Speaking to The Financial Times, Rosso said that there is an opportunity in Italy to compete with the French-owned giants as many Italian fashion businesses are still small and family-owned.

He added that he is working with other senior figures in the Italian fashion industry, such as Patrizio Bertelli of Prada, Remo Ruffini of Moncler, Gildo Zegna and Angela Missoni, to modernise the industry and move it away from the traditional family-owned model.

He said: “It’s not easy but we are on the lookout for brands that can strengthen our luxury positioning. We will demonstrate to the world that even Italy can have its own luxury conglomerate.”

Source: Financial Times