The pandemic was not enough, now it is the war that undermines the global economy linked to the world of fashion and luxury

Stop the war immediately

2022 has just begun as Milan Fashion Week F/W 22-23 has just begun. At the start of this edition, the air that was breathed among all the operators in the sector was full of optimism, a desire for rebirth, recovery and confidence in the future. The dreams of an entire sector that occupies an important place in the Italian and global economy have been shattered by the unpleasant sound of the Kiev sirens announcing the start of the military invasion of Russia. President Putin chose to invade Ukraine just when the fear of pandemic proliferation finally seemed to return to more manageable numbers and a light could be glimpsed outside a tunnel that the whole world has been going through for two years. But no. There is war, and it is in Europe. At Fashion Week there is now an uncertain air, there is disorientation and despair in all the insiders, big brands, models, influencers, the public, everyone is trying, each through their own languages, to express solidarity with the Ukrainian people and to promote messages of cessation of hostilities. Certainly not enough. Hopefully, the harsh sanctions that the US and the EU will apply to Russia will somehow be enough. We’ll see. Meanwhile, fashion is shaking for ukraine. The problem is that these sanctions will unfortunately have repercussions on the entire global market and the fashion and luxury sectors are certainly not excluded, quite the contrary. Carlo Capasa president of the National Chamber of Italian Fashion says: “we are sad and dismayed for Ukraine. Fashion must promote unity between people… what pains me most is the human aspect. For the business we are worried because this will lead to problems in direct export relations, an increase in energy costs and an imbalance of the economic system ». The consequences of the conflict are expected to be drastic. The first stock market crashes of big names speak for themselves: Lvmh at -3.32%, Kering -4.59% and Hermès at -2.3%, Richemont (-5.02%), Inditex (-3.05% ), Tod’s (-5.41%) and Moncler (-4.28%). Capasa continues: «Unfortunately I reiterate how this is the result of human foolishness. As a fashion system we continue to emphasize and we will continue to reiterate that we need to recover the values ​​to think of a better world ». There is a lot to hope for and we at Michele Franzese Moda hope that everything will soon be over without further victims.