In recent years, the Italian fashion sector has gone through a complex phase, characterized by a contraction in revenues and structural difficulties that have put the entire production chain to the test. To address these challenges, the Ministry of Business and Made in Italy: presented a new “fashion plan”, aimed at supporting the sector through targeted investments and relaunch strategies.
The meeting, held in Milan, saw the participation of important representatives of the luxury industry and institutions, including National Chamber of Italian Fashion, Altagamma Foundation and the vertices of Invitalia, Cdp, Sace and Ice. Although the presence of the president of the Giorgia Meloni's advice, the government agenda has undergone changes, making its participation impossible. However, the executive's interest in the sector remains high, as demonstrated by the commitment of Minister Adolfo Urso, the main promoter of the initiative.
A troubled scenario: numbers and prospects
According to the data of the National Chamber of Italian Fashion, the sector, which also includes jewelry, cosmetics and eyewear, closed 2024 with a 5,3% drop in revenues, settling at 96 billion euros. The analysis by Altagamma and Bain highlights a particularly critical period for production, with a 20-25% reduction in volumes in the luxury sector. Further complicating the picture is the uncertainty linked to possible trade duties and the fragile recovery of the Chinese market.
The difficulties of the sector are also reflected in the employment front: in the last ten years, approximately 28 thousand jobs have been lost in the textile, fashion and leather goods sectors, while over 12 thousand companies have closed their doors. The liquidity crisis is putting a strain on small and medium-sized businesses, many of which are struggling to sustain salaries and repay the loans requested during the pandemic. Although the Government has extended the redundancy fund, the allocated funds have not been used as planned, leaving many of the existing critical issues unresolved.
The fashion plan: relaunch strategies and support for the supply chain
During the meeting in Milan, Minister Urso outlined the main guidelines of the plan, which aims to strengthen the sector by supporting investments and protecting the production chain. The measures envisaged include guarantee funds for businesses, financing for the ecological and digital transition, and incentives for the internationalization of the sector.
The plan provides for an allocation of 250 million euros for 2025, divided as follows:
- 100 million for development contracts;
- 100 million for mini development contracts;
- 15 million allocated to the ecological and digital transition;
- 30,5 million for the promotion of sustainability.
These resources are part of a broader package of 22 billion euros, intended to support the entire Italian productive fabric.
A future to build together
The need to strengthen the fashion supply chain has been underlined by the main players in the sector. Carlo Capasa, President of the National Chamber of Italian Fashion, highlighted the importance of coordinated action between institutions and businesses to ensure the competitiveness of the Made in Italy. Matteo Lunelli, President of High-end, reiterated the centrality of small and medium-sized enterprises in the fashion system, underlining the need to protect them in a phase of strong geopolitical and economic uncertainty.
The next step will be the presentation of the plan to the trade associations on March 19 and, subsequently, the discussion at the fashion table called for March 24. "It's time to team up and enhance our know-how", declared the minister Ursus, underlining the importance of a collective commitment to relaunch a sector that represents one of the pillars of the Italian economy and culture.
