During this challenging time for the country, Camera Nazionale Della Moda Italiana has announced a document with proposals for support interventions for the fashion industry. The report has been sent to the Prime Minister and the competent ministries, with which CNMI has been in constant contact for weeks actively engaged in the implementation of economic measures to safeguard the country.
The fashion sector represents the second largest industry in the country and Italy is the first luxury fashion producer in the world, as well as the primary fashion producer in Europe. The economic crisis generated by the emergency that the country is now facing will entail a series of unexpected and inevitable consequences which will ultimately impact the financial equilibrium, production and employment continuity of medium and small businesses for the Italian fashion industry as well as the reality of artisan excellence, at least throughout 2020.
As this production chain is at risk, Camera Nazionale Della Moda Italian believes that the sector should be included among those most affected by the consequences of the spread of the COVID-19 impact virus, like tourism and transport.
Some of the proposals made by the organisation include a cut in tax and social burdens of the companies involved in the crisis to contain labour costs, measures to facilitate a temporary unilateral reduction of working hours for all employees on permanent and temporary contracts up to a maximum of 35/40% and provision for financing a special layoff for the most severe corporate crisis cases. The document also touches on the introduction of measures that can push the Public Administration to speed up payments to companies, so as to directly enter liquidity into the system without going through the banks, increasing the holding capacity of the companies themselves and the introduction of tax incentives to promote the hijacking of production towards Made in Italy.
Camera Nazionale Della Moda Italian is also working with ICE Agency, the Ministry of Foreign Affairs and International Cooperation and the other sector Associations on a series of promotional and communication initiatives for the fashion industry that will be implemented in the second half of the year.