Page 13: Myer ends Melbourne Cup carnival’s Fashion’s on the Field partnership

The department store giant has ended its longstanding sponsorship of the Melbourne Cup Carnival’s most fashionable event. Here’s why.

Myer has ended its almost four-decade sponsorship with the Melbourne Cup carnival’s Fashions on the Field event. Picture: Julian Smith.

Myer has made the shock decision to end its longstanding sponsorship of the Melbourne Cup carnival’s Fashions on the Field.

The department store giant and the Victoria Racing Club have confirmed their 39-year partnership will cease at the end of July.

During its heyday, when Australia’s only Miss Universe winner, Jennifer Hawkins, was the long time face of the carnival, Myer and the VRC built the competition into the ultimate fashion destination, drawing entrants from all over the world.

Miss Universe winner Jennifer Hawkins was the long-time face of the carnival. Picture: Stefan Postles.

But the multimillion dollar racing partnership no longer aligns with Myer’s “ongoing strategic objectives and marketing priorities” according to CEO John King.

But while the name Myer may be missing, Fashions on the Field will return for this year’s carnival in November.

“The Melbourne Cup Carnival is synonymous with fashion, and for decades that meant Myer,” VRC CEO Steve Rosich said.

“It has been an enduring and prolific partnership, recognised globally and responsible for creating some of the most iconic fashion moments at Flemington.

“We have valued Myer’s longstanding support and wish them well for their future endeavours and look forward to delivering a magical Melbourne Cup carnival this year.”

Fashions on the Field celebrated its 60th anniversary last year, with many of fashion’s most powerful figures sitting on the judging panel.

Myer chief executive John King said the multimillion dollar racing partnership no longer aligned with the store’s “ongoing strategic objectives”. Picture: Brendan Esposito.

They included a then wide-eyed WAG and Myer racing ambassador, Rebecca Judd, to Hollywood star Liza Minnelli, actor Eva Longoria, stylist Carson Kressley and Dame Edna Everage.

“Over the years Fashions on the Field has flourished, in both the number of entrants it attracts and its role in the nurturing and showcasing of Australian fashion design and innovation,” Rosich said.

“The VRC will be revealing more details, including exciting innovations to this year’s competition, soon.”

Myer’s decision comes as a surprise given the enormous economic benefit the Melbourne Cup Carnival generates each year.

Last year the Melbourne Cup Carnival confirmed its status as the number one economic generator of any annual sporting event in Australia with $422.1 million in gross economic benefit delivered to the state of Victoria.

This included more than $51.9 million on retail, fashion and grooming in Victoria by attendees.

“Fashion is at the heart of Myer, and we are incredibly proud of the contribution Myer has made to the Victoria Racing Club through our sponsorship that has spanned almost four fashionable decades,” King said.

“While the decision not to renew the sponsorship was a difficult one, it aligns with our ongoing strategic objectives and marketing priorities.”

“We have no doubt the VRC will deliver an exceptional 2023 Melbourne Cup Carnival, as we continue to bring our customers the latest trends for the upcoming spring racing season.”