On October 21 and 22, the Luxury Bocconi Student Society had the privilege of attending the Milan Fashion Global Summit – “The Luxury Arena”, hosted by MF Fashion and Gentleman at Fondazione Catella.
This year’s edition focused on the future of luxury through the lenses of tariffs, artificial intelligence, new trends, and the intersection between craftsmanship and innovation. Over two days, top leaders and creative visionaries gathered to share their perspectives on the evolving dynamics shaping fashion, beauty, and lifestyle.
Day One — A System in Transition: From Recovery to Reinvention
The opening session, led by Carlo Capasa, President of the Camera Nazionale della Moda Italiana, set the tone for the Summit. Capasa described the fashion industry as having “reached rock bottom” but now entering a phase of recovery and creative rebirth. He praised the success of the most recent Milan Fashion Week, highlighting its renewed creative force, and called for Italy to follow France’s lead in regulating influencer marketing — especially regarding the promotion of super fast fashion. Capasa’s message was clear: the sector must embrace ethical and sustainable growth while celebrating its artistic roots.
Luca De Meo, CEO of the Renault Group, followed with an engaging reflection on his company’s partnership with L’Oréal. He explained that the collaboration was a “natural extension” of a long-standing relationship, aiming to expand into the beauty and wellness sectors — categories he described as more stable and less cyclical than traditional fashion. Drawing from his experience in the automotive industry, De Meo spoke about turnaround management and how process efficiency, logistics, and financial discipline can successfully coexist with creativity, creating resilience in luxury business models.
Alfonso Dolce, CEO of Dolce & Gabbana, explored how consistency and integrity have been key in the brand’s global expansion. He shared that products launched three years ago in Italy are now entering the Chinese market, a testament to the brand’s patient and strategic international growth. Dolce also addressed the slowdown in summer tourism but remained focused on the long term: his wish for the next forty years, he said, is “to continue writing something meaningful in the history of beauty and craftsmanship.” He concluded with a reminder that “without heart, life cannot be a dolce vita.”
In a concise but impactful contribution, Michele Norsa discussed how tariffs have affected luxury categories differently. While products such as yachts and supercars have remained resilient, others — especially those facing strong local competitors — have felt the impact more significantly. His remarks underlined the importance of market positioning and diversification in uncertain global contexts.
Alessandro Sartori, Art Director Zegna Group centered his talk on the evolving philosophy of luxury. He emphasized the importance of one-to-one relationships and slowness in both production and customer experience. For Zegna, today’s sales associates are no longer mere vendors — they are stylists who curate personalized experiences. He also reflected on the new global luxury hubs, such as Dubai, where different cultures merge to create fresh expressions of prestige. For Zegna, a fashion show only gains meaning when its experience extends beyond the runway, connecting heritage and modernity in a seamless narrative.
The discussion then turned to technology and e-commerce with Zalando. The company showcased how AI-driven solutions can transform the shopping experience, particularly for Gen Z consumers. Over 70% of young people begin their purchasing journey online, yet their intent is often difficult to translate into a simple search. To bridge this gap, Zalando has launched the Zalando Assistant, an AI tool that helps users find products that fit their preferences, alongside new Boards that allow them to save and share curated looks. The message was optimistic: Italians show a positive attitude toward AI, and the future of fashion will depend on a harmonious coexistence between technology and creativity.
The final contribution of Day One came from Valentina Corbetta, representing Veepee. She drew attention to the unique dynamics of the beauty segment, where consumers often have a clear idea of both brand and product from the start. Interestingly, she highlighted that Gen Z is the most loyal demographic — once engaged, their loyalty tends to last. Corbetta also emphasized the cultural role of e-commerce, which has become not just a transactional space but a platform for educating and influencing consumer behavior in the luxury industry.
Day Two — Creativity, Risk, and the New Frontiers of Luxury
Day Two opened with an inspiring keynote from Marco Bizzarri, who reflected on the transformative moment the luxury industry is experiencing. The former Gucci CEO described this period as one of “radiant change,” provided that leading brands are brave enough to act as triggers of transformation. He noted that many CEOs have played it safe in creative appointments, avoiding risk — a strategy that, while understandable, has limited innovation. Bizzarri reminded the audience that “creative evolution requires protection,” and that the true identity of a fashion house depends on both values and industry mechanisms. He also stressed that the disaffection of younger consumers toward luxury stems from a perceived lack of innovation and emotional connection, calling on Italian brands to learn from the storytelling mastery of the French.
Claudio Marenzi, CEO of Herno, shared insights on the evolution of Made in Italy and its industrial structure. He discussed the acquisition of Montura with the support of family offices such as Agnelli and Pao, illustrating how strategic partnerships can drive growth. Marenzi analyzed the outdoor fashion segment, which experienced a post-Covid boom but has since slowed down, as outdoor apparel remains less aspirational than high fashion. He also raised concerns about overproduction and inventory management — key challenges for the sector. Nonetheless, he celebrated Italy’s unique legacy, built by designers of the 1980s and sustained by ongoing craftsmanship excellence.
The discussion continued with Stefania Lazzaroni, General Manager of Altagamma, and representatives from Kiton. Lazzaroni revealed that across all luxury sectors there is a severe shortage of skilled manufacturing talent, with an estimated need for 250,000 new professionals — half of which must be trained within the next few years. Both she and Kiton emphasized that younger generations are showing renewed interest in craftsmanship, encouraging initiatives such as brand-sponsored technical schools that reconnect education with the luxury supply chain. The conversation also touched on female empowerment, noting that women are increasingly driving innovation and ambition across the industry.
Finally, Renzo Rosso, founder of OTB Group, concluded the Summit with a pragmatic reflection on the changing economics of luxury. He pointed out that store traffic has decreased, and brands must now work differently to sustain profitability. The key, he argued, lies in raising the average transaction value through personalized CRM and clienteling strategies. For Rosso, technology has always been part of OTB’s DNA, not as an alternative to human connection but as a tool to enhance it. He also noted that price growth in luxury reflects a broader cultural shift: consumers are increasingly willing to spend more for well-being and quality rather than quantity. His closing remarks — on OTB’s expansion into beauty clinics — captured the essence of today’s luxury: an ecosystem that blends lifestyle, wellness, and identity.
A Shared Reflection
Across both days, one message resonated clearly: luxury is evolving from a symbol of exclusivity to a language of experience, meaning, and innovation.
From Capasa’s call for responsibility to Rosso’s focus on personalization, every speaker highlighted the same truth — the future of luxury lies in the delicate balance between creativity and technology, heritage and progress, craftsmanship and data.
The Luxury Bocconi Student Society is proud to have taken part in this edition of the Milan Fashion Global Summit, gaining first-hand insight into the trends and challenges that will define the next chapter of the luxury industry.
A heartfelt thank you to Giulia Pessani for the invitation and for fostering a space of dialogue between today’s leaders and tomorrow’s changemakers.
