Complex sentence: The event was established in the city by Jay Calderin in 1995, and although it faced a few setbacks in the past, it is slowly increasing its popularity and importance, as Boston becomes a more fashion forward city.
Split into simpler sentences: The event was established in the city by Jay Calderin in 1995. It faced a few setbacks in the past, but is now increasing its popularity and importance, as Boston becomes a more fashion forward city.