Miu Miu and Giorgio Armani

Giorgio Armani: His concerns seem justified. Milans importance could be slipping. And despite a clutch of well-received collections Prada, a strong and vibrant Versace, Bottega Venetas intriguing wrapping and layering last week was a far cry from a past when Milan head-butted Paris for the dominant position in international fashion and, at one point, appeared to be winning , according to The Independent. The reflection of that in high fashion isnt just a certain timidity and uncertainty of design. The Prada group, which also operates Miu Miu, Churchs and Car Shoe, and presented its mainline range on Thursday evening, posted a drop in net profits of 20.6 per cent in the first half of the year. Patrizio Bertelli, its chief executive, stated that the difficult economic and geopolitical conditions are negatively influencing consumers attitudes . Listed on the Hong Kong stock exchange since 2011, the companys shares fell 1.3 per cent to their lowest level in more than two years and This season, the main shows are across five days rather than six, after a number of influential editors Anna Wintour of American Vogue being the most important didnt stay for Mondays shows last season. The major show that day is traditionally Giorgio Armani, a heavyweight anchor to moor press and buyers in the city while other, lighter labels flounder. But this season Armani moved his show to Saturday, despite a press conference after his autumn/winter 2014 show in February when he lambasted both the American Vogue editor-in-chief and his Italian counterparts. There are some who prefer to snub the Giorgio Armani show and go to Paris, he said. When we decided to show the last day, other big brands were involved. But currently this is an empty day Does this mean protecting Italian fashion? Some of the problems with Italian fashion today are part and parcel of wider issues. This year, Italy is experiencing its third financial downturn since 2008, according to the Organisation for Economic Cooperation and Development. The economy, the third largest in the eurozone, has shrunk by 0.4 per cent in 2014 and while the revenue of the fashion industry bucked the trend to grow 3 per cent, according to information released earlier this month by the Camera Nazionale della Moda Italiana which organises and promotes the countrys fashion industry , it is well below a great leap originally estimated. (news.financializer.com). As reported in the news.