June 8, 2016,
Linda Evangalista coined the phrase “we don’t get out of bed for less than $10,000 a day” back in Supermodel Era of 1988-1992, its fair to say a lot has changed in the fashion industry since then but the supermodel heavy weights are still bringing in the big bucks and the recent price fixing scandal hitting the headlines paints the industry in a worrying light.
If you like to keep on top of the latest industry news we are sure you will have been reading about the enquiry into price fixing amongst some of the UK’s top agencies, if you missed it here is the article in The Guardian
These allegations bring to light a lack of transparency in the fashion and modelling industry and if true could be concerning for other industry players such as smaller agencies, models, high street stores, online retailers and designers.
With the increasing trend in online shopping retailers need to be shooting more frequently and therefore need more time with models, if certain models are being booked out at extortionate rates keeping up with the costs could prove to be difficult.
For us as an agency, we represent almost 200 models who are skilled, talented and look fantastic. What we ask for is a fair days pay for the work that they do. Price fixing reflects badly on agencies, if online retailers and high street stores think those are the going rates they may be put off from booking models at all. Some agencies and models have made great strides over the past few years to change the public’s perceptions of the industry so this is a big setback.
The industry already struggles with a lack of transparency on pricing. Our models are individuals, they are self-employed, their skills vary, and it is never quite as simple as setting one price for all. The same goes for our clients who very from students to start ups to international businesses there is so much to be taken into consideration. We are trying to move away from this lack of transparency and set fair and reasonable prices for our models that reflect their skills and ability and the work they have put in.
We certainly hope that these allegations are not true. The creative industry is an important part of the UK economy and we should be doing our bit to increase competition and economic activity not hindering it.
Whatever the outcome of the enquiry we hope that high street stores and online retailers will give smaller agencies and their models a chance.