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Luxury’s about-turn
The industry is experiencing the impact of the sluggish US market, China’s slow recovery, geopolitical conflicts, inflation, and high interest rates. Experts have reduced their forecasts, estimating a growth between 4% to 6% for the current year. «We anticipate a linear single-digit increase of approximately 5 to 7% in 2024»
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Cnmi’s president Carlo Capasa hopes the government will not disappoint the fashion industry
«The 5 key points agreed upon for our industry have been removed from the Made in Italy Bill», the president of the Cnmi said to MFF. From sustainable and digital transition, patent box and training relief, to a 50 million fund for promotion. «We request that these points be reinstated, as the fashion industry pays over 240 million euros to the state for every billion earned»
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Tapestry’s stock fell by 32% after the deal with Capri holdings
While the financial report is pending, the stock of Coach’s parent company has been factoring in the market’s response to the acquisition of the New York holding company since august. According to Goldman Sachs, Michael Kors is the most valuable asset with the highest potential for growth. Other groups have expressed interest in Versace
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Chanel restarts from Shenzhen
The maxi event for the Chanel Cruise 2023/24 Collection by Virginie Viard attracted 2,000 attendees. «While acknowledging the potential growth in the Chinese market, our primary focus is on attracting a new generation of consumers on a large scale», Bruno Pavlovsky, president of fashion at Chanel stated
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The future of creative directors between star and emerging designers
In a year marked by significant changes in the upper echelons of the fashion industry, luxury fashion houses are divided between those who favor established names with impressive credentials and those who rely on artistic risk-taking as their guiding strategy. From Pharrell Williams to Sabato De Sarno, the industry eagerly awaits the outcome of this contest
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Luxury streets traffic free challenge
MFF is researching the latest shopping street developments. New York’s mayor is considering pedestrianizing Fifth Avenue after seeing a 7% boost in sales from the Open streets initiative, while Milan’s Via Montenapoleone fashion district may restrict traffic. Meanwhile, in London, Sadiq Khan is planning to close access to cars between Oxford street and Bond street, while vehicles will still be allowed on Avenue Montaigne
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Sales of luxury apparel fell by 25%
According to the MFF survey, sales of luxury fashion have decreased by double digits. Wholesale turnover, which is estimated at 3.5 billion euros a year for the 100 members of Camera buyer Italia, has also been affected by the economic downturn and price increases. Additionally, excess inventory triggers promotions, leading to decreased margins
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Venice sustainable fashion forum’s eight ideas for eco-friendly fashion
From creating an intergovernmental task force to fostering responsible partnerships throughout the supply chain, the summit organized by Smi and Ambrosetti in Venice aims to define a shared strategy for the eco transition. One of the objectives is to establish quantitative standards, since there are over 300 voluntary standards already available on the market
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MFF SC20, the new Italian fashion supply chain list
The top 20 Italian supply chain companies were unveiled in a rank by MF Fashion in partnership with Leanus. These companies operate independently and collaborate with leading luxury brands, generating over three billion euros in revenue in 2022, with a growth rate of 22.7%
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MFGS 2023: NextGen Revolution
«We do not exclude the possibility of going public», Alfonso Dolce disclosed on the final day of the 22nd Milano fashion global summit. An introduction to a growing trend for Made in Italy, which is currently in turmoil over the future of Armani. While French giants are focusing on strengthening their governance, our country is defending the supply chain, including the development of new clusters, the establishment of new industrial areas, and the training of future master craftsmen
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MFGS 2023: The challenges for brands and supply chain
During the second day of the 22nd Milano fashion global summit, the focus was on supply chain and brands. «We produce 20% in Italy and 80% in France», ceo of Hermès Italia Francesca di Carrobio explained. «Fashion generates a quarter of the trade balance», Fabrizio Guelpa of Intesa Sanpaolo recalled. «Finance is part of the evolution of her business», Chiara Ferragni concluded
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MFGS 2023 The future between groups and alliances
The Milano fashion global summit, organized by Class Editori, started by exploring Italy’s return as a leader in the luxury industry among managers and alliances. Speakers featured Prada’s ceo, Andrea Guerra, who made his public debut, Minister Urso, Renzo Rosso, Diego Della Valle and Lapo Elkann. The new fashion stock market hit list is emerging, with Essilux standing out among the Italian companies. Armani, Otb, and Dolce & Gabbana stand out as brands not included on the lists
