Italian Government's recent Islamic Economic Forum features Islamic Fashion and Design Council as the much-needed platform.
Turin, Italy, 17 November 2014: A massive industry, with trillion-dollar opportunities, awaits development and IFDC is the key to achieving this - this was the overwhelming response of global experts attending the Turin Islamic Economic Forum (TIEF) in Italy this morning, after Islamic Fashion and Design Council (IFDC) Chairwoman, Alia Khan presented IFDC's best practices to 300 of the forum's attendees.
Titled 'The Progress of Islamic Fashion', Khan presented a case study on IFDC which highlighted the Council's support in the works for industry players, as well as its platform of products and services. Khan touched on the development of Islamic fashion over the past decades and the current explosion of interest that this multi-billion dollar industry has garnered.
"The Islamic fashion and design market has a captive audience with consumers who are committed on a higher level. So this is not a fad or trend for them. They are committed to their Islamic lifestyle for life. It's about understanding their demands and values in order to successfully cater to them".
Khan added that 62% of the global Muslim population is under 30, driven by their Islamic values, and steer this market with their spending power.
"We plan to help industry players understand and service this group more effectively so they can win the loyalty of this consumer for life", she said.
It was acknowledged at the forum that though the Islamic fashion and design industry is exceptionally strong, it's fragmented and requires support and meaningful development through a council dedicated entirely to just this space, which is significant in size. Having a mainstream fashion and design council accommodate this within their existing platform won't cut it.
According to a recent survey - the results of which will be released by Dubai Government and IFDC within the next few weeks - a slowdown in the global fashion market has been forecast for the next three years or so. However, the demand for fashion products in key Muslim markets is outpacing the global rate.
"IFDC has noted this as well as a tremendous number of opportunities within the sector - opportunities for developing new talent, assisting current designers with effective programs and services, supporting new market avenues, and more. The time for developing Islamic fashion and design on an international scale is now, hence the need for IFDC", said Khan.
She added that over the next 18 months, IFDC would be involved with a number of organisations to build the support and development platform for Islamic designers, artists, buyers, retailers and more across the globe, to ensure structured growth of the industry on an international scale.
"We are already planning a number of events and development opportunities, over the next few months, with organisations such as Dubai Exports, Thomson Reuters, and the World Islamic Economic Forum Foundation, and look forward to other organisations getting involved. It's always an exciting time for an industry when structure for success is finally introduced!"
About TIEF 2014
On 17 and 18 November, the City of Turin, with the Chamber of Commerce and the University of Turin, with the technical assistance of ASSAIF, has organised the first "Turin Islamic Economic Forum". An international forum, it is expected to bring to Turin the most important players in finance and economics in the Islamic countries working at a worldwide level.
TIEF 2014 will cover the following topics:
- Overview of Islamic finance in Europe
- Islamic finance & economic sectors: food, fashion, tourism, cosmetics - a growing market worth 15% of world GDP.
- The development of responsible entrepreneurship
- Islamic finance in Italy: problems of regulation and standards
- Commercial banking, capital markets (Sukuk) and asset management
- Insurance: the Takaful
For interview opportunities with Alia Khan of IFDC, please contact: 00971 50 8299 831 or email Natasha.email@example.com
The Islamic Fashion and Design Council (IFDC) is the world's leading fashion and design (art, architecture, interiors) council representing the Islamic economy and its stakeholders. The leading advocate for Islamic fashion, art and design professionals and aspiring talent, its platform is designed to ensure the success of Islamic fashion and design in the global marketplace. The Council aligns itself with leading and budding mainstream and Islamic fashion and design brands, government organizations, institutions, corporations, and global conferences to ensure a powerful, sustainable and supportive presence. Visit www.islamicfashiondesigncouncil.org for more information or contact us at firstname.lastname@example.org for details regarding Council events and/or media opportunities.