The Italian Job Italy tomorrow to deal with recession
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2009, the Italian fashion industry to start a negative, owns, such as Gianfranco g-star Ferre and Malo clothing brand group IT Holding announced that due to their inability to pay off debt filed for bankruptcy protection, while data show that in 2008 the Italian fashion industry sales fell 4 percent overall, more will be expected to decline 5 percent this year. Italian Fashion Association, said the beginning of the year Mario Boselli, the Italian fashion has been facing an unprecedented situation. Of course, Dolce & Gabbana and Giorgio Armnai, such as zero-liability company, an economic crisis that they will bring enormous business opportunities, but some heavily indebted companies have to face the risk of insolvency.
In addition to several large-scale, such as Ermenegildo Zegna Group, the Italian fashion to a large number of small-scale textile companies, is still a considerable number of family businesses today. These companies may become a victim of the financial tsunami. In April this year, a huge aid in the automobile industry, the Italian government introduced the fashion industry to 160 million euros of financial assistance to help small and medium-sized out of the woods. After nearly three months in the Milan Men's Week, Boselli said "the retail market's performance over the past two months than expected," the arrival of a discount period, as well as industrial production growth of 1.1% so that he saw light Boselli. However, the current situation is g-star still tense, because the United States, Japan and the Russian market in the doldrums, the Italian fashion in the first quarter of this year, exports fell 16.2 percent.
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