Milan Fashion Week buyers seek bold designs to spark spending

Giglio.Com SpA

20/02/2024 10:41

By Elisa Anzolin
       MILAN, Feb 20 (Reuters) - Global retailers said they
were hoping to place orders for bold, eye-catching styles at
Milan Fashion Week for the autumn 2024 season, despite a recent
trend for so-called "quiet luxury" designs characterized by
understated elegance.
    The clothing trade show, which starts on Tuesday, following
New York Fashion Week and London Fashion Week this month,
includes big names such as Giorgio Armani, Dolce & Gabbana and
Versace.
    Global luxury demand has settled down after a strong
post-pandemic rebound, with consultancy firm Bain forecasting a
"probable scenario" of a 1% to 4% growth in sales this year.
    "After a period where brands were focused on classicism and
simplicity, on 'quiet luxury' and timeless products, I expect a
move towards more pronounced creativity," said Federica
Montelli, fashion consultant and former head of fashion at
Italian high-end department store chain Rinascente. 
    "Given smaller retailers' budgets, I hope they can find a
push to go further (over that budget)," she added. 
    The National Chamber for Italian Fashion said this year's
event is expected to attract more international buyers than it
did before the pandemic, but did not provide figures. 
    Among those buyers will be Bosse Myhr, director of
womenswear at British luxury department store chain Selfridges.
    Myhr said he hopes to see a "fashion moment" for Belgian
designer Glenn Martens of Diesel. The Italian streetwear brand
sells shimmery denim jackets for $995 and stretched leather
bootcut trousers for $950.
    Some shoppers are tightening their spending on luxury goods
amid an economic slowdown and rising prices, said Federico
Giglio, chief executive of Giglio.com, an Italy-based retailer
of high-end looks from Versace and Valentino, among other
brands.
    Given that, "what we expect from the collections is that
designers come up with something new, which can motivate people
to spend," he added.
    Retailers may direct their spending to big-name labels that
make the biggest splashes on the runway. "This is a difficult
time for emerging brands ... because they need strong
investments and it takes a risk appetite on the part of buyers
that is not there at the moment", Giglio said.  
    "Quiet luxury" remains the dominant fashion trend, implying
higher-priced products and a more affluent customer base,
according to a Bank of America research report released in
January.
    "We believe that throughout the year brands should focus
back on fashion content and newness in order to re-engage
customers and drive traffic," the report said.
     
    CREATIVE DIRECTORS IN THE SPOTLIGHT
    Gucci parent Kering is planning a relaunch of the brand this
year as it prepares for creative director Sabato De Sarno's
third show since he took on the role last year.
    British designer Peter Hawkings will present his second
collection for Tom Ford, after being named creative director at
the fashion house last April, taking over from founder Tom Ford.
    Matteo Tamburini will present his first collection as
creative director of luxury shoemaker Tod's. 
    Adrian Appiolaza will debut as creative director of
Moschino, controlled by Italian fashion group Aeffe  AEF.MI .
Its previous director, David Renne, died in November at the age
of 46, only a month after taking up the role.

 (Reporting by Elisa Anzolin; Editing by Crystal Chesters)
 ((mailto:elisa.anzolin@thomsonreuters.com; 0039 0266129692;))