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Italy invests 20 million euro in fashion plan for US

By Sara Ehlers

30 Jul 2015

Fashion

Apparently, Italy had has its eye on America for a while. The country recently unveiled a new 20 million euro fashion plan that involves the US.

The “special fashion plan” was announced by Carlo Calenda, Italian deputy minister for economic development. At the Jacob K. Javits Convention Center in Manhattan last Monday, the NY Times reports that he announced Italy’s 21.7 million dollar investment in the plan. The idea is that the collaborations will consist of retailers that will market and promote the “made in Italy” design aspect. There will be a focus on Italian leather and trade fairs that highlight Italian designers. The special plan brings in new media initiatives that will help propel Italian fashion in the U.S. The plan seeks to stick to its budget by implementing four major categories: agreements with elite US fashion retailers, incoming services from Italy, media campaigns, and promotional fairs and marketing events.

The presentation that was revealed at the Convention center made convincing points as to why the “special plan” should work prosperously. The presentation stated that Italy is the third-largest exporter to the US (following closely behind China and Vietnam). The US is the largest consumer market in the world with a popular of 315 million. In 2014, the Italian exports to the US totaled 5.2 billion euro, the NY Times reported.

The main idea is to bring in Italian exports and capitalize on them in the US market. Due to high-quality production and luxurious materials used in manufacturing, Italian goods are a commodity in the US Only time will tell if this “special fashion plan” will prove to be successful in next immediate year.

Italy