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Magazine article (E&M - 2023/2) Nicotra Veronica

The Challenge for Towns and Cities is to Invest in Real Projects

Reforms and resources guided by targets and milestones set a new model and framework for work, which in my opinion, is very positive. If applied carefully, they could bring about the necessary change in the spending capacity of Italy's system, in terms of both quality and quantity, for its growth. I believe this is the most significant and defining element of the National Recovery and Resilience ...

Magazine article (E&M - 2023/3) Fattore Giovanni

Towards Big Government. The Key Role of a Large Public Administration

The serious pandemic crisis, the desire to decisively combat climate change, and the war between Ukraine and Russia have accelerated a long-term general trend: the expansion of the role of public institutions, in terms of activities carried out and resources absorbed. For various reasons, many countries seem to be moving towards Bigger Governments! In this context, many "classical" liberals, ...

Magazine article (E&M - 2023/3) Calefato Patrizia

Luxury Experience as a Modus Vivendi

On April 11, 2020, upon reopening in China after the first Covid-era lockdown, the Hermès Taikoo Hui store in Guangzhou generated $ 2.7 million in sales in a single day. This result was largely due to the sale of rare items, among which, in particular, a diamond-studded Himalayan Birkin bag.[1] This news is highly emblematic in representing the transformations, new configurations, and at the same ...

Magazine article (E&M - 2023/3) Baro Jessica, Dallocchio Maurizio, Etro Leonardo

Global Players are Shopping for Smaller Businesses

The analysis of key factors influencing the evolution of the luxury sector will focus on the unique characteristics of the described market. This sector is distinguished by its resilience, driven by the exclusive and distinctive nature of its products, customer loyalty, and the global presence of luxury brands (McKinsey & Company, 2020). Value and Key Trends in the Luxury Goods Market The luxury ...

Magazine article (E&M - 2023/3) D’Arpizio Claudia, Levato Federica

A Growing Market Despite Uncertainties

The personal luxury goods segment, in particular, recorded an acceleration this year, following the rebound achieved in 2021. Supported by strong market performance in all quarters and despite worsening macroeconomic indicators globally and challenges in China, the personal luxury sector is set to reach a value of 353 billion euros in 2022, marking a 22% acceleration at current exchange rates (or ...

Magazine article (E&M - 2023/2) Lenzi Antonio

Rethinking Italy’s Citizens’ Income

Let's take a moment to think: from 2019 to today, beyond the pandemic which has recently ceased to be a topic of discussion, and the war which has undoubtedly conquered the pages of newspapers, albeit intermittently, what has been one of the most debated topics in our country, continually present in national and local press? There is no doubt that the first place goes to the Citizens’ Income (RdC). ...

Magazine article (E&M - 2023/2) Cortese Caterina

More Light in the World of the Homeless

Giorgio’s story Giorgio recently turned sixty. He is Italian and has had a precarious job for years. "I have always worked," he tells us when we meet him, "but you know how it is... sometimes as a freelancer, sometimes under the table, other times with a real contract... it depended on the circumstances and what I had to do." Time has passed quickly and now Giorgio finds himself in a ...

Magazine article (E&M - 2023/3) Carraro Stefania, Misani Nicola

Discretion and Refinement at the Core of Quiet Luxury

Iconic brands such as Brunello Cucinelli and Loro Piana stand as champions of quiet luxury. While a “GG” Gucci belt buckle or a Christian Dior logo tote bag loudly assert their luxury status, the quiet luxury items, such as neutral-toned cashmere sweaters, silk button-down shirts, and wool overcoats, require discerning observers. The value of these pieces lies in expensive materials and expert ...

Magazine article (E&M - 2023/3) Lojacono Gabriella

Excellence Becomes a Group: the Case of Florence

When we talk about the luxury market, we celebrate the brilliant sales results of the last two years and the amazing performance of some brands that are protagonists, using indicators ranging from turnover, to profitability, to the growth of direct stores, to brand equity, and the performance on the capital market. The latest report by Deloitte (Global Power of Luxury Goods 2022)[1] shows a varied ...

Magazine article (E&M - 2023/3) Kim Sowon, Girardin Florent, Fuchs Matthias

Luxury Hospitality: Challenges, Trends, and Good Practices

The luxury market is undergoing a significant shift, as the upcoming generations of consumers are expected to dominate the market in the future. Generations Y and Z, born between 1981 and 2012, are set to represent 80% of the global personal luxury goods market by 2030 (Bain & Company, 2023). These young consumers have a different approach to luxury than older generations. They value meaningful luxury ...