Fashionistas rejoice, the L'Oreal Melbourne Fashion Festival has been secured for another five years.Victorian Industry and Trade Minister Theo Theophanous today announced the government would support the festival until 2012.Billed as Australia's peak fashion industry event, the festival this year featured 150 labels, injecting almost $50 million into the state economy."Victorians have fallen in love with the L'Oreal Melbourne Fashion Festival and travel far and wide for this event because it's a great fashion showcase in Australia's fashion capital,'' Mr Theophanous said."The Victorian government has been the major sponsor of the festival since its inception and our extended funding will enable this hallmark event to continue to grow and develop."The festival is in its 10th year and was this year attended by more than 230,000 people.