The impact of the global financial tsunami has hit the famous fashion industry. Following the Italy fashion brand Gianfranco Ferre parent IT Holding may be forced to file for bankruptcy protection, the Italy textile and clothing association also asked the government to rescue the industry in order to help the industry tide over the difficulties.

Since the outbreak of the financial tsunami, many luxury brands have been affected by the recession, and the overall situation is deteriorating.

As the wealth of the rich has shrunk and the consumption power has declined, the sales of perfume and jewellery have dropped sharply, and many of the high-end fashion shows have been closed. The fashion companies are facing the pressure of cutting costs greatly. Therefore, the Italy textile and Garment Association held a rare request at the Senate hearing this week to ask the government to help them, because the entire fashion industry has been hit hard by the international economic crisis.

The Italian government passed a stimulus plan worth more than 2 billion euros this month, but it mainly saved the auto industry and the home industry, and it did not pay enough attention to the rescue measures in the fashion industry.

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