LONDON 2012 OLYMPIC GAMES: AFFECT ON THE FASHION INDUSTRY

Before Spring/Summer 2012 hits the shops, The Industry takes a look at how consumer spending and cultural influence throughout the Olympic Games will affect the British fashion industry.

During the London Olympic Games, consumer spending is set to soar by £750m with the retail sector set to benefit more than any other market. High street retailers, specifically department and clothing stores, will take an injection of £184.7m according to a report compiled by Visa. This economic boost will be generated by an influx of tourism and a change in the way consumers spend domestically, opening up a flood of business opportunities to the UK. The fashion industry will respond to this in a way no other host market has before, as cultural spirit inspires design.

The last three Olympic Games held in Sydney, Athens and Beijing had little if any impact on the catwalk collections that preceded the event. However none of these cities represent one of the four fashion capitals of the world in the way that London does. In fact all these cities experienced a much lower expenditure whilst hosting the Games. For the 2012 event, the fashion industry has already been imprinted, with catwalk collections from the likes of Alexander Wang, Versus and Marc Jacobs representing the Olympic spirit in their choice of fabrics and sporty thematics.

‘In 2012 the eyes of the world will be upon us – we want to show the world that Britain is the leading force in the global creative sphere', explains Harold Tillman CBE, member of The Industry and Chairman of the British Fashion Council. 'Our fashion representation is second to none and we will ensure that reputation is showcased and celebrated to the broadest possible global audience and that there are opportunities for the whole of the industry to get involved and participate.’

In light of this, the BFC have launched an umbrella platform named Fashion 2012 encompassing all official fashion industry activity for the Olympic year. The London Olympic Games is set to generate mass exposure towards the UK. As the BFC aim to position London as the creative capital of the world, designers and businesses will be encouraged to utilise this spotlight to full potential.

For more details on Fashion 2012 click here