- Angela Gonzalez-Rodriguez |
The London Fashion Week (LFW) is, with no hesitation, one of the biggest fashion shows worldwide. As each session, the London´s date kicks off the biggest fashion weeks around the globe. Beyond its importance in terms of showcasing the most avant-guard designers and rising talents in the trade, being so close to the city always means business.
London Fashion Week is not just about the designers, the catwalks, the it-girls or the memorable parties. LFW always means business, and serious one.
According to data collated by Precise, the LFW generates 160 million pounds in media coverage each season.
100 million pounds in order placed during each LFW season
Great exposure generates more sales, with 100 million pounds of orders placed during LFW each season, according to the British Fashion Council.
The 62nd edition of the London Fashion Week is also expected to boost the British fashion and apparel business over the next months, with research firm Mintel predicting that 27 billion pounds worth of womenswear sales will be noted by the end of the year, a 4 percent rise from the 26 billion pounds noted in 2014.
The biggest estimated win will be that of womenswear, now predicted to come in at 32 billion pounds by 2019, a growth of 23 percent from current figures. Likewise, Mintel estimates 10.3 billion pounds worth of sales of men’s and women’s footwear in 2015, up 6.5 percent from 9.4 billion pounds since 2015.
But the success of the seasonal LFW is considered by many as just a loyal echo of the contribution of the fashion world to the British economy. As per data elaborated by ‘Oxford Economics’, 26 billion pounds is the direct contribution to the UK economy (measured by GDP) from the UK fashion industry, up from 21 billion pounds in 2009.
On a related note, the British luxury goods industry contributed 32.2 billion pounds in sales in 2013, valuing the sector at 2.2 percent of the UK’s GDP. Looking forward, projected sales for the sector by 2019 stands at 51.1 billion pounds.
Meanwhile, those chosen to done the latest designs of the hottest labels can bag up to 193 pounds a stride (the case of American muse Karlie Kloss), according to new financial research conducted by the Association of Accounting Technicians (AAT), reports the ‘Daily Mail’. That amounts to 5,835 pounds for a 30-step show walk. In comparison, novel Molly Bair earned 1,700 pounds for walking in 48 shows so far this year, including Alexander McQueen and Chanel Couture.