MILAN: On Wednesday, the fashion set moves to Italy for Milan Fashion Week. Moschino’s new designer took part, but the event was held amid uncertainty about the outlook for luxury goods.
The women’s runway shows from Fendi, Prada, Versace, Dolce & Gabbana and more promise a festive atmosphere and mayhem in the fashion capital of northern Italy.
Following fashion weeks in New York and London, Milan is once again having a moment in the spotlight, with the autumn/winter 2024-2025 calendar hosting 56 runway shows until Sunday.
However, these developments were realized against a backdrop of uncertainty in the global luxury fashion market.
A weaker growth outlook, inflation concerns, a slowing Chinese economy and geopolitical risks could push global growth to just 3% to 5% this year, according to McKinsey’s State of Fashion report released in November. looming in this sector, which is expected to remain.
This is lower than the estimated 5-7% in 2023.
Italy’s fashion sector – which includes clothing, leather, shoes, jewellery, cosmetics and accessories – grew by 4% last year to nearly 103 billion euros ($110 billion), according to estimates from the Italian National Chamber of Fashion. Ta.
The association’s president, Carlo Capasa, said it was too early to know what 2024 would portend for the industry.
“This is a complicated year. We need resilience,” Kapasa told reporters earlier this month.
“We know there are three wars: the European and American elections. This year is a year of transition.”
Sparkling people gather
But as the glamorous crowd gathers for a week packed with the best in fashion, nerves are rarely on display in the front rows.
More than 100,000 people, including buyers, media and brand representatives, are expected to attend Fashion Week, a 10% increase compared to February last year, Kapasa said.
High on fashion watchers’ lists will be Adrian Apiolaza’s debut collection for Moschino on Thursday.
The Argentinian designer, previously at Loewe, was appointed creative director of the irreverent, pop-influenced brand last month, following the death of his predecessor just 10 days into the role.
Gucci veteran Davide Rennes, who died in November, was hired after Jeremy Scott left after 10 years at the helm.
Founded by Franco Moschino, the label is often adorned with slogans such as “Innocent Gold” and “Good Taste Doesn’t Exist,” as well as references to iconic consumer brands from McDonald’s to Barbie. He is known for his many, playful and quirky pieces.
The debut collection is also expected to feature Walter Chiapponi of Blumarine, the frivolous, jeans-focused brand formerly headed by Nicola Brognano, and Matteo Tamburini of Tod’s.
Chiapponi, who had been artistic director at Tod’s since 2019, was replaced by Tamburini, who most recently served as Bottega Veneta’s head of ready-to-wear.
