SYDNEY — IMG Fashion said Thursday it has inked a multi-year strategic partnership with China’s Tencent Holdings Ltd. for video content during next week’s Mercedes-Benz Fashion Week Australia.
The partnership will see the creation of at least four hours of exclusive video on demand content that will be broadcast across Tencent’s Weibo microblogging platform throughout the week. Australia fashion week runs from April 6-10 at Sydney’s Carriageworks venue.
Headquartered in Shenzhen, China, Tencent Holdings is Asia’s largest listed internet company, with a market cap of just over $150 billion and the world’s third largest internet company after Google and Amazon. Tencent Weibo boasts an online community of 798 million active users.
The IMG Fashion/Tencent partnership will also underwrite the April 9 show of Beijing-based designer and social media star Lan Yu, who will anchor Tencent’s video coverage, interviewing other designers on the MBFWA schedule, looking at Sydney street style and tourist hotspots throughout the city.
Tencent Technology Co. Ltd Fashion channel chief editor Xia Yue said the Chinese company wants to work with “IMG Fashion to showcase Australian fashion to the affluent Chinese consumers and introduce China’s best fashion designers to the Australian fashion world.”
China is now Australia’s most lucrative tourism market, which Tourism Australia projects will grow to between 7.4 billion and 9 billion Australian dollars, or $6.84-8.3 billion at current exchange, in total expenditure by the end of the decade.
“It’s incredible to think about the reach that our collaboration with Tencent will bring to our Australian designers” said says Elle Turner, Director, IMG Fashion. “Studies show that a majority of Chinese fashion fans make pre-meditated purchases, as opposed to impulse buys. By introducing these consumers to our designers and their brand’s storytelling told during Mercedes-Benz Fashion Week Australia, we plant the seeds increasing awareness of our designers.”