Armani’s “great revival” and a growing Prada – Amid the financial markets and the front-page news (especially the earthquake in Emilia-Romagna), the positive notes of Italy’s image in the foreign press this week came from the world of fashion. There were a few articles on the latest collections (although some newspapers, like Le Figaro, ran pieces of the 15th birthday of the Fendi baguette purse (May 25 Fendi fête les 15 ans de succès de son sac), and several on the business side of fashion. Attention focused on Armani and its “great revival”: the Milan-based fashion house closed 2011 with profits up by 23%. Major papers mixed reports on the designer’s balance sheet (May 24, Financial Times – Armani’s profits look the part* and Le Figaro – Le grand retour en forme de Giorgio Armani), with commentary on strategies for the future (Wall Street Journal, May 23 – The Future of Armani). Another Milanese fashion house is growing on international markets: according to the South China Morning Post, Prada has escaped the effects of the financial crisis thanks to its presence on the Chinese market (May 23 – China helps Prada weather storm*). And Bloomberg reported that the firm will open 260 new stores over the next three years as it continues to develop in emerging markets (May 24 – Prada to Add 260 Shops in 3 Years on Demand From BRICs).
Fiat targets Asia – Another famous name in Italian manufacturing was in the spotlight. Turin’s own Fiat is planning an “offence in India” and the Wall Street Journal explains the carmaker’s plans to expand (May 22 – Fiat Plans India Automobile Offensive). The foreign press also examined the agreement between the Japanese manufacturer and Alfa Romeo to produce a roadster that would pave the way for the return of the famous Duetto on the American market (May 24, Les Echos, – Fiat vient à la rescousse de Mazda en nouant une alliance dans les coupés sportifs; Wall Street Journal – Will Linking Up With Fiat Help Mazda?; May 23, Bloomberg – Fiat Plans to Develop Alfa Romeo Spider in Mazda Venture).
Monti’s words and recollections of Falcone – News about important figures on the Italian scene once again included articles on Prime Minister Mario Monti and his proposals for economic growth. After an interview with CNN (May 19 – Mario Monti, “Eu improved from Greece”), Bloomberg reported on his hopes for the Eurobond (May 25 – Monti Says Germany Can Be Persuaded on Euro Bonds). And in an editorial, Le Monde underlined that only close cooperation between Palazzo Chigi and Palais de l’Élysée can bring growth back to Europe (May 23 – Seul un axe Paris-Rome peut faire bouger Angela Merkel). Finally, the Argentinean Clarin ran a long profile of anti-Mafia judge Giovanni Falcone on the 20th anniversary of his assassination.
* marked articles viewable online upon payment or registration