This morning we launched the Australian Fashion™ along with ‘Fashion Evolution: From Farm to Industry’, an EY industry report, sponsored by Afterpay.
In the short term, the fashion and textile industry has the potential to generate an additional $1.3 billion, including $700 million from additional investment, $500 million in exports and $100 million in private consumption and government expenditure. Over the next 10 years, the industry has the potential to deliver an additional $10.8 billion in economic gain, becoming a $38 billion industry by 2032 and creating an additional 86,000 jobs. The industry is made up of 77% women, driving women’s economic security and having the potential to deliver further career pathways and working opportunities.
In May 2021, the AFC was awarded a federal grant to create an Australian fashion certification trade mark and campaign to drive demand for Australian brands locally and internationally. Instantly recognisable, Australian Fashion™ will help more customers discover, explore and buy Australian fashion. The result will drive industry growth, more jobs and a greater contribution to the local economy that will future-proof the Australian fashion and textile industry.
This world-first, industry-led campaign will define Australian fashion, selling its unique creativity and progressive values to the world. For brands to become Australian Fashion™ certified, they must meet at least two of the following criteria; demonstrating a contribution to jobs and the local economy, Australian made, Australian owned, majority Australian employees, and Australian tax domiciled.
CEO of Australian Fashion Council, Leila Naja Hibri says “More than a trade mark, this is an opportunity to showcase the best of Australia’s fashion talent. For example, when Italian fashion is mentioned, we immediately visualise a distinct brand identity of quality and elegance. In a similar way, we have now identified four key pillars that distinguish Australia’s Fashion DNA: effortless style, raw nature, boundless optimism and fearless innovation. This, together with the trade mark, will help us clearly articulate the unique creativity and the progressive social and environmental values of Australian fashion on the world’s fashion stage.”
Certified brands must also pledge to a commitment to authentic Australian design to uphold the creative integrity of the industry nation brand, as well as to social and environmental impact commitments that drive the industry forward in transparent, responsible and inclusive practice.
Leila adds, “The Australian Fashion trade mark will be a driving force in building the industry’s growth trajectory to deliver substantial economic, social and environmental gains over the next ten years. We can show the world how prioritising people and the planet together with profit can lead to a legacy of thriving prosperity.”
“With women’s economic security now front and centre of Australia’s policy agenda, and with women representing more than 77% of our industry’s workforce, the fashion and textiles sector can play a pivotal role in advancing gender equality in our country. This is a cause very close to my heart.”
Brands can apply for the Australian Fashion™ trade mark on www.australianfashion.org. The multi-channel campaign and consumer website will launch in August in Australia 2022, followed by the UK in September 2022 with the objective to align with the UK-Australia Free Trade Agreement.
With support from Afterpay, AFC has also launched ‘Fashion Evolution: From Farm to Industry’ an EY report that models the extraordinary economic potential of the fashion and textile industry.
The report is based on four key policy asks:
1. Promote the Australian Fashion™ campaign locally and globally to turbo-charge local and export earnings
2. Build future manufacturing capability, boosting the demand for Australian fashion and textiles, including for cotton and wool fibres and their derivatives
3. Boost women’s economic security by developing career pathways for women throughout their working life, addressing current and future industry skills gaps and opportunities
4. Build a workable and sustainable circular economy across Australia’s clothing, uniforms and textiles supply chain
Implementing all policy recommendations in full will deliver $10.8 billion in economic gain over 10 years, with the potential to create an additional 86,000 jobs for Australians. In the short term, the policies will increase economic output of 1.3 billion, with a potential ROI of 19:1, on a modest funding request of $69 million. Key findings in the report also revealed that the industry’s contribution to GDP would move from 1.5% in 2021, to 2.12% by 2032, a 41% increase in contribution over the 10 years.
CEO of Afterpay, Anthony Eisen, says “The Australian fashion industry is a key creative and economic contributor to our nation. It’s an industry that employs hundreds of thousands - many of whom are women - it builds our cultural identity, showcases our capacity for innovation, and contributes to wider economic growth.”
"Fashion has always been at the core of the Afterpay business and we’re proud to support the Australian Fashion Council and Ernst & Young in producing a report that spotlights its current and potential contribution to the Australian economy”.
The Australian Fashion™ and ‘Fashion Evolution: From Farm to Industry’ launched at Afterpay Australian Fashion Week. Read the report here
To read more or to apply for the Australian Fashion™ visit www.australianfashion.org