Milan's Luxury Shopping Blues

by Deidre Woollard (RSS feed)
Dec 26th 2008 at 5:02PM

The economic crisis has reached the streets of Milan where the AFP reports that sales in the posh shopping area surrounding Montenapoleone street are way down. The Italian shops are discounting merchandising, launching more affordable lines and scaling back new store openings. Even at Prada, discounts are up to 40 percent. Part of the problem is that Russian buyers have cut off their orders for Italian goods. Knitwear maker Lineapiu sought bankruptcy protection early this month and other companies are seeking new deals and investors to help them stay afloat in the changing world of Italian luxury.

Tags: fashion, italy, luxury, milan, prada

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Reader Comments (Page 1 of 1)

Bill Dec 27th 2008 8:46PM

Well, seeing as how prices for Italian fashion have been inflated for several years now, I feel that it's about time that these big fashion houses have some pressure put on them, if they wish to remain competitive businesses. So, this shakeout, driven by the recession, can only be good for consumers in the end.

The "Made in Italy" label no longer carries the prestige that it once did anyway.

Inny Dec 27th 2008 10:17AM

Prices ...in stores...have ALWAYS been INFLATED, Everywhere in the World. If you see "ANY" sweater ... selling for $300.00...the stores buyer bought it... from the manufacturer... for $25.00. Knowledge is power... keep your money in your pocket. Don't be chumps. Your overpriced sweater has paid for their very pretty stores.

Inny Dec 28th 2008 10:46AM

Italians always have and always will make quality products. They LIVE for quality. But who wants to spend... so much... more than something is really worth?

Jan. and July are super discount months in Italy .

Made in Italy will no longer carry any prestige.. Stupida.

Bill Dec 29th 2008 2:35PM

Inny, I work in fashion. Therefore, I know excellent quality when I examine a garment. And, I can tell you from experience that the Italian produced garments are no better, or worse, than garments produced in another country.

I'm aware that the Italian fashion industry likes to market itself as the "ultimate" in style and quality. However, just like everything else in the industry, it's all hyperbole.

Oh, yeah. Here's my response to your insult: *Middle finger* ;)