Monday, January 11, 2010

Bloomberg To Boost Fashion Industry

The Mayor's Office is launching a Fashion NYC 2020 campaign. It will be a year long initiative to brainstorm about the future and ramp up New York City's presence as a global force in fashion amid growing international competition and outsourcing of fashion related jobs. The purpose is to look closely at changes taking place within manufacturing, maketing and design and how these changes are affecting the city's economic growth and jobs held in the fashion industry. It will also include a 10 year projection of things that can be done to maintain the city's prominence in fashion and retail.

Tonights event which will take place at Macy's Herald Square will begin with a panel discussion comprised of members representing various sectors of retail, design, e-commerce, manufacturing and sourcing. Followed by a dinner and another discussion with city officials at each table who will take notes as executives serve up ideas. Several big name executives and designers are scheduled to attend.

According to WWD, along with preserving New York as the garment capital of America, other topics to be discussed include:
  • Bolstering business in the boroughs and stimulating tourism by providing shopping coupons or even subsidizing airline tickets.
  • Street vendors and quality of life issues
  • Fashion's Night Out scheduled for Sept.10, which could include  no-sales tax day and a fashion show for the general public
  • How to shorten the buying cycle so stores cn sell more wear-now clothes and capture trends better.
  • Technology including sustainability, the new media and mobile marketing
  • Pop-up stores
More that 800 fashion businesses are based here, twice as much as Paris, its closest rival. With 175,000 people working in fashion and fashion retail in NYC, the sector generates $10 billion in total wages with tax revenues of $18 billion in yearly direct spending with NYC businesses. Many top names in fashion could not have gotten their businesses off the ground if they were not based in New York City. The Fashion NYC 2020 launch is a necessity for our city that it can continue to thrive.

We commend Mayor Bloomberg for recognizing the importance of this industry and for his efforts to support and maintain it!