Australian Fashion Week is poised to sign up Mercedes-Benz in a A$1m ($1.05m) sponsorship deal
The deal is believed to be a three-year contract with an option to renew for another two years, the Sydney Morning Herald reported. It will ensure the event’s financial stability once its partnership with wine brand Rosemount expires this year.Mercedes-Benz was the partner of the inaugural fashion week in 1995, but wound up its involvement after 11 years when sponsorship costs increased in 2005. The company has gone on to sponsor other international fashion weeks but, according to Australian Fashion Week founder Simon Lock, it is now returning to its roots."'It's completely wonderful that Mercedes-Benz are returning as the naming rights sponsor," said Lock, who forged the original Mercedes deal. "Their Australian association was instrumental in sending them into partnership with fashion around the world, so it has come full circle."This year's fashion week will start on May 2 and will be opened by the label Zimmermann, which is celebrating its 20th anniversary.
Source: WGSN Newsteam 07 April 2011