The future for Diego Della Valle is communication. For Renzo Rosso it’s sustainability. The two entrepreneurs were the main characters of the 2nd day of the 5 total of virtual roundtables organized by the Fashion Global Summit in Milan.
The future for Della Valle
“We had reached a very relevant level of customer loyalty. But now the world has changed: it’s made by young consumers, Chinese ones mostly, but they will soon be global”. A world that “has changed the face of the luxury segment and that wants a new language. We must communicate with young consumers with their tools”. The point is: “All companies will become split 50-50 as communication-focused and production-focused”.
That’s how Diego Della Valle, patron of Tod’s, sees the situation. Wat follows is that the challenge that the group will face is about which communication tool to use to be the most effective. According to the entrepreneur, China “saved the income statements of many of us”, and that it will continue to grow and reassert its place as number 1. The United States, on the other hand, “is the most expensive and complicated market. We all struggle to gain market share”.
With regards to the stock exchange and the financial world, Mr. Della Valle confirmed that Tod’s “today isn’t looking at the stock exchange. If I (DDV) was to evaluate Roger Vivier, I believe the actual value would be twice that of the current evaluation of the Tod’s Group”.
The future for Rosso
“Fashion before the pandemic was too heavy: too many brands and too many collections. It couldn’t go on much longer. I thought about quitting, but today the environment is more fascinating, concrete, as it manufactures more reasoned items with better quality. There are less products and I believe it right to clean house”, claimed Renzo Rosso, head of the OTB Group.
“Today we design collections on avatars and have reduced the costs related to creating prototypes”. According to Mr. Russo, the future of marketing will be made by retailers with 200-300 clients, as they will know everything about their customers: tastes and all other aspects relevant to offering the right products”.
But the entrepreneur of northern origins believes that sustainability will become the key excellence factor to bring back Italy’s fashion system into light. “But sustainability isn’t about recycled jeans. It’s a way of life, a social system. We need to ask ourselves the questions that relate our employees and how we can improve their lives”.
Read also:
- China, online and (more) loafer: Tod’s recovers in the quarter
- Della Valle: “Nobody is keen to lay off: we are looking for solutions”
