Afterpay Pulls Out as Sponsor of Australian Fashion Week

The buy-now, pay-later platform has withdrawn its sponsorship of Australian Trend Week, after signing a three-year deal for the naming rights of the occasion in 2020.

”Afterpay joined Australian Trend Week as title sponsor at an immensely difficult time for the style business. Their help enabled us to proceed offering designers with a world commerce and client advertising platform through the pandemic, and we’re very grateful for his or her partnership,” Natalia Xenita, vp and managing director of style occasions and properties, Asia Pacific IMG, the proprietor of Australian Trend Week, mentioned in an e-mail to BoF.

Afterpay mentioned it might proceed to help Australian manufacturers by work with the Australian Trend Council and Australian Retailers Affiliation.

“Our goals for AAFW have been to make an impactful contribution to the business and its landmark occasion following the devastating impression of Covid-19 … We have been capable of play an important half in rebuilding an business that has been so essential to our success,” mentioned Afterpay’s Australia nation supervisor Katrina Konstas in a press release.

The transfer may place many designers, whose charges have been waived following Afterpay’s sponsorship announcement, in limbo for the 2024 season. In keeping with the Sydney Morning Herald, which was the primary to report the information, below Afterpay’s sponsorship, the roughly AU $20,000 ($12,900) charges, which coated staffing and manufacturing, have been waived, making participation within the week extra accessible for rising designers.

The occasion was priorly backed by Mercedes-Benz, and IMG’s new associate has but to be named.

Afterpay may also not sponsor New York Trend Week occasions.

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