MAYOR GIULIANI ANNOUNCES ECONOMIC IMPACT OF 7th ON SIXTH FASHION SHOWS
Fashion Shows Expected To Generate $206.2 Million In Economic Activity
Mayor Rudolph W. Giuliani announced today that the annual "7th On Sixth" fashion shows are expected to generate approximately $206.2 million in economic activity for New York City.
The Mayor was joined at today's announcement by Deputy Mayors Rudy Washington and Randy Levine, Economic Development Corporation President Charles Millard, Council of Fashion Designers of America President Stan Herman, the Council's Executive Director Fern Mallis, Grand Central Third and Fourth Street Partnership President Dan Biederman and UNITE! President Jay Mazur.
"New York City is where the world comes for fashion," Mayor Giuliani said. "We have estimated the total economic impact of the four annual 7th On Sixth fashion shows is $206.2 million. This includes the secondary ripple effects of $86.3 million in spending by visitors and sponsors in the local economy, $4.2 million in direct economic activity, and $115.7 million from participating designers, media and sponsors spending. In addition, the City will generate an additional $8.9 million in City tax revenues.
"7th On Sixth brings the best and brightest of the fashion industry to the City's fashion stage four times a year attracting thousands of New Yorkers, tourists and fashion designers from around the world," the Mayor continued. "The fashion industry has always been a part of the tapestry of New York City. The City's role in the area of fashion design is unmatched in the world, and for this reason New York has naturally been dubbed, the 'Fashion Capital of the World.'" the Mayor concluded. -over-
Since 1993, the Council of Fashion Designers of America have produced "7th On Sixth," four annual fashion shows of women's and men's clothing. The two women's and two men's shows last for six days each and take place in April and November, and February and July , respectively.
"It's the first time in my recollection that any Mayor has gotten involved with our industry to this degree," said Council of Fashion Designers of America President Stan Herman. "We will now be able to utilize more of Bryant Park then ever before and will be returning in a grand way."
From 1993 through 1996, the shows were centralized in and around Bryant Park in midtown Manhattan with additional shows held throughout the City. This past Fall the women's fashion show was moved to the Chelsea Piers. February 2, 1998 marks the beginning of men's fashion week and will take place, once again, at Bryant Park.
"New York City remains the Fashion Capital of the World with one of the highest levels of significant manufacturing employment in the country," said UNITE! President Jay Mazur. "It's important to maintain the high quality and level of employment that the fashion industry creates for New York City so that the City will remain the center for creativity and employment."
The fashion industry is one of New York City's largest manufacturing industries with 225,000 employees and generating $19 billion in annual economic activity.
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