If the generalized increase in prices (9% at an industrial level and 3% for the end customer on average in 2022) has inevitably fueled turnover, the performance of Made in Italy fashion seems to be booming even net of this factor: according to the data of the National Chamber of Italian Fashion, released yesterday at the presentation of the Milan men’s fashion week, the turnover of the sector (together with related sectors, such as jewelery and eyewear) in 2023 will reach 103.5 billion euros, achieving an increase of 5.3% which has already been revised upwards compared to the estimates made at the beginning of the year. «We thought we would have to face a series of difficulties – said Carlo Capasa, president of the CNMI – but it didn’t happen. Not only turnover has grown, but also production volumes, not in all segments but for example in clothing and footwear».
Exports on the rise and driving the menswear sector
Thanks above all to orders from abroad which will push exports to 93 billion euros, up 7.5 percent. The first months went better than the estimates: «In the first two months of this year – explains Matteo Zoppas, president of Ice (which supports the fashion week with Ice Agency) – the value of the estimates of the textile clothing sector has grown by about 13% compared to 2022, almost 11 billion euros and menswear is driving the sector».
The growth rate of exports estimated for 2023 has nothing to do with the post-Covid rebound which had caused double-digit sales of Italian fashion abroad, but exceeds the increase in 2019, thanks to the performance of The USA, Korea and also China which, once the lockdowns are over, has started buying again.
Fashion week in Milan with 72 events
And many Chinese buyers, after more than three years, will return to Italy for the Milan Men’s Fashion Week dedicated to the SS 2024 collections, scheduled from 16 to 20 June immediately after Pitti Uomo. The men’s fashion week reflects the dynamism of the sector: there are 72 appointments scheduled in Milan, including many fashion shows by big brands – the Valentino men’s show will open – and others by new talents. And then events such as the Milan Fashion Film Festival, now in its ninth edition.
The importance of the fashion sector for the Lombard capital was also underlined by Alessia Cappello, councilor of the Municipality of Milan with responsibility for Fashion: «The last fashion week brought an induced amount of 70 million euros to the city and tourism has restarted with record numbers. Cappello, who also has the delegation to work, wanted to turn the spotlight on the lack of manpower in the luxury fashion sector and on the importance of actively working to make the sector more attractive to the younger eyes: «Let’s do something, the institutions together with the supply chain, to make artisanal trades attractive».