Australian Fashion Week is up for sale.
The annual event has been run by American company IMG since 2005, and the business has quietly slipped it on to the market with a price tag of $1million, according to The Daily Telegraph.
It is expected the New York-based global sports and culture company will continue to mount the event until 2025.
Daily Mail Australia has approached AFW for comment.
No specific reason for the sale has been confirmed, but rumours have run rife that AFW has struggled to maintain its once respected reputation as an ‘essential showcase of top designers Down Under’.
The publication reports there may be friction between IMG and designers participating in AFW over sponsorship.
Under IMG’s terms, brands and designers need approval from AFW when it comes to stitching up their own partnerships and sponsors. Â
In recent years, AFW has gone from one of the country’s most prestigious events to one overrun by reality stars, wannabes and micro-influencers.
Industry insiders told Daily Mail Australia this year’s designers wanted nothing to do with ‘fame hungry MAFS stars desperate to be seen at fashion week’.
This year’s style aficionados enjoyed runway shows from major brands like Carla Zampatti, Romance Was Born and P.E Nation.
Bec + Bridge, Mariam Seddiq, Michael Lo Sordo, and Acler also made favourable returns.
Still, Nadia Bartel’s brand Henne was not included in this year’s show, despite it being the most popular event on the schedule in 2023.Â
Star power has also been lacking over the past couple of years at AFW, which used to draw in big names like the Hadid sister, Miranda Kerr and Jennifer Hawkins.
This year, the shows appeared to be a mix of reality contestants from at least two seasons ago and people spotted social apps who sat in the front row, while TV stars like Jess Rowe got relegated to the second row.
A Sydney-based stylist also made headlines for their extravagant outfit choice.
Jamie Azzopardi, who is non-binary and uses they/them pronouns, was spotted strutting through Carriageworks in Sydney flanked by an entourage of minders tending to their extravagant gown.
However, not everyone was impressed by the spectacle.
Watching from a distance, former Married At First Sight star Carolina Santos couldn’t resist throwing a shade at Azzopardi’s elaborate arrival.
The reality TV star took to social media to mock the stylist quipping, ‘What the f**K is that? Does Jamie think [they] are at the Met Gala or something? Why are people holding [their] clothes?’
Eyewitnesses described Azzopardi’s arrival as nothing short of a performance.
Dressed in a detailed gown which featured layers of fine fabric and intricate embellishments, the stylist made sure all eyes were on them.
Azzopardi’s ‘minders’ were seen constantly adjusting every detail of their attire, ensuring that not a single fold was out of place as photographers snapped away.
Click here to resize this module