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Flair and fanfare promise to light up the Milan Fashion Week catwalks starting Tuesday, but upcoming shows will struggle to distract from a worrying slump in the luxury sector. Gucci -- once the pride of fashion week but now the worst performer in Kering's portfolio -- kicks off the week-long party this week in Milan.

Wallpaper* picks the must-visit Milan fashion stores – from hidden vintage hangouts to concept spaces and big-name boutiques

Milan Fashion Week 2025 kicks off with high fashion and spectacle, but behind the glamour, the luxury sector is grappling with declining sales, economic challenges, and shifting consumer trends.

Rarely has there been such a whirlwind of executive and designer changes at several major international brands, as companies seek to find their footing amid global social and economic uncertainties, curbed luxury spending in China and U.