08/09/2012 08:56 EDT

Toronto Fashion Week Sold: New Owners Mean Robin Kay's Exit From Event


Toronto Fashion Week, officially known as World MasterCard Fashion Week, has been taken over by global powerhouse IMG Fashion, it was announced this morning in a press release. Longtime executive director Robin Kay will no longer be playing the lead role in the bi-annual event, though she will maintain an "advisory" status, according to an interview in the Toronto Star.

“In business, timing is everything, and I am confident that the time is right for IMG to take World MasterCard Fashion Week to the next level,” said Robin Kay in the release. “I have no plans to disappear and I will remain committed to helping and nurturing Canadian designers shine on the catwalk.”

Canadian fashion icon Jeanne Beker casually dropped the news on Twitter this morning before heading onto CP24 to discuss it, and Fashion Cares:

IMG Fashion currently runs the esteemed fashion weeks in New York, London, Milan and Berlin, among many others, and adding Toronto to the roster is expected to bulk up the 40-plus designers already showing during the five-day event. Though there will no doubt be grumblings about a lack of Canadian ownership, according to Beker, international recognition is exactly the plan.

While certain names, like Joe Fresh and Pink Tartan, have already made plenty of waves across the border, for designers like Denis Gagnon and Juma, this could be their big break. World MasterCard Fashion Week in Toronto, showcasing Spring 2013 collections, will take place from October 22 to 26 as scheduled.

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