Australian Economy

How Australian Fashion Trademark will guide growth in national economy

The Australian Fashion Council (AFC) has officially launched Australian Fashion™ – a brand new trademark for certification of local fashion brands of the country. The Australian Fashion™ certification trademark is a world-first, an industry-specific nation brand.

With the launch of the fashion trademark, AFC has hit a major milestone to upscale the success of the Australian fashion industry. The trademark will add an exceptional value to the Australian fashion industry, making it recognisable on the global stage with a unique identity. The development is anticipated to bump up the demand for local Australian fashion brands across the globe.

The much-awaited announcement was made at the Afterpay Australian Fashion Week being celebrated at Carriageworks in Sydney from May 9 to May 13.

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Commenting on the official launch, AFC CEO Leila Naja Hibri, said: “More than a trademark, 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 trademark, will help us clearly articulate the unique creativity and the progressive social and environmental values of Australian fashion on the world’s fashion stage.”

Four policy pillars (Data source: AFC)

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What’s the significance of the trademark for national economy?

Funded by the Australian federal government, the Australian Fashion Council is the peak body for the fashion & textile industry in Australia. It is a platform that brings together the local fashion talent of the country on a dais that gets exposure to national as well as international audience.    

The Australian fashion & textile industry currently contributes AU$27.2 billion, more than 1.5% of Australian GDP. Moreover, the industry employs over 489,000 people.

AFC believes that the Australian Fashion trademark will serve as a catalyst for empowering the country’s fashion industry towards greater heights. It will enable the brigade of fashion talent of Australia to draw in massive growth in economy over the next 10 years.

 Flourishing Fashion & Textile Industry in Australia

Image source: © Photomall | Megapixl.com

The latest data by AFC states that in the short term, the fashion & textile industry can deliver an additional AU$1.3 billion, including AU$500 million in exports, AU$700 million from additional investment, and AU$100 million in private consumption and government expenditure.

While in the coming decade, the industry has the potential to deliver an additional AU$10.8 billion in economic gain, becoming AU$38 billion industry by 2032 and creating an additional 86,000 jobs.

Moreover, the fashion & textile industry is one the major contributor to the national economy, employing hundreds of thousands of people. More than 77% of the workforce of Australian fashion industry is constituted by women. Boom in the sector will automatically cause an impulsive success for the women professionals of the industry.

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