Italy Launching 20 Million Euro U.S. Fashion Plan

EYES IN™ Magazine Editor-in-Chief Vivian Van Dijk was delighted to meet last week with the Vice Minister of Economic Development from Italy, Carlo Calenda, together with the heads of the Italian Trade Agency ICE.

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Italy Unveils 20 Million Euro Special Fashion Plan for the United States

Vivian says, " I am very excited to to hear about the plan to boost Italian fashion across the U.S.A. The craftsmanship and high quality from Italian fashion designers is unique and the US consumer market could greatly benefit from it. In addition to fashion design, Italy is known for their beautiful culinary passion, a craft which Italians have also mastered.

"I very much look forward to seeing this plan develop, as for years we have devoted EYES IN™ Magazine's editorial content to feature many innovative Italian designers who can be a great fit for the American market. It is not only the designs themselves, but also the high quality of fabrics and leather production from the Italians which make them stand out in fashion design."

The Vice Minister of the Economic Development Carlo Calenda, together with the heads of the Italian Trade Agency ICE, with a delegation from Confindustria and the heads of the primary sector Associations, will give a detailed presentation of the Plan chosen by the Minister of Economic Development to promote Italian exports to the U.S. market.

The Special Fashion Plan forecasts a budget of 20 million Euro for the 2015-2016 period, to be implemented in four separate segments:

  • Agreements with the most prestigious U.S. fashion retailers;
  • Promotional fairs and events;
  • Incoming services in Italy;
  • Media promotional campaigns.

The U.S. is the largest consumer market in the world and has a significant youth culture. Of a population of 315 million, 34% are under 25. 2014 saw substantial gains in Italian fashion goods exports (textiles, clothing, footwear, hides and leather goods, cosmetics, eyewear, jewelry): Italian exports to the U.S. totaled 5.2 billion Euro, representing an 11% uptick compared to the previous year. Italy is the third largest exporter to the U.S., after China and Vietnam, and its 4.5% market share growth since 2013 demonstrates a growing bias toward quality goods.

Thanks to increased spending power due to the dollar's advance on the euro, the first four months of 2015 saw even more positive data with a 23.3% growth rate compared to the same period of 2014. Further details demonstrate a 7.36% increase in menswear exports compared to 2013, an exchange value of 477 million Euro. Textiles registered a 15% increase compared to 2013, with an exchange value of 318.5 million Euro. The hides market saw a 13% increase compared to 2013, with an exchange value of 156 million Euro, and an extraordinary 40% jump in the first four months compared to the same period of 2014.

 

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Source: Italian Trade Agency

Images courtesy Vivian Van Dijk

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