06/06/2014 06:12 EDT | Updated 06/16/2017 01:04 EDT

Ottawa Fashion Week announce event cancellation due to lack of funding

OTTAWA - Ottawa Fashion Week is no more.

Organizers are pulling the plug on the style showcase which has been held twice a year in the country's capital.

The most recent Ottawa Fashion Week was held in February.

In an interview Friday, artistic director Bruno Racine said the move was largely made for financial reasons.

"It is an expensive event to run and we carried it on for 11 seasons with sponsorship and ticket sales — that's pretty much it."

Racine said both he and Ottawa Fashion Week's founder and executive producer Hussein Rashid also juggled their responsibilities of overseeing the event while balancing full careers: Racine as the owner of three salons, and Rashid as an engineer and entrepreneur.

Racine said that attendance wasn't an issue, noting that for the last two years they had sellouts on Fridays and Saturdays — but not enough to compensate for the event. He also didn't rule out the possibility that Ottawa Fashion Week would be revived in future.

Last November, organizers of Montreal Fashion Week announced that they were cancelling the winter edition of their event to focus on merging the semi-annual showcase with the city's summer Fashion and Design Festival which will be held this August.