Italy is almost synonymous with fashion and style, thanks to the country's long history of producing high-quality apparel and fashion. Milan is considered to be one of the fashion capitals of the world and many of the most famous luxury clothing brands in the world come from the country.
These levels of apparel manufacturing enable Italy to have a net positive balance of clothing trade. The value of exports of clothing from Italy amounted to over 22 billion U.S. dollars in 2020, which was lower than in previous years. This drop was to be expected, as the coronavirus (COVID-19) pandemic heavily impacted international trade. Considering the circumstances, a dip of 4.4 billion dollars is not disastrous. Italy exports most of its clothing to other European countries. Four of the top five destinations for textile and fashion goods from Italy in 2021 were located in Europe. France came in top spot, with 193 million euros of goods imported from Italy that year.
Many of the most iconic brands in the world come from Italy, such as Gucci, Prada, and Versace, to name a few. Although, in 1999, Gucci was bought by the French group Kering, which also owns brands such as Yves Saint Laurent and Balenciaga. Guccio Gucci founded the company in Florence in 1921. Now, Gucci is the most lucrative of all Kering's brands, generating 9.7 billion euros of revenue in the financial year 2021.
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Research expert covering apparel industry and general merchandise