Friday, September 30, 2016

Organisers of the iD Dunedin Fashion Week are looking at ways to cut costs after reporting an almost $55,000 loss.

The society in charge of the annual fashion week just publicly confirmed the deficit.

In the 2015 financial year it enjoyed a net profit of more than $120,000.

But that's turned into a net loss of just under $55,000 following this year's event.

Income dropped and expenditure increased for the society, disappointing members.

They're blaming lower than expected ticket sales and are now looking at trimming costs and boosting sponsorship.

The society reportedly has healthy reserves for continuing the event.

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