Last year was a period of ups and downs for Italian fashion. On one hand, industry revenues experienced a significant contraction of 5.3%, falling below 96 billion euros and surpassing initial estimates of a 3.5% decline. On the other hand, exports reaffirm their status as the sector’s strength, with a value exceeding 90 billion euros, marking a 2% increase compared to the previous year. Growth was led by markets such as Turkey, the United Arab Emirates, and the United Kingdom, where Italian fashion exports recorded double-digit increases. However, challenges remain: Switzerland, long regarded as a key luxury hub, saw a dramatic decline in imports of Italian products, with a contraction of 51.2%. Italian exports are supported by prestigious brands like Gucci, Prada, Valentino, and Armani, which continue to represent the excellence of Made in Italy around the world. Gucci, in particular, enjoyed a year of revitalization with the arrival of new creative director Sabato De Sarno, whose collections generated strong interest from Asian and North American markets. Prada, under the guidance of Miuccia Prada and Raf Simons, strengthened its positioning with a mix of innovation and tradition, achieving exceptional performance in leather goods and sustainable clothing segments. High-end houses such as Bottega Veneta and Fendi, part of the LVMH group, also contributed to the sector’s success by focusing on exclusive designs and innovative materials. Emerging brands such as Magliano and Federico Cina have also gained international attention with bold collections and the ability to reinterpret Italian tradition.
In a complex global economic context, the fashion sector faces significant challenges, including pressure on production costs and the need to invest in sustainability and innovation. Carlo Capasa, president of the National Chamber of Italian Fashion, emphasized the importance of protecting the production supply chain by investing not only in creativity but also in accessible products to stimulate consumption. Thus, 2025 opens with high expectations: Milan will host the Fashion Week dedicated to men’s fashion from January 17 to 21, featuring 68 events including physical and digital fashion shows, with a special focus on young talents. Despite the difficulties, Italian fashion continues to be a fundamental pillar of the national economy and a source of prestige at a global level. The ability to adapt to changes and innovate while staying true to the values of Made in Italy will be crucial for the sector’s future. Creativity and artisanal excellence remain the driving forces that make Italian fashion unique and inimitable.