MILAN — A shrinking show calendar, currency volatility and macro economic issues at the tail end of a period of local political instability following Italy’s general elections were only some of the concerns weighing on executives on the eve of Milan Men’s Fashion Week.
But on the upside, business is chugging along steadily. Revenues generated by the fashion sector last year grew 2.5 percent to 64.8 billion euros, and exports rose 4.3 percent to 50 billion euros, according to Camera Nazionale della Moda Italiana’s Fashion Economic Trends report issued in May. The first half is expected to show 1.5 percent growth in sales compared with the same period last year. Last week, the updated Altagamma Worldwide Market Monitor and Bain & Co. study painted a pretty picture, as the global personal luxury goods industry is expected to grow 6 to 8 percent at constant exchange compared with the 5 percent growth forecast last October for 2018.