Milan Fashion Week kicked off Tuesday, but the flair and fanfare on catwalks will likely struggle to distract from a worrying slump in the luxury sector.
For six days, the northern Italian capital of fashion will showcase Autumn/Winter 2025-2026 women’s looks — while scrambling behind the scenes to react to macroeconomic headwinds cutting into sales.
Milan’s glamorous showcase for the latest fashion trends, which ends Sunday, comes during a difficult moment for Italian fashion, with estimates showing sales having fallen by 5 percent last year.
Italy’s woes are part of a global slump in the sector, driven by weakness in the key market of China, reduced appetite for high-priced goods, and widespread economic uncertainty.
Gucci — once the pride of fashion week but now the worst performer in Kering‘s portfolio — opened the fashion fest in Milan.
The French group earlier this month announced a jaw-dropping 23 percent drop in sales at Gucci, its flagship brand accounting for almost half of the revenue of the group, whose sales have not recovered despite an announced turnaround.
Just over two weeks before the show, Gucci announced the departure of its creative director, Sabato de Sarno — after just two years on the job.
It was up to the brand’s creative studio to sign off on an interim collection entitled “Continuum”, which drew on elements of the brand’s heritage, such as silhouettes from the 60s or minimalism from the 90s.
Fabrics were both classic and subversive, while the colour palette ranged from shades of green to gray, mauve and brown.
Instead of the traditional designer’s bow at the end of the show, dozens of people from the design studio came out to greet the audience.
“A brand is not a person, a brand is a story and it is the people who work there at all levels, that’s what we saw today,” Francesca Bellettini, deputy chief executive of Kering, told AFP.
Kering Chief Executive Francois-Henri Pinault tried to temper the fallout ahead of the show, telling analysts during its annual presentation this month that measures were being taken to “strengthen the health and desirability of our brands for the long term.”
“Gucci will come back. I have absolutely no doubt,” Pinault said.
The net profit of Kering — which also owns Saint Laurent and Bottega Veneta, the latter a bright spot in the portfolio — plunged 62 percent last year to 1.13 billion euros ($1.18 billion).
Consultants Bain & Company have estimated that only about a third of the world’s luxury brands experienced growth in 2024.
“Global luxury consumers, grappling with macroeconomic uncertainty and continued price elevation by brands, cut back slightly on discretionary items,” said Bain in a January report.
In Italy, the fashion sector, including eyewear, jewellery, and beauty, is expected to post turnover of just under 96 billion euros in 2024, a drop of 5.3 percent compared to 2023, according to forecasts by Italian Fashion Chamber.
The body’s president, Carlo Capasa, said earlier this month that the week of shows, buying, and networking demonstrated the sector’s willingness “to address the complexity of the moment the sector is facing.”
“Creativity, pragmatism, and flexibility,” will help the sector confront “such a challenging moment,” he told a press conference, with efforts needed to boost innovation and strengthen Italy’s supply chain.
He said the chamber would lobby the government for “support policies” for the sector.
The Italian leather and footwear sector is faring worse than fashion, with estimates from trade association Confindustria showing an anticipated revenue drop of 8.1 percent in 2024.
In Tuscany, the hub of Italy’s leather industry, nearly 100,000 people are estimated to be on furlough.
The Italian government has put aside about 110 million euros to boost the fashion sector this year and last.
But that hasn’t been able to pull some factories back from the brink of closure.
Swiss brand Bally – whose runway show is scheduled for Saturday — announced in December it would shut its production facility near Florence which employs 55 workers.
Negotiations with trade unions are ongoing to avert the closure.
Some brands are celebrating big anniversaries this year in Milan, notably Fendi‘s 100th birthday with a co-ed catwalk show under the interim creative direction of Silvia Venturini Fendi.
DSquared celebrates its 30th birthday while Kway celebrates 60 years since it was established in Paris in 1965.
