Fashion Week has always been an expensive prospect for designers, but it's about to become even more costly: IMG has announced that it is planning to raise the cost of showing at Lincoln Center by eight percent, on average, for the first time in three years, reports WWD.
The cost of showing at Lincoln Center's largest venue, The Theatre, for example, will be $54,000 (up from $50,000), $43,000 for The Stage (up from $40,000), $30,000 for The Studio and $16,500 for the smallest space, The Box, WWD reports.
The increases are reportedly designed to cover unforeseen expenses associated with some of the venue's high-tech upgrades from Bryant Park, including GPS registration and seating assignments.
Zach Elchman, IMG's vice president of global marketing and communications, explained to WWD that "with all the expenses and costs associated with the staging of the event, many anticipated and some not, as well as ever increasing commodity prices such as fuel, a small increase was unavoidable.”
While bigger companies likely won't be discouraged by the price increase, it may be enough to turn away smaller brands vying for a Lincoln Center spotlight during Fashion Week.