A 38-page women's fashion special to tell the story of an evolving sector.

2025 should have been the year of recovery for the fashion industry, and especially for luxury, but instead it was a year of great change. The death of Giorgio Armani marked the end of an era—that of the entrepreneurial designer who, building on his creative talent, built a billion-dollar empire over half a century while remaining independent—and opened up new scenarios, until now all hypothetical, for the future of one of the most important Italian groups in the sector. Other major players, such as LVMH and Kering, have had to contend with the ongoing stalemate in the luxury world (which, however, has not affected everyone equally) and have changed some managers and creative directors: the latest move in chronological order is the appointment, by the newly appointed CEO of Kering, of Francesca Bellettini as CEO and president of Gucci, the flagship fashion house but also the "seriously ill" member of the French group. The goal is to restart with momentum, thanks also to the new creativity signed by Demna.

These are some of the topics addressed in the 38-page Speciale Moda Donna, which will be available on newsstands Tuesday, September 23, as a supplement to Il Sole 24 Ore. Milan Fashion Week, dedicated to women's collections for Spring/Summer 2026, will begin on the same day. Among the most anticipated shows are those of Bottega Veneta, under the new creative leadership of Louise Trotter, and Versace, with Dario Vitale debuting in his new role as creative director. Industry insiders are also keeping an eye on Versace: the Medusa fashion house was acquired by the Prada group in April this year, but Vitale (formerly of Miu Miu) was appointed a month before the sale.

The crisis has also hit digital platforms hard, with layoffs announced by Yoox and Luisaviaroma, which required negotiated settlements to manage creditor relations. Brick-and-mortar multibrand retailers, on the other hand, appear to have developed and refined strategies that—despite drastic decisions and significant developments—are proving successful, as evidenced by the stories of Wait and See, Corso Como 10, and Vanitas Gallery, as well as the interview with Maura Basili, president of Camera Buyer Italia. In addition to the sector's major challenges, the special highlights the strategies implemented by companies in this complex time and also offers a series of product showcases curated by the HTSI editorial team.