Australian fashion is defying the odds, as local brands export with success in a dark market. Sass & Bide and Willow are leading the way in Australian fashion exports, as other entrepreneurial designers begin to crack the New Zealand, United Kingdom and United States’ markets.
Whilst the global downturn has injured the fashion industry, in Australia and abroad, IBISWorld CEO Robert Bryant is still predicting growth in the Australian industry, as Rosemount Australian Fashion Week celebrates 15 years. With Australian designs seen on celebrities including Cameron Diaz and Kate Moss, local brands should capitalise on the heat in the Australian market, according to Bryant.
Local brands should expand into regional markets, including the emerging middle-class and luxury fashion markets in Indonesia and China. Striking now, before the predicted boom, should ensure future profits as overseas niche markets develop. Revenue for Australia’s clothing retail industry will increase by 1.3% to $11.91 billion this financial year; so local designers should not fear overseas investment.