Bottega Veneta will be absent, having postponed its first show under new artistic director Louise Trotter to September, after previous director Matthieu Blazy left for Chanel in December.
Salewa has named Nol Gerritse as its new brand director, effective May 2. The announcement was made by the Oberalp Group, the owner of the brand specializing in mountain sports equipment.
Nol Gerritse
Gerritse, a Dutch native and U.S. citizen, has held senior positions at multinational companies, including Havaianas, Lululemon, Keen, Colgate, and Nike.
“Joining Salewa and the Oberalp Group represents an incredible opportunity for me to be part of a brand that is iconic in mountain culture and a leader in innovation,” Gerritse said. “I look forward to contributing to and shaping the new chapter of Salewa, celebrating its tradition while exploring new frontiers in design and performance.”.
“In Nol Gerritse, we have found a leader whose international experience across various industries will allow him to successfully develop our historic Salewa brand,” said Ruth Oberrauch, vice president of the Oberalp Group. “His global expertise and passion for the mountains align perfectly with Salewa and Oberalp’s philosophy, making him a key figure in our growth strategy.”
Founded 90 years ago in Munich, Salewa has grown into a brand generating €120 million in revenue. The company was acquired in 1990 by the Oberalp Group, which employs more than 1,200 people and owns brands such as Dynafit, Pomoca, Wild Country, Evolv, and Lamun.
Iceberg opened Milan Fashion Week in signature style. The fashion brand, produced by Gilmar and celebrating its 50th anniversary, infused its Fall-Winter 2025/26 collection with a blend of Italian attitude, English heritage, and Irish knitwear expertise. Once again, British designer James Long took the creative helm, delivering a collection that balances tradition with contemporary edge.
“The heart of Iceberg is in the knitwear, and it is in mine as well. I consider this season’s collection to be quite cozy—comfortable yet always ultra-desirable. I wanted to celebrate the knitting, techniques, and treatments we love, blending them with tailoring that plays between tradition and subversion, in a dynamic, sporty dimension that is always in motion,” creative director James Long told FashionNetwork.com. “I focused heavily on the shapes of the garments. Laces structure the pieces, while knitwear techniques are pushed beyond their limits to express a strong point of view. Iceberg’s positive energy is embedded in these smart, metropolitan looks. My guiding principle was ‘freedom’—in textures, in the use of colors, and in a mix of smart constructions with a balance of softness, femininity, and draped fabrics, because I also love tailoring.”
“This is an extremely complex and uncertain time, and the challenge for both creative direction and company leadership is to find the right path when everything feels so complicated,” said Paolo Gerani, CEO of Gilmar, speaking backstage at the défilé. “The state of fashion is intricate—you can’t sum it up in just a few words. Some markets are more fluid and spontaneous, but at the same time, there is a shift in the globalized approach, which is changing the way fashion operates. There seems to be a growing detachment, not just due to general uncertainty but also because of a shift in consumer attitudes. Shoppers are now far less drawn to what was once considered ‘fashionable.’ Today, they seek more democratic, affordable pieces and are no longer chasing constant, frantic change.”
“In our industry, there are so many variables to consider. At Gilmar, we strive to stay true to ourselves and always deliver high quality, embracing a democratic Made in Italy approach, even in terms of pricing,” Gerani continued, though he acknowledged the ongoing challenges in the sector. “Some brands are thriving, but the core of the business is struggling. The outlook is complex, and I don’t have a clear vision of what lies ahead. I can’t predict when this period of uncertainty will pass—I can only hope that the wars and the resulting economic and financial tensions will come to an end. Beyond that, I believe greater attention must be given to employees and workers, who now have very little spending power. Reviving the economy will be extremely difficult.”
Returning to the collection, a ribbed gray sweater stands out with its wide sailor collar, paired with tailored, masculine-cut pants cinched at the waist with a mock-croc belt. The ribbed knit dresses feature an open collar, a dropped waist, and a pleated skirt with fluid movement, layered over a check poplin miniskirt with ruffles for a playful contrast of textures and lightness.
