Signs of economic recovery – The English language Chinese daily, Global Times, cited economist Marco Fortis as saying that the bases Italy’s economy is more solid than is commonly believed. In an interview with the foreign press, the economist explained the strong point of the Italian production system (January 17 –Italy’s economy more solid than it looks: expert).
And actually, foreign investors are showing signs of confidence in Italy. A first indication was the positive trend in the recent debt auctions, which, explained Bloomberg, benefited from the new demand from emerging markets (January 28 –Italy Pays Record Low to Sell Zero-Coupon Notes at Auction).
Private equity investors are also eyeing the Italian market. For example, the famous American group KKR recently made its first direct foreign investment in Italy, venturing 100 million euro on the growth of Argenta, a vending machine company (January 21 in the Financial Times – KKR steps in with €100m for Italian coffee vending group and Bloomberg – KKR Finances Gruppo Argenta in Its First Italian Direct Lending).
Eports of fashion and other luxury items – While on one hand, the number of investors in Italy is increasing, the success of made in Italy groups abroad holds strong. Brunello Cucinelli, for example, has a growing turnover in China (Wall Street Journal, January 16 – Brunello Cucinelli Revenue Boosted by Strong Sales in China *) and is planning new collections for further growth in the promising menswear market (Financial Times, January 19 – King of cashmere Cucinelli finds trend for menswear is right fit).
Thanks to China – particularly Chinese tourists shopping abroad – Ferragamo is also seeing rising sales (Global Times, January 17 – Chinese shoppers race abroad to boost Ferragamo’s 2014 sales). Another fashion house very active in Asia, Prada, is also selling more, although its spring collection looks more to the colors of Mexico (Handelsblatt, January 19 – Prada macht Kunst tragbar)
And while fashion is still one of the strong points of Made in Italy’s international market (so much so that the Milan Chamber of Fashion chose British Jane Rive as its CEO – reported by Die Welt on January 30 Mailand will wieder Modezentrum werden), Italian luxury items will increasingly become a strong point in the automotive industry. The new strategy of Fiat, which recently merged with Chrysler, is based on production in Italy of a premium car to be sold worldwide (Financial Times, January 30 – Fiat builds Italian future on delivering premium export cars).
The decision to produce high-end goods has also been rewarding for Cassina. According to Les Echos, the furniture design company is signing agreements with fashion brands to reproduce important pieces that made history in the field on interior design (January 24 – Cassina explore la piste culturelle)
From the Dolomites to Naples: tourism in Italy – Last week the foreign press focused a great deal of its attention on tourist destinations. Travel ideas covered a variety of tastes and prices and ranged from advice on buying a vacation home in the Bel Paese (The Times, January 30 – A home in the hills – the Italian way*) to the attractions of Milan (Washington Post, January 23 – 5 free things in Milan from cathedral to canals). The Times also ran an article on the fashion capital, which, according to the paper, also has a brain and a heart, as well as many things to see and do (January 23 – Instant Escapes: Milan beyond the catwalk). Die Zeit travelled a little further, to the region around Bergamo, to pay tribute to the Convent of San Giovanni, founded by Charles the Great (January 23 – Lasst toben nur und stürmen).
Ski lovers had the pleasure of reading the Financial Times suggestion of a tour of the Dolomites (January 17 – Ski touring in the Italian Dolomites ), and those who prefer a warmer climate were given advice for a weekend in Naples (The Times, January 18 – A weekend in… Naples, Italy*).
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