Italy, economic growth of Italian fashion is back at the big door. Italy experienced a brilliant international moment last year. Recently designated ‘Country of the Year’ by the Economist, it has had a faster economic recovery than most neighboring countries, supported in part by a rapid return in demand for its products overseas, where consumers particularly appreciate ‘Made in Italy’. Italian luxury brand continue to contribute to the value growth of the Top 30 ranking, with eight brands representing 44% (equivalent to $57.2 billion) of the total brand value.
Luxury brands generate the largest growth in absolute value year-over-year (over $9 billion), with Bulgari, Fendi and Prada all recording significant growth in brand value over the past year.
Fendi‘s value new the most, by 47% (to $4.7 billion), supported by the revival of iconic and vintage items and by the Fendace collection, collaboration between Fendi and Versace. Bulgari, Fendi and Prada have experienced significant growth in brand equity over the past year.
Gucci maintained, for the fourth consecutive year, its first position in the ranking as the most valuable Italian brand, with a brand value of 37.9 billion dollars. After 100 years of activity, Gucci defines its uniqueness thanks to the new highly creative collections and the premium brand experience on all channels, with a particular focus on digital.
Versace is the newcomer this year. Its glamorous positioning, bolstered by some of the world’s biggest celebrities sporting Versace apparel, and Donatella Versace’s bold and fearless design vision helped drive global revenue growth of 81% in first semester 2021.
Despite the growth of the brands, Federico Capeci – Managing Director of Kantar Italy, Greece and Israel – invites Italian brands not to forget the role that communication plays in keeping them strong and prestigious.
Source: Kantar
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