Collaborative fashion house Australian Fashion Labels will establish a new head office and up to 50 new jobs as part of the South Australian State Government's $50 million Unlocking Capital for Jobs program.
The $50 million is provided in the form of financial guarantees from the State Government that allows small to medium enterprises to secure to commercially viable bank loans - allowing up to $250 million of bank funding to be leveraged.
Australian Fashion Labels Managing Director Dean Flintoft said that the additional capital will allow them to accelerate growth, increasing its South Australian staff from 85 to more than 140 by the end of the 2016 financial year.
"The opportunity will allow us to expand our workforce, resources and markets by creating labels within new demographics of advanced contemporary womenswear, menswear and footwear," Flintoft said.
"This will further extend the global impact that Adelaide's fashion industry has, especialy once the first international BNKR flagship retail store in Los Angeles opens this year."
Australian Fashion Labels was founded in 2007 by Dean and Melanie Flintoft. It has five labels in its stable: Finders Keepers, Cameo, Keepsake, Jaggar and The Fifth. A sixth, TY-LR, is planned in August of this year. It sells to more than 3500 stockists worldwide and is forecasting online sales to grow by 74 per cent this financial year.
For more on Australian Fashion Labels in South Australia, read The Lead: