 24 million dollars of all estimated sales are charged with 4.5 percent in the calculation above, which leads to a sales tax income of 1 million. Of course, visitors also need to stay somewhere during NYFW as well. A brief stay in a hotel in New York comes to an average of 616.50 dollars per night. Visitors need to eat as well during their stay, and spend at restaurants and dining out costs approximately 840 dollars per person, based on Numbeo, the global food price index.

    When you take all these costs into consideration is comes as little surprised that New York Fashion Week generates more revenue than the U.S. open. Or even the New York City marathon.

    New York Fashion Week generates more money than any other major Fashion Week

    Last year the New York City Economic Development Corporation published a study citing New York Fashion week generates in total 900 million dollars for the city. That number is more than the collective per capita income of some U.S. cities. To think, this study was also released before the addition of New York Fashion Week: Men's to the calendar.

    The other impressive thing about New York Fashion Week is that it generates more money than any of the other major Fashion Week's in Europe. That’s more income than London, Milan, and Paris - cities which currencies are currently higher valued due to recent exchange rates. Compare that to 56.5 million dollars for Milan Fashion Week, 73.5 million dollars for Paris Fashion Week, and 360 million dollars for London Fashion Week.

    Keep in mind, New York is arguably the most expensive city in America. 1 million dollars here gets you less square footage when buying a home than most anywhere in America. New York's high cost of living is arguably a contributing factor to this high revenue, but either way, the city still comes out on top.

    Read more on the economic impact of other international fashion weeks, in: Money-Makers: Which global city makes the most from Fashion Week? .

    New York Fashion Week kicks off

    New York Fashion Week begins on September 8 and ends on September 15. FashionUnited will be looking at the effects of the see-now-buy-now model, and analyzing how a lot of legacy designers have opted out of participating this year. In addition, expect our usual show reviews to follow throughout the week as well.

    2 days. #NYFW

    Een video die is geplaatst door NYFW (@nyfw) op

    This is how much New York makes during New York Fashion Week The international Fashion Week season for women's ready-to-wear kicks off in the month of September, with all eyes on New York, Paris, London and Milan for next seasons latest trends. For all the women's wear season must reads, click here.

    Photo: New York Fashion Week website, screenshot