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Economy of Beauty is a project within Kaleidos, Banca Ifis’ Social Impact Lab that promotes high social impact activities that benefit people and communities, including in culture.

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Our report

The Economy of Beauty is a project within Kaleidos, the Banca Ifis Social Impact Lab that promotes high social impact activities in favour of people and communities, including in culture.

The figures of the study

In the new edition of the study, we wanted to take a closer look at the role of the know-how of the Maestri d’Arte in the service of manufacturing, the driving force behind the “Made in Italy” production model, with an analysis of national and international purchasing dynamics and the promotion of “Made in Italy” across the globe.

“Made in Italy” worldwide

We then went further, analysing how tourism operators and the manufacturing and industrial system work together to create a virtuous ecosystem, enhancing each other’s value.

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The Beauty of “Made in Italy” on the international markets

“Made in Italy”, with its typicality, tradition and quality, continues to exert its appeal abroad.

More than 60% of consumers, regardless of their country of origin, would buy Made in Italy products rich in know-how or with a high level of customisation. Made in Italy is enhanced by consumers’ willingness to spend more due to high quality and attention to design.

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Our numbers

There is more and more Beauty in the Italian GDP: at the end of 2023 the contribution of this particular economic sector to Italy’s Gross Domestic Product was 29,2%. This offers exceptional confirmation that Beauty has continued to contribute to the economic growth of our country. For this new edition, we have chosen to focus in particular on the extent to which the excellence of Made in Italy manufacturing originates from the know-how, the work of the Maestri d’Arte, which makes it a feature that is particularly appreciated in international markets.

 

29,2% contribution to GDP in 2023

The contribution to GDP of the Economy of Beauty in 2023, demonstrating its driving role for the Italian economy

54% share of turnover of “know-how”

The share of turnover of manufacturing enterprises on average attributable to artisan “know-how”

76% of foreign consumers

are willing to spend more for a Made in Italy product

From the third to the fourth edition, how has the world of the Economy of Beauty changed?

Go back to the results of the last edition

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Dialogues

“Having chosen fashion and artistic and design furniture as the field of analysis for the 2023 research on the “Economy of Beauty,” together with Banca Ifis we have chosen to talk with a series of entrepreneurs who, using an adjective as overused as it is perfect, one cannot but define as visionaries; they are men and women endowed with vision, that is, with that particular ability to see, which-the etymology is a very powerful interpretive key-in the original Latin construction of Videre contains the root id that is also found in the Greek verb Οἶδα and which indicates knowledge. “Vision” is thus the ability to know by going beyond the mere sense of sight. The entrepreneurs who have agreed to offer their story and testimony on the theme of Beauty to this important project are creators of innovative, revolutionary and long-term projects to which they have devoted every moment of their lives or, in some cases, their second professional existence, devoted to the education of new generations and the preservation of beauty, after decades devoted to the well-being of their companies.”

Fabiana Giacomotti, fashion and costume historian

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