Milan Fashion Week in full swing
For the first time since 2020, delegations of Chinese buyers travelled to the Italian economic capital. The fashion "Made in Italy" has succeeded in reinventing itself and is attracting interest once again. The sector's turnover jumped by +25% in the first half of 2022.
By Eva Morletto23 septembre 2022
Milan Fashion Week has just begun and for the first time in two years, delegations of Chinese buyers are present. More than 200 major events are on the Italian fashion week schedule, including sixty-eight fashion shows. And since Wednesday, Milan has been in full swing. Three hundred foreign journalists came to witness this extraordinary recovery. A success that is reflected in the sector's financial results, since the Italian fashion industry's turnover jumped by 25% in the first half of 2022, the first time in twenty years.
Among the most prominent houses were Armani, Fendi, Gucci, Prada, Versace, Bottega Veneta and Ferragamo. But the large attendance is also supported by the drastic rebranding of some houses, whose artistic directors have changed, thus arousing the curiosity of the public and the media.
This is the case, for example, of the Etro brand, with the arrival of Marco De Vincenzo, or Missoni, which has entrusted its new collections to the talented Filippo Grazioli, chosen by the management after his remarkable stints at Givenchy and Burberry.
The Italian Chamber of Fashion (Camera della Moda) has forecast a global turnover of more than 92 billion for 2022, although the second half of the year could see a certain downturn due to the effects of the energy crisis and the geopolitical uncertainties caused by the war in Ukraine. The president of the Camera della Moda, Carlo Capasa - co-founder of the Costume Nationale brand, among others - pointed out that the impact of energy costs on the production line could reach an overall cost increase of 10%.
In the first half of the year, it was the United States and Asia - apart from China, still penalised by health restrictions - that drove growth, with export figures jumping by +21.9% for fashion and +30.2% for activities linked to the sector.
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