Gucci, Dolce & Gabbana, Fendi and Missoni are amongst Italy’s high labels displaying at Milan Fashion Week beginning Wednesday (Feb 22), with the industry buoyed by bumper gross sales outcomes regardless of war-fuelled financial uncertainty.
American megastar Kim Kardashian is anticipated to convey some celebrity stardust at an occasion hosted by Dolce & Gabbana to rejoice her Ciao Kim line, which had its debut within the northern Italian metropolis in September.
Renowned manufacturers resembling Etro, Giorgio Armani, Prada, Bottega Veneta and Moschino are additionally amongst displaying their Autumn/Winter 2023 collections, with 59 runway exhibits on the official schedule between now and Feb 27.
Fendi kicked off proceedings with a set that performed with punk, with slashed knitwear and shrunken wools, and comprising boilersuits and masculine tailoring twisted into female kinds.
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“It’s deconstructed, however luxurious. There’s somewhat nod to punk, and my admiration for DIY, however moved on in the direction of one thing stylish,” defined inventive director Kim Jones.
Also on the sidelines will likely be exhibitions by US video artist Bill Viola, and the late French vogue photographer Guy Bourdin, whose present is curated by Giorgio Armani.
Meanwhile, the primary Black Carpet Awards will happen on Friday (Feb 24), a gala night organised by the Afro Fashion Association to rejoice range – the shortage of which has lengthy been a difficulty in Milan.
Despite the power disaster and world uncertainty brought on by the struggle in Ukraine, which erupted virtually precisely one yr in the past, the main luxurious manufacturers are flourishing.
French big LVMH, whose Italian manufacturers embrace Fendi, Bulgari and Loro Piana, reported a 23 p.c improve in gross sales and 17 p.c rise in internet revenue in 2022 – each new data for the group.
‘Exceptional’ yr
Meanwhile, rival Kering reported a 14 p.c rise in its internet revenue, with gross sales up 15 p.c, regardless of poor performances by flagship manufacturers Gucci and Balenciaga.
Figures from Italy’s nationwide vogue chamber (CNMI) verify the constructive development, with the sector recording better-than-expected revenues of €98.3bil (RM463bil) in 2022, up 18 p.c on the earlier yr.
“Growth like that of 2022 was distinctive,” reflecting a lift after the pandemic, mentioned vogue chamber head Carlo Capasa.
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While decrease gasoline costs and hopes of cooling inflation have fuelled hopes of a very good 2023, the style chamber is cautiously predicting 4 p.c growth, nearer to pre-pandemic ranges.
“Perhaps we may do even higher however there’s a struggle on Europe’s doorstep, uncertainty about power prices – and we hope that China is out of the pandemic,” Capasa informed reporters Tuesday (Feb 21).
Gucci’s figures had been damage by the weak Chinese market, the place the Covid-19 restrictions which have crimped procuring habits had been solely lifted in December.
Sales fell 11 p.c through the fourth quarter at Gucci, the place Sabato De Sarno was named new inventive director in January following the shock resignation of Alessandro Michele in November. – AFP
