Fleave the money. As the new year approaches, it comes naturally to draw a budget – even economical – of last twelve months from the fashion industry. From the phenomenon of gangmaster in the fashion Italian, which has now become a plague, to historical sales and new corporate structures, the 2025 it was marked by numerous events and changes.
Beyond discussed debuts and new creative directions, the sector of luxury goes through a complex phase. Economic uncertainty, the imposition of US duties, the transformation in the public and in the geographical areas of reference were the determining factors for twelve months that were anything but simple. And if for some 2025 proved to be a year to remember, as for Miu Miu and Hermèsfor others 2026 begins with the hope of a improvement.
Prada, the success of Miu Miu and the acquisition of Versace
The group Prada can be satisfied with its 2025. In the first nine months of the fiscal year, which ended last September 30, the company chaired by Patrician Bertelli passed the 4 billion euros in revenues. Despite some decline in sales, the fashion house led by Miuccia Prada And Raf Simons she remains solid and in good health. Miu Miufor its part, holds onto the title of Force driving of the group, with a growth of 41%. Furthermore, last December 2nd, the Prada group announced the completion of theacquisition Of Versace by the American Capri Holdings, in an operation from 1.25 billion euros. The attempt to create something great thus takes concrete shape conglomerate of Italian fashion, as has already been achieved by the French companies LVMH and Kering.
Prada Spring-Summer 2026 (Photo: Spotlight Launchmetrics)
Fashion and gangmastering, the black year of Made in Italy
In 2025, the phenomenon of gangmaster in the fashion has cast a shadow on the fame and prestige of the Italian fashion industry. The crime in question refers to the use, assumption or employment of labor in conditions of exploitation, taking advantage of his state of need. In this sense, the investigation caused a sensation Milan Prosecutor’s Office to the detriment of Tod’s and three of its managers, accused of gangmastering for the production contract to six different companies, spread across Lombardy and Marche.
The Tod’s Spring-Summer 2026 fashion show (Photo: Spotlight Launchmetrics)
The investigation led by the public prosecutor Paolo Storari represents an important (and discussed) novelty because it also identifies the perpetrators of the crimes brands clientsnot just contracted or subcontracted companies. Furthermore, in the Tod’s case, the Milan Prosecutor’s Office believes that the three managers under investigation – Simone Bernardini, Mirko Bartoloni and Vittorio Mascioni – were aware of the conditions of exploitation of the companies that worked for the brand and that they chose to ignore them. This is how it is configured fraudthe principle according to which a person knowingly commits a crime.
In 2025 Loro Piana was placed under judicial administration for accusations of gangmastering and labor exploitation (Photo: Spotlight Launchmetrics)
In any case, in recent months, gangmaster investigations have also been of interest Giorgio Armani, Alverio Martini SpA, Manufactures Dior Srl And Loro Piana. At the beginning of December, however, the Milan Prosecutor’s Office issued an order for the delivery of documents to 13 brandsincluding Dolce&Gabbana, Versace, Ferragamo, Gucci, Missoni, Prada And Yves Saint Laurent. The fashion houses in question would already appear as clients in other files concerning clandestine Chinese factories used in contracting and subcontracting. PM Storari, therefore, intends to go back to the whole production chaincommitted as never before to reducing costs as much as possible at the expense of workers’ rights. In charge of producing clothing and accessories resold on the market with top-ups also of 10 thousand% more.
From Hermès to Cucinelli, who dominates the industry
As usual, Hermès turns out to be one of the player most solid and reliable on the global luxury market. In the third quarter of the year, the French fashion house recorded growth of 5%, reaching 3.9 billion euros. In the first nine months of 2025, however, revenues amounted to 11.9 billion euros. It is not surprising, then, that the value of an Hermès bag is compared to that of a Picasso painting. The situation is also positive Brunello Cucinelliwhich defines 2025 as a year recordboth in terms of numbers and image.
For KeringHowever, the last twelve months have represented a period of transformation and change. The group that owns Gucci, Saint Laurent, Bottega Veneta And Balenciagain fact, generated revenues of 11 billion euros in the first nine months of 2025. Finally, the conglomerate led by the Italian Luca De Meo announced the sale of the beauty sector to L’Oréalin a 4 billion euro operation.
Between ups and downs, between investigations for gangmastering in fashion and epochal changes, 2025 in the fashion industry is coming to an end.