Armani, Dolce & Gabbana to go live for Milan Fashion Week

The Milan fashion chamber on Tuesday projected a 15%-20% increase in 2021 revenues compared with 2020, when revenues for clothing generated by Italian fashion houses plunged by nearly a quarter to 51.5 billion euros ($63 billion) due to the effects of the pandemic.

Adding in eyewear, jewelry and cosmetics, Italian brands are expected to generate over 80 billion euros ($98 billion) in income, an increase of 17% over 2020.

“It is a good sign, better than we expected,” Italian National Fashion Chamber President Carlo Capasa said. “We should close 10% lower than 2019, but it looks like a net recovery, and we hope to return to our usual levels in 2022.”

While luxury was one of the hardest-hit sectors during the pandemic, Capasa underlined that fashion was one of the most dynamic in March among Italian industries. He noted that orders still had not reached hoped-for levels, indicating a level of “prudence” in the market.