Italian fashion revenues continue to outperform Italy’s broader economy, and in the last part of 2016 and in the first quarter of 2017 they even picked up speed. That would already be good news in itself, but it is even more so because the textile and fashion industry is Italy’s largest after machinery.

“If we consider the fashion system in the widest sense, including products such as eyewear, jewelry and cosmetics, in 2016 the turnover was close to €84 billion,” said Camera della Moda President Carlo Capasa at the Sole 24 Ore Luxury Summit. “Exports amounted to $62 billion, creating a surplus of $25 billion, half of Italy’s total, which in 2016 recorded an absolute record. The fashion system, I will never stop repeating, promotes a positive image of Italy in the world and is an extraordinary economic engine.”