MILAN, Oct. 21 (Class Editori) – China and new generations will overcome economic and political uncertainties at the end of 2019. “Despite the present is at the mercy of uncertainties, in the medium term the forecasts remain more than positive,” said Fabio Fusco, managing director of the global Corporate & Investment banking division of Bank of America to MFF (Class Editori group).
Partner of Class Editori in the organization of the Milan Fashion Global Summit, whose 18th edition will take place in the capital of Italian fashion on next October 22, Bank of America is a protagonist of the business world in fashion and luxury, where it took care of the placement of global brands, including Brunello Cucinelli, Moncler, Jimmy Choo.
“In the medium term, growth for the next five years should be around 4-5%. Apparently, the strength of the Asian consumer and in particular of China are not going to stop. Then there is the advance of the new generations Y and Z, which will represent 50% of the personal luxury market in 2025,” explained the business banker.
According to Fusco, China will continue to be the number one target. “I remember that during the Milan Fashion Global Summit in 2004 in which I took part, the speakers, including Miuccia Prada and Renzo Rosso, said that in the following ten years China would represent the first world market for fashion and luxury created and produced in Europe. They were right. Fifteen years later, China is worth one third of the global luxury market. But today the ways to get there are changing, with digital marketplaces becoming increasingly important every day.”
How are the new generations of consumers different? “They are the main agents of change, the forces that are pushing fashion companies to pay more attention to social issues, work ethics, environmental protection, inclusiveness, sharing of innovation processes with community and social networks for transparent information,” Fusco admitted.
“Sustainability, sharing economy, second-hand or vintage - the latter is already worth 25 billion dollars - have now entered the vocabulary of many, if not all, the industrial plans of large and medium-sized groups,” Fusco concluded.
A direct confirmation of the centrality of the Chinese market, not only for its size, but also for the recent focus on sustainability, comes from the designer Gilberto Calzolari who will introduce in Shanghai, at the China international import expo scheduled for next November 5 to 10, its prêt-à-porter brand with a green soul, with which it won the award for Best emerging designer at the Green carpet fashion awards 2018.
The designer will exhibit some looks from the f-w 2019/20 collection at the second edition of the event that most marked the Chinese government's desire to open up to imports from the markets of the world, inviting foreign companies to present their products and services with the aim to strengthen cooperation and promote the development of a global economy.
Italy will be among the guests of honor at the event. Calzolari, attentive to the values of environmental sustainability and Made in Italy luxury quality, will be the protagonist together with three other designers of an installation with a selection of looks from the f-w 19/20 collection, displayed along the arches of an internal structure in the Italy pavilion.
The looks presented by Calzolari, part of the collection entitled Unnatural, reflect on the concepts of natural and artificial through the representation of a nature filtered and altered by man, as in the kimono jacket in brocade fabric with floral motifs that shine in lamé reverberation or as in the transparent blue pvc blouse, a tribute to the provocative works of Damien Hirst, where nature is immersed in formaldehyde.
Or even in the dress made with the citrus packaging which, after being hand decorated with scrap embroidery materials, becomes a real couture tulle.
(Source:Class Editori)
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