MILAN — Milan Fashion Week kicks off Wednesday as COVID-19 and its Omicron variant gradually ease their grip on the country after a successful vaccination campaign and months of restrictions, which are slowly being lifted. The return to IRL shows couldn’t have come soon enough, although masks remain mandatory in closed spaces and social distancing is still strongly encouraged.
The growing cost of energy, petrol and gas, and the spike in the price of textiles — which, according to Italy’s Camera della Moda, rose between 30 and 40 percent last year — and geopolitical tensions close to the country’s borders as Russia appears poised to invade Ukraine, weigh on prospects. But the general mood has decisively improved compared to only a few months ago.
Related Articles
According to preliminary figures reported by the Camera della Moda, the industry’s revenues last year are expected to show a 12 percent increase to 83 billion euros compared to 2020, but they are still down 7.8 percent on 2019. That said, a recovery to pre-pandemic levels is forecast for 2022, a year earlier than expected. Last year, exports rose 21 percent to 68 billion euros compared with 2020.
You May Also Like
The European Commission earlier this month trimmed its forecast for Italy’s gross domestic product growth in 2022 to 4.1 percent, down from the 4.3 percent it predicted in November and forecast a rise of 2.3 percent in 2023.
“I face this moment with my proverbial pragmatism, looking at facts with lucidity, without useless pessimism or cosmetic enthusiasm,” Giorgio Armani told WWD. “Although the moment is complex, business does not appear to be impacted. On the other hand, the recovery is faster than expected on all markets and all brands, without significant distinctions. This confirms the solidity of our strategy. The choice to do ‘less but better’ rather pushes us to an increased selection of initiatives, which benefits all sides.”
After canceling the shows for his men’s signature brand and Emporio Armani in Milan and for his Privé collection in Paris in January, the designer will hold his regular shows in Milan, both coed. “We have not left the pandemic behind us entirely, but we are closer to a return to normalcy,” said Armani, who noted that he is always present at his headquarters, while some of his collaborators work from home. “In some areas, presence is required three out of five working days. The general mood is energetic and positive. Expectations for the shows are high within the company, since we skipped them entirely during the month of January.”
He characterized the week’s calendar as “busy and well-balanced, where new names and established ones are both on the scene. Italian fashion returns to show a united front, and reflects the positive moment for the country,” said Armani, referring to Sergio Mattarella being confirmed as Italy’s president and to Prime Minister Mario Draghi’s policies. Armani said they are “influential and convey a sense of confidence in the uncertainty of the present moment, they are guarantors of Italy at its best, one that everyone admires and respects.”
The first A|X Armani Exchange store has just opened in Milan, which is seeing brisk real estate activity, also in light of the Winter Olympics that will be held here and in Cortina d’Ampezzo in 2026.
“We have closed 2021 with the opening of our new boutique in Milan Galleria Vittorio Emanuele and have started 2022 with global new openings, including the recent inauguration of Marina Bay Sands in Singapore,” said Fendi chairman and chief executive officer Serge Brunschwig. “For the occasion, the whole landmark building was lit up in our iconic Fendi yellow, as we did in iconic sites around the world, from Times Square in New York City to the Towers of the Shanghai Global Harbour, Shibuya Scramble Crossing in Tokyo and the majestic Burj Khalifa, making it the highest logo in the world, almost 1 kilometer high flying above Dubai sky.”
Fendi is also planning to open its first store dedicated to its home line in Milan in March.
With 13 large windows on the street and covering 7,560 square feet, the unit will be located in central Milan in a landmark building a few steps away from the storied La Scala theater in the arty Brera district. “Luxury has to be experienced, and it is vital for clients to physically be immersed in the Fendi world through our boutiques, in the same way it is highly important to be back with physical fashion shows,” the CEO said.
Fendi, which did not forego its men’s show in January, will hold its women’s show Wednesday.
