The New York-based company that has put on the event for the past 20 years says it will stop running events in the country.

With front-row whispers getting louder over past months that Australian Fashion Week was for sale, the future of the Sydney-based event remains uncertain. Since launching in 1996 with Akira Isogawa and Alex Perry on the runway, the industry event has drawn international buyers and press to Australia.

Australia’s fashion industry is reeling after confirmation the country’s leading runway event is on its deathbed.

The company will now focus its efforts on its talent representation business after running fashion week for 20 years.

The New York-based company that has run the event for the past 20 years says it will stop running events in the country.