Milan: Creativity and Desire at the Heart of the Economic Recovery

Milan Fashion Week has come to an end, and thanks to it, the Italian city has further cemented its strategic position in the global luxury economy. Still riding high on the momentum of the Winter Olympics, Milan offered up a number of highlights that confirmed fashion's role as a catalyst for growth and visibility.

On the creative front, Demna's first show at Gucci, presented at the Palazzo delle Scintille, stood out for its bold aesthetic break and multiple references to the 1990s and the Tom Ford era. The finale, carried by supermodel Kate Moss, symbolized the desire to reconnect the house with its global appeal.

Maria Grazia Chiuri's return to Fendi was also one of the key moments of the week. Appointed in October 2025, the designer presented a mixed collection that was greeted with a standing ovation. With reworked furs and a reflection on resistance to hyper-consumerism, the creative director is focusing on demanding craftsmanship, closer to haute couture than mass production. This is a coherent approach in a global market weakened by the Chinese slowdown and volatile demand.

Behind the glitz of the catwalks, the stakes remain economic. Italian fashion is worth around €102 billion in annual turnover, but 2025 has been marked by a slowdown, particularly in exports. In this context, Milan plays a role as a buffer and strategic showcase.

According to the Centro Studi de Confcommercio Milano, Lodi, Monza e Brianza, the direct tourism impact of this edition exceeded €217.4 million, up 17.7% compared to 2025. More than 132,200 visitors flocked to the event (+17.4%), 44.7% of whom were foreigners. Average spending reached €1,644 per person: €100 million spent on shopping, €84.8 million on hotels and restaurants, and €32.6 million on transportation. On an annual basis, Milan Fashion Weeks generate nearly €800 million in revenue, according to the Camera Nazionale della Moda Italiana.

The Olympic Games effect further amplifies this momentum. The economic impact of the Winter Olympics in Milan is estimated at around €320 million for the city, while the current edition of Fashion Week is expected to generate nearly €250 million in revenue. Confcommercio estimates that the combination of sporting and creative events has led to an overall increase in activity of 18% compared to 2025.

In just a few months, Milan will have hosted the Olympic Games, Fashion Week, and the Salone del Mobile, scheduled for April. This concentration of events positions the Lombard capital as a global platform where sport, design, and fashion interact, consolidating its status alongside Paris, New York, and London.