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.
The chief of Vago Spa, a firm specialising in textile finishing, has been appointed president of SMI, the industry trade group for Italian textiles and apparel. Vago will assume his new role in March 2018.
Florence was brimming with energy on Tuesday with the opening of the industry’s most important men's fashion salon, boasting 1,231 exhibitors with attendance projected at 30,000, including nearly 20,500 buyers.