Beyond the beautiful surface
Italian luxury seeks industrial recognition
Italy’s luxury industry is tired of being reduced to a beautiful surface. It does not only want to stand for style, craftsmanship and famous names. It wants to be recognised as an economic force – as an industrial engine behind “Made in Italy”.
Altagamma is sending that signal with Giovanna Vitelli at the top. The chair of the Azimut|Benetti Group took office this month as president of Fondazione Altagamma and will lead the foundation for the 2026–2029 term. The organisation represents Italian high-end companies across Italian design, fashion, hospitality, food, jewellery, automotive, wellness and yachting.
The real story is therefore not only the appointment itself. More interesting is the economic and political claim attached to Vitelli’s arrival. The high-end sector, she says, deserves to be recognised as one of Italy’s locomotives. That is a strong phrase. It is also, unmistakably, a lobbying phrase.
Altagamma supports the argument with initial findings from a study developed with SDA Bocconi. According to the foundation, high-end companies contribute three times more to GDP growth than the average Italian company, employ five times as many people and pay, on average, 300 times more in taxes. The figures are striking, but they need careful framing: they are preliminary findings presented by the industry association itself.
Still, the direction is clear. Altagamma wants luxury to be understood not as decorative excess, but as an industrial ecosystem: brands, suppliers, craftsmanship, training, exports, tourism, hospitality and cultural identity all tied into one value chain.
Italy’s luxury industry is tired of being reduced to a beautiful surface. It does not only want to stand for style, craftsmanship and famous names. It wants to be recognised as an economic force – as an industrial engine behind “Made in Italy”.
Altagamma is sending that signal with Giovanna Vitelli at the top. The chair of the Azimut|Benetti Group took office this month as president of Fondazione Altagamma and will lead the foundation for the 2026–2029 term. The organisation represents Italian high-end companies across Italian design, fashion, hospitality, food, jewellery, automotive, wellness and yachting.
The real story is therefore not only the appointment itself. More interesting is the economic and political claim attached to Vitelli’s arrival. The high-end sector, she says, deserves to be recognised as one of Italy’s locomotives. That is a strong phrase. It is also, unmistakably, a lobbying phrase.
Altagamma supports the argument with initial findings from a study developed with SDA Bocconi. According to the foundation, high-end companies contribute three times more to GDP growth than the average Italian company, employ five times as many people and pay, on average, 300 times more in taxes. The figures are striking, but they need careful framing: they are preliminary findings presented by the industry association itself.
Still, the direction is clear. Altagamma wants luxury to be understood not as decorative excess, but as an industrial ecosystem: brands, suppliers, craftsmanship, training, exports, tourism, hospitality and cultural identity all tied into one value chain.