THE ITALIAN FASHION INDUSTRY GROWS

Fueled by a weaker euro compared to the dollar, a report issued by the Camera Nazionale della Moda Italiana says the Italian fashion industry is expected to post a 5.5 percent increase in revenues in 2015 for a total of 64.5 billion euros. Exports are poised to grow 7.1 percent to 50.2 billion euros in 2015, spearheaded by a bullish performance of apparel and footwear. In 2014, France ranked number one on the list of foreign countries purchasing Italian fashion and accessories, followed by Germany, Switzerland and the U.S. The study also underlines how China continues to grow, increasingly appreciating Made in Italy labels. Still on a rosy note, the study forecasts a 6.5 percent increase in revenues in the first half of 2016.