<\/p>\n
\n\t
MILAN \u2014 Milan Fashion Week kicks off Tuesday as the global geopolitical scenario looks increasingly worrisome, with the Russia-Ukraine war and tensions in the Middle East and in the Strait of Hormuz remaining at a critical high.<\/p>\n
\n\tHowever, while acknowledging the challenges and also in light of the structural reset in China, C-suite executives at Italian brands are remaining focused on executing their strategies, seeing further growth potential and turning to the U.S. as one of the key markets to further expand their businesses. As Ramon Ros, chief executive officer of Fendi, put it, companies and the industry at large are facing \u201cstructural changes\u201d which require them to react but also offer opportunities.<\/p>\n
\n\tDespite the clouds hovering over the industry, publicly listed companies such as Prada, Moncler and Brunello Cucinelli reported gains in the first half. In organic terms, Prada\u2019s retail sales rose 3.3 percent in the first half to 1.62 billion euros, accelerating to a 6.3 percent gain in the second quarter, which CEO Andrea Guerra described as \u201cfantastic, of constant growth and expansion,\u201d commenting on the performance at the end of July. Guerra said the luxury group is transitioning into \u201ca new cycle\u201d that also includes Versace, which is sitting out Milan Fashion Week this season as chief creative officer Pieter Mulier settles in after joining in July.<\/p>\n
\n\tIn the first half, Moncler Group\u2019s sales totaled 1.29 billion euros, up 5 percent on the same period last year, and Brunello Cucinelli\u2019s revenue rose 9.5 percent at current exchange to 749.4 million euros, which led the namesake founder to view the results \u201cas truly, truly outstanding.\u201d<\/p>\n
\n\tThat said, Camera della Moda chairman Carlo Capasa earlier this month shared economic projections that forecast 2026 sales of Italy\u2019s fashion and connected industries (including textiles, clothing, leather goods, footwear, jewelry, eyewear and cosmetics) to be down 1.6 percent to 91.4 billion euros compared to 2025.<\/p>\n
\n\tAlthough they continue to be a key driver of the Italian fashion industry, exports are also projected to decrease 2.5 percent to 84.5 billion euros versus 2025.<\/p>\n
\n\tNo matter, looking forward is key for executives.<\/p>\n
\n\tThe Armani Group last week said Dario Vitale was joining as creative director of Emporio Armani and Giorgio Armani Accessories, the first person outside the Armani family to hold this role. Vitale exited Versace last December after merely one collection and was previously ready-to-wear design director at Miu Miu.<\/p>\n
\n\tConcurrently, the group clarified that the Emporio Armani spring men\u2019s and women\u2019s collection to be unveiled Thursday at the Armani\/Teatro was designed by Leo Dell\u2019Orco and Silvana Armani and that it would be revealed through a presentation rather than via its traditional runway show.<\/p>\n
\n\t\u201cCertainly the international context makes consumers more prudent and selective and the entire pipeline moves with caution,\u201d said Armani Group CEO Giuseppe Marsocci. \u201cWithin this scenario the challenge is to continue to evolve without losing one\u2019s own identity; the opportunity is to further strengthen what makes Armani a point of reference. The arrival of Dario Vitale is part of this, not to change a distinctive language but to accompany the evolution with intelligence and sensibility. We can count on the strength of the brand, on solid fundamentals and on a long-term vision that leads us to continue to invest in the product.\u201d<\/p>\n
\n\tMarsocci underscored that Vitale\u2019s arrival marks an important step for the group, confirming a long-term perspective, in continuity with the values and the vision of the late designer. <\/p>\n
\n\t\u201cDario\u2019s talent is particularly strategic to offer a new reading of Emporio Armani, a brand that has strong strategic relevance and is one of the most dynamic expressions of the Armani world. Accessories, too, represent a great growth opportunity. Leo and Silvana will continue to be the custodians of the Armani style in the group, focusing on the Giorgio Armani line and on haute couture, within a creative organization strengthened and oriented to the evolution of the brand.\u201d<\/p>\n
\n\tMarsocci said that Silvana Armani\u2019s work was developed in continuity with her uncle Giorgio, with \u201cher own personal sensibility and measured evolution,\u201d and that the collections \u201creceived an excellent feedback.\u201d <\/p>\n
\n\tThe positive signals registered in the first months of 2026 were confirmed by organic retail growth across the markets, despite the complex scenario, continued Marsocci, expressing confidence and \u201cmaintaining a consistent approach, prudent and always oriented toward the long-term.\u201d<\/p>\n
