Fashion Week organisers feel the credit crunch but exhibition numbers similar to last year
Three fashion shows scheduled for the upcoming Fashion Week are riding out the financial crisis better than expected, according to financial daily Børsen.
The largest, Copenhagen International Fashion Fair, expects to have 90 exhibitors fewer than the almost 1000 stalls that reserved space at shows held in February and that of last year.
But the smaller shows, Gallery at Forum and CPH Vision, both indicate exhibitor numbers to be similar to previous shows. CPH Vision is also boasting a side-show this year, Terminal 2, which has solid participant numbers as well.Arne Bang Mikkelsen, managing director of Bella Center, where CIFF is held, said this year’s drop reflects a general trend around the world for large trade shows.
‘It’s especially notable in the area of children’s clothing, where a lot of the businesses that exhibited last year have either closed or don’t have the resources to participate this year,’ said Mikkelsen.
Another disadvantage for Copenhagen shows is the strong Danish krone – particularly when paired against the Swedish kroner, which is only worth 0.72 of its Danish sister currency.
But although CPH Vision expects the same number of exhibitors this year, the show’s organising company, Exhibition Professionals, indicated it was feeling the crunch of the crisis.
‘We know the liquidity of our customers is suffering when payment deadlines aren’t being met,’ said Peter Fenger Selchau, the company’s managing director. ‘So we have to be a bit more flexible than we normally would.’
‘But it’s important that we still hold Fashion Week – even more so during the crisis, because producers and buyers can meet one another in one place in a short period, instead of spending months driving around Germany and Jutland.’
Selchau said CPH Vision was able to cover the large amount of space vacated by the bigger international companies, such as American jean giant VF Corp, which owns the Lee and Wrangler brands. But Selchau said 326 companies will exhibit this year compared to 320 in February, and although the total exhibition area has expanded, all space is sold out.
‘Some companies have requested less space but others have asked for more,’ he said. ‘And I admit I’m a bit surprised at that, because there’s no doubt the industry is under a lot of pressure from the financial crisis.’
Designers such as Baum und Pfergarten and Annhagen will not be present this year because they have gone bust. But others, such as Masai Clothing Company, are actually thriving during the crisis.
‘We’ve just tallied our books and we’ve had a 15 percent sales increase,’ said Hans Rye, the company’s co-owner. ‘Things are going especially well in Norway, England, Sweden and Germany.’
Despite projecting record losses for the fashion industry for 2009, the Chamber of Commerce expects growth of around 5 percent for 2010.
All three of the city’s Fashion Week shows run from 6-9 August. CIFF is held at Bella Center, CPH Vision at Øksnehallen at Halmtorvet and Gallery at the Forum convention centre.