FLORENCE — Given stagnating domestic demand, Italian luxury companies are developing aggressive strategies to expand abroad, as highlighted by a number of the fashion industry’s top players at the Milano Fashion Global Summit held here Tuesday.
According to data provided by Mario Boselli, president of Italy’s Chamber of Fashion, sales of fashion and textiles dropped 6.3 percent in the first half in Italy. On the other hand, in the January-August period, exports were up 3.3 percent. In particular, Italian companies’ shipments to the U.S. posted an 18 percent increase, and the country’s exports to Japan and Brazil jumped 20 and 21 percent, respectively, even if the South American country accounts for only 2 percent of Italy’s exports. Speakers at the summit focused on the U.S., Brazil and Japan.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"