\n\tIn addition to new stores in Sydney and Taiwan, in October a new Giorgio Armani flagship will open at the SKP mall in Wuhan, \u201ca particularly significant project flanked by an initiative dedicated to Armani\/Archivio and events aimed at clients, press and local opinion leaders,\u201d said Marsocci.<\/p>\n
\n\tAuthenticity, Craft Key<\/p>\n
\n\tAhead of chief creative officer Maria Grazia Chiuri\u2019s second ready-to-wear Fendi show on Wednesday, CEO Ramon Ros highlighted the \u201cstructural changes happening in the company, on the consumer, on the technologies, so I think it\u2019s also super exciting because there are a lot of opportunities in many ways to rediscuss, as an industry, our business model. The industry as such has been growing for the last 30 years, and now it\u2019s a time that comes to question what we do, how we do it. But we see it only positively, honestly.\u201d<\/p>\n
\n\tRos said Chiuri\u2019s products have been in-store for the past two months and \u201cwe are restoring gradually the client excitement and the momentum at all levels and globally, in ready-to-wear, shoes and bags. For the first time we are recapturing all sleeping clients that we had or clients from other high-end brands. If you see the new collection, you will see the quality and the crafting is really, really, really powerful.\u201d<\/p>\n
\n\tRos underscored the importance of craft at Fendi, \u201calways one of the main engines, a really detailed product, for life, and that\u2019s something that we are making even bolder and stronger.\u201d<\/p>\n
\t\t\t\t\tThe state-of-the-art Fendi plant in Tuscany.<\/p>\n
\t\t\t\t\t\t\t\t\tcourtesy of Fendi<\/p>\n
\n\tHe touted \u201copportunities everywhere because I think the gap with our potential is much bigger than with our competitors,\u201d and said Chiuri\u2019s designs for fall have helped lift sales \u201cdouble digit\u201d on womenswear.<\/p>\n
\n\tRos touted that Fendi is \u201cstill investing in our factories, training new younger artisans, opening and renovating stores around the world. We have extremely exciting projects.<\/p>\n
\n\t\u201cCraft will take center stage and speak directly to clients, so we are trying to make sure that the artisans in the factories are able to speak directly with the client and that the client can feel that.\u201d<\/p>\n
\n\tHe underscored Fendi\u2019s evolution while remaining \u201cauthentic with our own essence, making sure we represent the values we stand for in an extremely modern way, so you will find that the stores, the new stores, are becoming more and more sophisticated. The new stores speak more about true craft. I think clients want to invest in good pieces, with the right quality that is obvious to them.\u201d <\/p>\n
\n\tFendi in September last year opened its latest Palazzo in Milan on Via Montenapoleone showcasing art collaborations and bespoke craftsmanship.<\/p>\n
\n\t\u201cThis has been a year of reinvesting, a very intense year, but we still have another intense year ahead,\u201d concluded Ros. \u201cObviously, we started a process and this is a long process. This is about the artisans, the factories, the studio, everyone driving a certain message to the final client. I think that for us, culture is very important.\u201d<\/p>\n
\n\tLifestyle as an Asset<\/p>\n
\n\tDolce & Gabbana co-CEO Stefano Cantino concurred, saying that \u201ccustomers today are surely more aware and attentive, seeking a relationship that is increasingly more personal and asking themselves the meaning of their purchases. <\/p>\n
\n\t\u201cThis requires brands to deliver a clear and consistent storytelling,\u201d he said.<\/p>\n
\n\tCantino joined the Italian brand in April, bringing his experience as an executive at Prada, Louis Vuitton and Gucci to share the CEO role with Alfonso Dolce. Cantino joined the company at a moment of transformation, following the resignation of cofounder Stefano Gabbana from his positions at Dolce & Gabbana Holding Srl, Dolce & Gabbana Trademarks Srl and Dolce & Gabbana Srl. However, Gabbana maintains his creative responsibilities within the group together with Domenico Dolce, Alfonso\u2019s brother.<\/p>\n
\n\t\u201cThe luxury market is going through a deep evolution and continues to offer opportunities in some categories that are more resilient than others, such as jewelry. In this segment we have collections that are already mature and that we will continue to strengthen to catch additional opportunities,\u201d said Cantino, who sees growth prospects also in menswear, the home category, lifestyle, food and beverage as well as further expanding the successful beauty business, brought back in-house in 2022.<\/p>\n
\t\t\t\t\tThe Dolce & Gabbana boutique in Via Montenapoleone.<\/p>\n
