The Australian Walk of Style, to be unveiled at the intersection of Oxford St and Glenmore Rd on Tuesday, honours designers Collette Dinnigan, RM Williams, Mark Keighery, Akira Isogawa and Sass & Bide.

The project, which originated with businessman Theo Onisforou, celebrates the past, present and future of the home of Australian fashion.

“There’s so much doom and gloom around (the fashion industry) at the moment but it’s important that people realise that this is cyclical, not terminal,” Onisforou said.

“It’s an industry that has been going on in Australia for a long time and it has a bright future. We need to recognise it, celebrate it and be loyal to it.”

Australian Fashion Week founder Simon Lock selected the five stars to be enshrined in square bronze plaques at the intersection.

Woollahra Council has endorsed the ongoing project, which will see at least two new stars added each year for the next five years.

“We’re not saying these are the most important designers but just that they are the first five to be nominated and recognised,” Onisforou said.

“This is where Australian fashion originated and it’s where its future lies. We are celebrating the independence of design.”