Toronto Fashion Week will no longer be run by Robin Kay and the FDCC

Last night, Globe style reporter Amy Verner broke some big news: Robin Kay and the FDCC have sold Toronto Fashion Week to IMG World, the international fashion management group that’s responsible for New York Fashion Week. We spoke to IMG PR manager Andrew Serrano this morning, and he said that the purchase of Toronto Fashion Week has been on the company’s radar for the last few years (it has, after all, been consulting with Kay and the FDCC for a while now). Does this change mean anything at all? It’s too soon to say. But IMG is a privately held company, which means it actually stands to, in a perfect world, make some money—the only question now is, how?