7th on Sixth Sold to IMG

February 12, 2001, 12:00 AM EST

Fashionistas beware: Your industry is selling out. According to Fashion Wire Daily, nonprofit Council of Fashion Designers of America (CFDA) has sold 7th on Sixth, the division that stages New York's Fashion Week, to modeling and sports management company IMG.

While the decision to sell was supposedly unanimously approved by the board, designer and board member Nicole Miller snipped to FWD that she was “left out of the loop” and “found out about it the day before it happened.” One of the concerns of designers who regularly show at Fashion Week is that IMG will push its modeling talent into their shows.

Fern Mallis, currently the CFDA's executive director, will step down to take a post at IMG, a conglomerate with more than $1 billion in annual revenues. IMG clients include Gisele Bundchen, Tiger Woods and Serena and Venus Williams.

Posted 02.12.01

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