\n\tMissoni has also been leveraging the brand\u2019s signature and recognizable motifs to boost its home and lifestyle offer, including the expansion of its branded Resort Clubs in locations from Bali to Dubai.<\/p>\n
\n\tCEO Livio Proli, who has been leading the turnaround of the brand since his arrival from the Armani Group in 2020, has stayed on after equity firm FSI earlier this year became the controlling shareholder of Missoni with a 73 percent stake as the founding family exited its shareholding. Katjes International, through its wholly owned subsidiary Katjes Quiet Luxury, acquired about 27 percent of the Italian luxury brand.<\/p>\n
\n\tProli said the feedback on special occasion garments and beachwear has been especially positive, and he sees further growth opportunities for the brand\u2019s daywear offering. An added asset lies in the \u201ccorrect price for value consolidated over the past five years, resisting the temptation to significantly raise our prices,\u201d he contended.<\/p>\n
\n\tThe first eight months of the year closed with organic sales growth of 15 percent and a further increase in profitability, and based on the forecast for the last quarter, Proli expects \u201ca very satisfying 2026 in terms of KPIs and brand relevance and reputation.\u201d<\/p>\n
\n\tHe teased \u201ca very important show during fashion week next February, which will mark a further turning point in the modernization of our brand and business model.\u201d<\/p>\n
\n\tProli said he is focused on growing like-for-like sales with \u201cincreasingly exclusive products, modern yet iconic,\u201d and he is aiming to create \u201csmall monobrand spaces\u201d with its wholesale partners to generate better sellout.<\/p>\n
\n\t\u201cI strongly believe in creating a solid relationship with our customers differentiating ourselves with distinctive products\u201d offering \u201cpositive emotions\u201d and beauty \u201cinspired by art and culture.\u201d<\/p>\n
\t\t\t\t\tThe Missoni Resort Club project in partnership with The Ritz-Carlton.<\/p>\n
\n\tA New CEO at Jil Sander<\/p>\n
\n\tAt Jil Sander, eyes will be on the strategy that new CEO Marco Vigan\u00f2 will map out. Vigan\u00f2 was named last week, reporting to OTB Group CEO Ubaldo Minelli, who led the brand on an interim basis during the transition period following the exit of Serge Brunschwig in July 2025 after six months in the role.<\/p>\n
\n\tVigan\u00f2 previously served as global chief client officer and president Europe, Middle East and Africa at Moncler, and developed his career in commercial and operational leadership roles at Audemars Piguet, Saint Laurent, Louis Vuitton, Gucci and L\u2019Or\u00e9al.<\/p>\n
\n\tBefore this appointment, Minelli said Jil Sander\u2019s women\u2019s accessories and ready-to-wear designed by Simone Bellotti, who debuted his first collection for spring 2026, \u201cis receiving excellent feedback both from new and loyal customers.\u201d<\/p>\n
\n\tHe admitted the first eight months of the year were \u201ccomplex\u201d for the brand in alignment with the industry and the market scenario, but that all direct channels, retail, full price, online and outlets, \u201cwhich are marginal for us,\u201d are growing organically and like-for-like compared with 2025. There are 70 Jil Sander stores globally, including two pop-ups, a number that has remained stable compared with the previous year since the priority is to improve the profitability of the existing stores, \u201cwhere we still have significant growth potential.\u201d<\/p>\n
\n\tMinelli said the brand is planning \u201can important activation\u201d in China in November, with Shanghai at its core, but was mum on details.<\/p>\n
\n\tIn 2027, the focus will be on the U.S., where the brand is growing, noted Minelli, and Jil Sander in the first quarter is expected to open a flagship in Los Angeles at 8421 Melrose Place. \u201cThis investment is part of a more expansive strategy aiming to consolidate and develop Jil Sander\u2019s directly operated retail network,\u201d said Minelli.<\/p>\n
\n\tJapan is Jil Sander\u2019s top market and \u201ccontinues to grow,\u201d said Minelli, citing a positive performance also in Korea, albeit still relatively small. \u201cSince January, Korea and Japan have become part of a new region, Northern Asia, and this allows us to work in an even more focused way on this market,\u201d he explained.<\/p>\n
\n\tOTB also controls Diesel, Maison Margiela, Marni, and Viktor & Rolf and last week it revealed that Glenn Martens will exit Diesel following its spring 2027 show Tuesday. Martens will stay on as creative director of Maison Margiela.<\/p>\n
#Italian #Luxury #Brands #Navigate #Growth #Global #Challenges<\/p>\n","protected":false},"excerpt":{"rendered":"
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