The recent passing of Valentino Garavani, often called “The Last Emperor,” has sparked reflection on the end of an era for Italian fashion. Just months prior, Giorgio Armani, another influential Italian designer, died.
Paola Fendi stands as the final member of a collective of designers who propelled Italian style to global prominence, a group that included Gianni Versace, Moschino, Missoni, Krizia, and many others.
The late 1980s, coinciding with Italy’s economic surge, represented the peak of “Made in Italy” fashion. Milan became the epicenter of style, and the major fashion houses remained independent, free from foreign ownership.
But what does the conclusion of this generation signify? Is Italian excellence in fashion waning, and what lies ahead?
Carlo Fei, an international brand strategy consultant and professor at Luiss University specializing in Fashion and Made in Italy industries, believes there’s no cause for alarm.
“The question isn’t whether a brand is Italian or not, but its ability to understand market dynamics,” Fei explained.
“I don’t believe the loss of these iconic figures will spell the end of the ‘Made in Italy’ brand, particularly in fashion,” he stated. “I also disagree with the idea that foreign acquisition diminishes the appeal of Italian brands.”
‘Style must last and not obey seasonal trends’
Fei argues that effective brand management is more crucial. “The personal luxury market is valued at 360 billion euros and requires protection,” he added. “Valentino was a visionary who understood that style should endure, transcending fleeting trends. The current popularity of secondhand clothing demonstrates this principle.”
The intersection of foreign investment and Italian brands, according to Fei, is mutually beneficial. “These investments have sustained brands during challenging times. Major French groups have facilitated growth for some Italian brands that wouldn’t have been possible independently.”
A 2024 report by Istituto Marangoni revealed that, despite global uncertainties, Italian groups like Prada and Moncler outperformed French giants Lvmh and Kering.
“Numerous Italian brands continue to thrive,” Fei said. “Prada, Brunello Cucinelli, Moncler, and Tod’s are prime examples. Brand ownership is secondary to effective management.”
The fashion landscape has evolved significantly since the golden age of Italian fashion, with shifting consumer demands and a rapidly changing market.
“In this environment, brand credibility is paramount. Those who adapt to these changes will succeed. Companies that have benefited from the ‘Made in Italy’ label have a responsibility to safeguard it,” Fei concluded.