Dean and Dan Caten also went the IRL route for Dsquared2 last month with their men’s collection and likewise on Feb. 27 for the women’s lineup for fall. “We put our foot forward and jumped, we didn’t want to be pushed around by the virus,” said Dean Caten. “At the same time, we want to be cautious,” said his brother Dan. “It’s such a rewarding sensation, after two years working behind the scenes. The shows are such a moment of gratification, a climax.”
Massimo Ferretti, executive chairman of the Aeffe Group, said there was a renewed “relaxed and positive attitude” after the past two difficult years impacted by the pandemic. “There is such a strong need for a return to physical events,” said Ferretti, adding that he is expecting “90 percent of the group’s clients in our showroom, including a big presence from Eastern Europe,” praising the Camera della Moda’s decision to accept the arrival of foreigners vaccinated with Sputnik V.
The company has just opened a Moschino boutique in Dubai in “a prestigious location,” said Ferretti of the Fashion Avenue on the ground floor of the Dubai Mall. “In addition to the Middle East, with Moschino we will continue our expansion in the Chinese market where we are creating a structure with a centralized organization to support the needs of this market in the best possible way,” said Ferretti. Moschino, designed by Jeremy Scott, is returning to show in Milan this season.
Ferretti said all of the group’s brands will be consolidating their markets in the year, but the company is also “gearing up to face new international challenges.” Aeffe is listed on the STAR segment of the Milan Bourse and controls the Alberta Ferretti, Moschino, Philosophy di Lorenzo Serafini and Pollini brands.
For Alberta Ferretti and Philosophy di Lorenzo Serafini, the company is paying special attention to markets such as the U.K., the U.S. and some Eastern countries where it is planning partnerships with local players. “We are also working on a number of collaborations with prestigious companies in different sectors, along the lines of those made by Alberta Ferretti with Lancia and Wolford, and for Philosophy with Smiley,” noted Ferretti. Three openings in Italy are in the pipeline for Pollini in the next few months.
Asked about the increase in raw materials and energy prices, the executive said: “We are paying attention to costs, but we are not changing our prices, perhaps a slight increase, but we do not want to hit our customers. We are rationalizing our buying, given the shipments and the prices of raw materials, we’ve rationalized our processes. The cost of energy is a problem but we’ve had a photovoltaic plant since 2009, so we are self-sufficient and independent.”
He also praised Mattarella and Draghi for their work. “This is a winning pair for our country. A change in the government would not have helped Italy, which is showing a growth above the European average, and in 2022 will be able to conclude projects initiated with the European funds,” he said.
Brunello Cucinelli echoed the sentiment. “Italy is credible again,” he said, praising Mattarella’s and Draghi’s work and “lessons in democracy. We can only imagine a special and beautiful future for the country.”
He waved away concerns about inflation and, asked about potentially raising the brand’s prices, he said this is not in the pipeline as “multiples are so high in the luxury industry that the cost of raw materials does not have a big incidence,” while adding that, in general, the company reviews prices twice a year with the new seasonal collections.
Ennio Fontana, general manager of Roberto Cavalli, was also upbeat, touting a strong growth last year that he expects to continue in 2022. Last year, sales rose 33 percent compared with 2020 and he expects a 42 percent gain in 2022.
Designed by Fausto Puglisi, the brand has again become a favorite of several high-profile celebrities, from Jennifer Lopez to Gwen Stefani and Ciara.
Fontana has been busy cleaning up the brand’s distribution and after closing the existing stores in the U.S. and China, the first store in the U.S. will open in Miami at the Bal Harbour Shops. He said he is finalizing an agreement for a Las Vegas unit.
The executive revealed that, starting next summer, the Just Cavalli brand will no longer be produced by OTB’s Staff International, and that the company will bring its production back in-house, further fueling revenues in 2023.
An eyewear collection licensed to De Rigo at the end of the year will also boost visibility of the brand. Roberto Cavalli is internalizing its online store, which was previously managed by Farfetch. Also, a new concept for the Cavalli Café will bow in Milan soon.