Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
Collection structure, product range, sourcing, logistics and sustainability are the key elements that will undergo radical changes in the high-end textile and apparel sector, according to a study by Sistema Moda Italia.
Amazon and Japanese SoftBank have made approaches to Russian conglomerate Sistema about a possible acquisition of its online retailer Ozon, Sistema's majority owner Vladimir Evtushenkov said on Saturday.
In 2017, the Italian textile/fashion industry generated an estimated revenue of €54 billion, up 2.4% and above last June’s estimate of +1.8%, driven by exports to China and Russia. However, exports to the US fell 1.7%.