By  on December 27, 2012

MILAN — The European financial crisis may have hit the Italian textile industry’s bottom line, but it hasn’t stopped its creative, innovative impulse.

According to forecasts by Italian fashion and textile consortium SMI Sistema Moda Italia, the Italian fashion and textile industry’s revenues are expected to drop 4.4 percent in 2012 to 50.45 billion euros, or $66.74 billion at current exchange rate. But Italy’s yarn manufacturers continue to invest in research to boost their businesses and be competitive on the international scene.

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