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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 ...
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 ...
Disadvantaged Stories as Inheritance
The scenario Poverty in Italy today remains at historic highs, in continuity with the year of the pandemic that in just twelve months increased the number of poor people by one million (Figure 1). It is a phenomenon that can now be considered structural in our country, as it affects 9.4 percent of the population; almost one resident out of ten lives in a condition of absolute poverty. If we consider ...
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). ...
The Entirely Italian “Poverty Regime”
Premise: how do we measure poverty? What poverty is and how it can be measured is the subject of many theoretical and methodological debates that do not provide, nor could they provide, a single answer. It is not just a matter of choosing between a multidimensional or a unidimensional conception of poverty, and therefore which indicators to use (only economic or also human and social capital, ...
Educational Poverty Requires Strong Choices
Recent research by Save the Children, according to OECD analysis, reports two closely related and worrying facts: the first highlights that Italy's investment in education, instruction, and poverty protection for families is among the lowest in Europe; the second shows that in our country, absolute poverty, correlated with educational poverty, has increased by ten percentage points in ten years.[1] ...
Youth and Work: A Crucial Issue
Why talk about youth and poverty today? Because in our country, young people, even when employed, are increasingly exposed to this risk: according to the latest ISTAT data, referring to 2021, the incidence of absolute poverty is 14.2 percent for minors, 11.1 percent for young people between eighteen and thirty-four years old, 9.1 percent for adults between thirty-five and sixty-four years old, and ...
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 ...
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 ...
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 ...