Global retailers have expressed their interest in placing orders for bold and eye-catching styles at Milan Fashion Week for the autumn 2024 season. The recent trend towards ‘quiet luxury’ designs characterised by understated elegance, has not really impressed most spectators.
The fashion week, which started on 20th February, following New York Fashion Week and London Fashion Week this month, features renowned names such as Giorgio Armani, Dolce & Gabbana, and Versace.
Global luxury demand has stabilised after a strong post-pandemic rebound, with consultancy firm Bain forecasting a “probable scenario” of 1 per cent to 4 per cent growth in sales this year.
Federica Montelli, a fashion consultant and former head of fashion at Italian high-end department store chain Rinascente, anticipates a shift towards more pronounced creativity in fashion after a period focused on classicism and simplicity.
The National Chamber for Italian Fashion expects this year’s event to attract more international buyers than before the pandemic, with Bosse Myhr, director of womenswear at British luxury department store chain Selfridges, looking forward to a “fashion moment” for Belgian designer Glenn Martens of Diesel.
Some shoppers are cutting back on luxury spending due to an economic slowdown and rising prices, according to Federico Giglio, CEO of Giglio.com, an Italy-based retailer of high-end fashion.
Retailers may concentrate their spending on established labels that make a significant impact on the runway, as emerging brands face challenges in securing investments and buyer interest during this period.