Fall Fashion Week Heads to Milan as Euro Zone Crisis Looms

The Euro Zone Debt Crisis threatens the Italian Fashion IndustryNYC got its share of fashion week recently, but now the show is heating up in Milan where Armani, Prada and more will hit the cat walk to show off the latest in frosty autumn/winter apparel.

A Yahoo News story picked up an interesting angle on the trend show noting that sales of Italian fashion are forecast to be down 5.2% in 2012, which will mark a slowdown for the $79.59 billion/yr. fashion industry.

Top designers, such as the aforementioned Armani and Prada, should weather the storm “almost unscathed” however smaller design shops have to be creative to avoid heavy losses.

“We need to be innovative, because people who buy fashion have their wardrobes full, so they want something different,” says niche designer Alessandro Dell’Acqua.

Fashion sales within Europe are expected to decline this year, but exports outside of the European Union are forecast to grow two percent.  Hopefully the recovering American economy will be enough to offset the lack of Euro Zone funds.

Photo Credit: Renjith Krishnan

This entry was posted in Fashion, Wardrobe and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>