Published
December 10, 2025
Carlo Capasa reports a 3% drop in turnover for Italy's textile and clothing industry in 2025, a relatively contained figure given the extremely challenging economic and geopolitical context. The president of CNMI unveiled the next Milan Men's Fashion Week, which will be held in Milan from January 16 to 20, 2026, announcing 76 events in total: 18 physical and seven digital shows, 39 presentations and 12 events.
Italian fashion: exports are maintained in 2025, but 3,000 companies lost in three years
“We expect a decrease in turnover of only 3% for the entire financial year 2025 in the textile and clothing sector, including accessories, because the last few months have been better than the first. Unfortunately, however, we cannot fool ourselves by looking only at the elements that drive the sector, since there are weaknesses and difficulties along the supply chain, as also pointed out by the president of ICE, Matteo Zoppas,” explains Carlo Capasa. “A striking figure is that in 2022 we had 62,000 companies and now we are 59,000. We have lost 3,000 in three years. All together – we, the associations – with the support of the government, which is and continues to be fundamental, we must do everything possible to overcome this phase.”
Exports amount to 87.5 billion euros, a still very high proportion of the total 93 billion euros in turnover. Furthermore, Capasa recalls, in 2023 the domestic consumption deficit was 13,000 million euros; now it's half. “Unfortunately, if salaries have increased little compared to the cost of living, this weighs heavily on domestic consumption,” says the president of the National Chamber of Italian Fashion, adding that “imports have increased because we import much more from China (+11.8%), while exports have decreased because we export much less to China (around -20%).”
The positive note, according to Capasa, is that the US tariffs have been absorbed quite well and, after an initial period of difficulties, trade relations with the United States are improving. Companies do not stand still; many will present their Cruise collections in the United States (Moncler, for example, will be in Aspen) as a sign of their intention to stimulate this key market.
Jewelry and eyewear, which performed well in recent years, have run into headwinds in 2025. In particular, jewelry is down 4.1% in the first nine months, and eyewear is down 2%. “We expect a better result in 2026, since in the last two years we have lost 10,000 million in turnover, a significant loss, also in absolute terms,” Capasa recalled.

In men's fashion, Italy is the second largest exporter in the world after China, with a share of 8%. “Also here, from April to August, after a negative start to the year, exports grew by 5% in all categories. The final result, after the first eight months were flat, is that we are at the same level as last year, so men's clothing, in some aspects, has surpassed women's clothing,” said the executive. Exports to the United States were strong for menswear, outperforming other categories, increasing 9% from January to November.
As for Fashion Week, the communication campaign, created with the City of Milan and Yes Milano, once again highlights new talent and emblematic places in Milan, weaving a narrative that includes collaboration with the Olympic and Paralympic Winter Games Milan Cortina 2026. The place chosen this time is the entrance to a historic building from the 1940s on Via Foppa. The campaign was shot by photographer Alessandro Burzigotti, with styling by Daria Di Gennaro and the support of Stilema Studio for the scenography, and is enriched with objects on loan from the Olympic Museum in Lausanne. The brands involved are Ascend Beyond, Cascinelli, Federico Cina, Gams Note, Meriisi, Moarno, Mordecai, Mtl Studio, Noskra, Setchu and Viapiave33.
Men's MFW January 2026: 9 new shows, 7 presentation debuts
Milan Fashion Week's official men's fashion show calendar will feature Ralph Lauren, Domenico Orefice and Victor Hart for the first time. Meanwhile, the digital show calendar will welcome Absent Findings, Ajabeng, Kente Gentlemen, Raimondi, State of Chaos and Subwae as new additions. Zegna and Dsquared2 return to the catwalk calendar, whose show will be followed by a party.
Regarding the presentation schedule, there will be seven new brands: Bottega Bernard, Dunhill, K-Way, Plās Collective, Moarno, Sagaboi and Stone Island, while Ferragamo returns.

The biggest names in Italian men's fashion are confirmed. This Fashion Week showcases (or presents) notable names such as Brunello Cucinelli, Prada, Giorgio Armani, Corneliani, Tod's, Brioni, Lardini, Kiton, Mordecai and Montecore.
Men's MFW January 2026: anniversaries and events
This edition also celebrates important anniversaries: Blauer will celebrate its 25th anniversary, Pronounce its 10th and Marcello Pipitone–Bonola its 5th. Among the events, EA7 Emporio Armani will celebrate the Milan Cortina 2026 Olympic and Paralympic Games in store. K-Way, together with Vogue and GQ, will present 'Montagna Milano: The Alpine Club in Town'. The event, open to the public, will take place over three days and will include panels, workshops and après-ski experiences.
Li-Ning will then celebrate the brand's movement, culture and evolution in sportswear with a runway presentation of its Fall-Winter 2026/27 collections for men and women. Stone Island will present 'Prototype Research_Series 09, Air Blown Lamination On Knit' through an installation by Ken-Tonio Yamamoto featuring garments born from non-industrial research and experimentation processes.
Finally, for this edition, the Fondazione Sozzani will serve as the CNMI space during Men's Fashion Week, with the aim of supporting and promoting the new generation of designers. Domenico Orefice and Simon Cracker will perform there, while the labels Bottega Bernard, Maragno, Marcello Pipitone–Bonola, Moarno, Mtl Studio, Pecoranera and Sagaboi will be present with a showcase.

“It will be a vibrant space where many things will happen; it will be a pleasure to spend time there, because it is a special environment,” said Carlo Capasa about the location chosen by CNMI at the Fondazione Sozzani. “In this edition, the international streaming of the Milan Fashion Week collection will also be guaranteed,” he added. “The event will be broadcast on the Milan Fashion Week platform, which will also host a section dedicated to virtual showrooms, both multi-brand and single-brand. This is an important point, because we must always remember that Milan has the most important fair in the world, which is the showroom fair of the entire city: 800 showrooms with 3,000 brands, open seven months a year, showing and selling the visions of many designers to the world.”
A Fashion Week intertwined with the Milan Cortina 2026 Olympic Games
“Like every Fashion Week, Milan becomes an international crossroads of meetings, contacts and relationships that constitute that valuable heritage that sustains creativity, know-how and innovation recognized throughout the world. A Men's Fashion Week with events and places that will surely make it rich and interesting and that will herald a moment that we hope will be fruitful for Milan and for fashion as a whole: the Olympic Games. A union that already begins with the advertising campaign,” recalled Alessia Cappello, Minister of Economic Development and Responsible Labor Policy for Commerce, Fashion and Design, in his speech.
“The economic impact that the event will generate is not yet known precisely. Our research center believes that the combination with the Winter Olympic Games will bring even more visitors and tourists to Milan, that is, people who will be interested not only in fashion but also, and above all, in sports,” Cappello continued. “It will be a relay: the Milan Men's Fashion Week in January, the Olympic Games in February, the women's fashion week located between the end of the Games and the beginning of the Paralympic Games. Normally the economic impact is around 80 million euros during the Men's Fashion Weeks and 100 million during the Women's Fashion Weeks, but we believe that this time it will be even greater. I also want to mention the very important synergy with Florence, with which there is a solid and fruitful relationship. Because men's fashion week begins in Florence and ends in Milan,” concluded Alessia Cappello.
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