Revenues and exports still down, Italian fashion chases a revival

It will be a week permeated by Giorgio Armani's presence, despite his recent loss: the Emporio collection shows and that of the first line, celebrating 50 years since the company was founded in 1975, will be held regularly. Just as regularly as the exhibition dedicated to Armani's half-century will open. The Italian National Chamber of Fashion - which wished to open the fashion week presentation conference with a minute's silence for the late designer, who was one of the founders of the event - is also thinking of a way to pay tribute to him "but we must hear from the family first," says President Capasa.

It will be a fashion week - from 23 to 29 September, with 171 appointments including 54 physical fashion shows - in which the passing of a genius like Armani will also be inevitable food for thought: He, who with Versace, Ferré, Missoni, Valentino, Krizia, in the Eighties and Nineties (and beyond) had sanctioned the centrality of Italian fashion at an international level by focusing on well-made garments but above all on a creativity that, in its sobriety, proved disruptive, will he be able to set an example at a time when creativity and well-made items represent the only tools that Italian fashion can use, together with innovation, to climb back up the slope after a year and a half of overt crisis?

The Fashion economic trends released by the National Chamber of Fashion photograph another year of decline after 2024: the revenues of the fashion sector, enlarged to include the so-called connected sectors - which in 2023 had broken through the wall of 100 billion euro in revenues - are expected to fall to 92.4 billion euro (-3.6%) at the end of the year after a more critical first half (-4.6%) marked by uncertainty over US tariffs and a slight improvement in the second half of the year. The drop in revenues goes hand in hand with that of exports, which will touch EUR 88.4 billion (-3%), with non-EU countries registering a -9.7% drop in the first five months of the year, while imports, especially from Asian countries (and probably linked to the desire to get supplies before any trade wars) is expected to register +4.3%, bringing the trade balance to EUR 39.5 billion (compared to EUR 44.2 billion in 2024). The situation does not seem dissimilar to last year's, but there is a difference: while in 2024 the accounts had been 'sunk' by textiles and clothing, while related sectors had resisted, the situation seems much more balanced despite the negativity.

In this context, Milan Fashion Week will be an interesting showcase. On the calendar there are a series of highly anticipated debuts, because they mark a change of pace in the artistic direction of some key brands including Gucci - Demna will present a preview of his vision with a private event on 23 September (he does not even appear on the calendar) and the same will be done by Dario Vitale for Versace - and Bottega Veneta, with Louise Trotter's first collection that will be shown on Saturday 27 at 5pm. And, again, Simone Bellotti will present his creations for Jil Sander, the Otb group brand that he took over as creative director last March. There will then be space for the 'great classics' - Prada, Dolce&Gabbana, Missoni, Tod's, to name but a few - and for young people, some of whom will be hosted at the Fashion Hub in Palazzo Giureconsulti.

"Italian fashion needs everyone's energy," said Carlo Capasa, "because we need to rediscover a strong creativity at a time when it is important to preserve Italy's supremacy on the world stage. Let us not forget that fashion employs 1.2 million families and is worth 5.5% of GDP, excluding allied industries". Matteo Zoppas, president of Ice - which together with Maeci supports the event, also sponsored by the Municipality of Milan - also emphasised an important theme: "Together with Maeci and Mimit we are working alongside companies to create competitiveness and grow abroad. China and India are increasing the quality of their production, so we must accelerate, leveraging innovation'.