Valentino Garavani - both as designer and as businessman - was one of the few remaining figures who paved the way for Italy’s fashion golden era which defined global luxury. His death raises the question of whether the "Made in Italy" fashion model can thrive in a changing global market
For many the death of the “Last Emperor” is seen as the natural ending of a an entire generation of fashion designers. Only a few months ago, Giorgio Armani, another Italian runaway genius died.
Paola Fendi is the last remaining member of a group of creatives who made Italian style known all over the world. It included names such as Gianni Versace, Moschino, Missoni, Krizia and many others.
The late eighties, also known for Italy’s economic “boom” were the golden era of so called “Made in Italy" fashion brands. Milan was the hot spot – everyone wanted to get dressed there - and none of the biggest fashion houses had yet been acquired by foreign investors.
So - what should we make of the fact that this generation has come to an end? is the “Italian” excellence in fashion over and what does the future have in stock?
According to Carlo Fei, an international consultant in brand strategy and a Professor at Luiss University where he teaches Fashion and Made in Italy industries – there is no reason to panic.
“The issue is not whether a brand is Italian or not, but rather the ability to understand how markets function”, he told Euronews.
“I don’t think that the passing of these iconic figures, is going to determine the end of the Made in Italy brand, especially in fashion” he said. “And I don’t buy the narrative according to which, the fact that some of these fashion houses have been bought by foreign investors weakens the attractiveness of Italian brands”.
'Style must last and not obey seasonal trends'
Fei believes that it has more to do with the way a fashion brand is managed. “The personal luxury market is worth 360 billion euros and has to be protected”, he added. “Valentino was a visionary who realised early on that style must last and did not obey seasonal trends. The popularity of second-hand clothing these days is proof of that”.
According to the fashion expert, the intersection between foreign investments and Italian brands “is a win-win scenario”. “They have sustained brands at a time of crisis. Big French groups helped some Italian brands grow. They would not have been able to do that on their own”.
A report by Istituto Marangoni from 2024 confirmed that, despite the geopolitical uncertainty, Italian groups like Prada and Moncler outperformed French giants like Lvmh and Kering.
“There are so many Italian brands that are still doing great”. Fei said. “Take Prada, Brunello Cucinelli, Moncler and Tod’s, but it doesn’t matter who owns the brand, it’s all down to how they are being managed”.
The fashion industry has certainly changed since the Italian heyday of fashion, clients’ demands are no longer the same and the market is evolving rapidly.
“In such a climate, where a brand’s credibility matters more that a mere display those who understand how to surf such changes will grow. Companies that have benefited from selling under the Made in Italy label should also be the ones who protect it”, Fei concluded.
