- FashionUnited |
Los Angeles - With Los Angeles Fashion Week just around the corner, FashionUnited asks the question of how much income this anticipated event generates. Throughout this weeklong event, cities such as London, Milan, New York, and Paris all make over millions of dollars during their fashion weeks. Recently Los Angeles has been emerging more as a fashionable city and is attracting more attention. In this mini-series FashionUnited asks how much money cities gain from hosting a fashion week and examines how much money Los Angeles makes from Fashion Week.
Especially with elite designers such as Tom Ford, Tommy Hilfiger and Rebecca Minkoff moving towards the West Coast; the city’s upcoming fashion week has garnered more attention than usual. Although New York City generates the most for its fashion week, there is still money being made in the City of Angels. In comparison to its fashion capital counterparts, according to our calculations the city generates approximately 46 million dollars per fashion week.
Number of visitors: 20,000
Total income: 46 million dollars
City income: 5.5 million dollars
Business income: 40.5 million dollars
Venue income: 6 million dollars
Restaurant income: 15 million dollars
Retail income: 14.5 million dollars
Accommodation income: 10.5 million dollars
Average expenditure per visitor: 2,004 dollars
The total sum for how much Los Angeles Fashion Week generates came from of a variety of factors. The calculations come from looking at the the average income each visitor has, local hotel costs, food costs, sales taxes, tourist fees, and corporate taxes. Between these numbers, FashionUnited was able to predict how much Los Angeles actually makes during each fashion week.
The direct city income coming in from the fashion week totals 5.5 million dollars. This information comes from the number of local venues that are used for the event, including all of the various spaces used for each version of Los Angeles Fashion Week. This number also includes the number of visitors staying in the city, food tax, sales tax, and service tax. The total venue income is predicted at 6 million dollars, with a restaurant income of 15 million dollars, a retail income of 14.5 million dollars, and a total accommodation income of 10.5 million dollars.
For visitors who come to stay in Los Angeles during Fashion Week, the city also does pretty well. The average spend per visitor is 2,004 dollars. As visitors need to spend money on a place to stay, retail expenditures, and dining out; it seems that Los Angeles generates a hefty amount on income due to these factors. In comparison to New York Fashion Week, these numbers are significantly less. NYFW makes a total of approximately 574 million dollars for each season. The fashion event also generates 509 million dollars of business income, 149 million dollars of restaurant income, and 120 million dollars of retail income. Each visitor spends an average 2,495 dollars during their stay, which is only 491 dollars more than its Los Angeles counterpart. However, in every other factor, New York Fashion Week makes more impressive amount of income each season than L.A.
Los Angeles Fashion Week kicks off early during the first week of February. Taking place in various venues such as The Grove and in Venice, designers have decided to span their shows from February 4-8. Official dates are still being confirmed, but Rebecca Minkoff has announced her show will take place on February 4 at The Grove. Rachel Comey's show will be on February 7 in downtown Los Angeles and Tommy Hilfiger's show will be in Venice on February 8. At the moment, Rachel Zoe's show does not yet have a set date but is expected to take place in February before NYFW.