Check tailoring achieves a balance between softness and structure, with a collar finished in faux leather for added character. A tuxedo shirt with ruffles is so delicate it verges on transparency. A masculine double-breasted check suit is layered under a lace-up poplin coat, finished with raw edges to subvert classic tailoring conventions. The color palette explores three key shades: variations of blue, pinkish gray, and tweed mustard.
Since its inception, Iceberg has made knitwear experimentation its signature. This season, it takes form in navy maxi stripes on an oversized ribbed sweater, accented with wool panels on the shoulders for contrast and a sporty touch. The high collar rises snugly, lined with faux shearling for added warmth. Meanwhile, oversized inlaid wool plaid coats are structured with faux leather details and profiled edges, paired with knee-length poplin skirts featuring soft ruffles and metallic eyelets.
The collection also introduces a wool city coat seamlessly sewn onto plaid poplin fabric, as well as a faux leather jacket with a cracked effect that reveals color as it creases. Cardigans take on a sculptural quality through bonding techniques, styled effortlessly with soft jeans and sneakers. Tailored pants complete the lineup, offered in low-waisted, beltless designs with inverted pleats finished in satin or faux leather piping along the seams.
Closing the show were two oversized cardigan coats, so wide they featured an integrated scarf that skimmed the floor, almost like a wedding dress.
Accessories stood out, including mock-croc sandals with triple buckles and a medium heel, as well as flat boots with a minimalist design. Belts in crocodile print ran throughout the collection, while maxi bags in faux crocodile leather offered versatility from day to night.
Hugo Boss’s Hugo label has unveiled a major platform dubbed Hugo Forward, highlighting its innovative, technology-driven approach to design.
The pieces it creates “will chart a path of transformational exploration, with the mantra: ‘You’ve got to keep moving to stay ahead of the game’.”
Its first drop arrives for SS25 and includes three tailored styles created with plant-based HeiQ AeoniQ, “a groundbreaking cellulose yarn made from wood pulp that rivals the performance properties of polyester”.
The brand is offering a modular group of menswear suit separates, including a single-breasted blazer, casual jacket, and trousers, all in black, with the HeiQ AeoniQ and wool-blend pieces able to be worn “matched or clashed, smart or casual”.
And “further cementing Hugo’s status as a tailoring pioneer, these are the first-ever suiting separates crafted with this fibre to go to market”.
The company has launched an accompanying campaign and is also building excitement around the launch on social media, collaborating with content creators “who embody adaptability and authentic personal style”.
Offline, an interactive hologram will tell the story of the campaign in the window of Hugo’s Milan store, with a “moving, talking holographic depiction” of campaign star Jean Carlo León wearing key looks.
Globally, eye-catching window and in-store merchandising will “push the brand’s authentic, self-expressive approach to tailored dressing”.
The campaign was photographed by Dan Jackson under the creative direction of Trey Laird and his agency, Team Laird, with the focus on “flexible, infinitely adaptable suiting”.
This full-year campaign will unfold in two chapters, the first for spring/summer and the second for autumn/winter.
In Chapter 1, Hugo “captures a youthful maverick as he navigates a series of red rooms. The styling of his sharply cut suit evolves from classic and timeless, to offbeat and inspired, combined with a snug tank top, a chunky leather boot, a boldly printed short-sleeved shirt, and tailored shorts”.
His looks are inspired by the concept of “The Go Suit: a new, very Hugo approach to building a go-to tailored wardrobe for every aesthetic and occasion”.
Meanwhile in womenswear, “we meet a heroine in a sleek white three-piece suit in the red rooms. The camera zooms in on the details: a bold belt, a strappy heel, the cropped cut of a vest, highlighting the adaptability of Hugo’s tailoring for all genders, and celebrating the individuality of the person inside the suit”.