Cautious optimism

Abstract

Illustrated with one table, five figures and a photograph of the centre of Prato, this article charts a revival in the fortunes of this traditional textile centre. With official figures showing production rises and increases in trade for the beginning of 2000, more confidence is being shown throughout the area, with orders up by 5-10%. Fibre pricing is dependent on the fibre with cotton at record lows while cashmere and fine wool prices are rising substantially. Prato has also moved ahead of its historical perception as a yarn and fabric centre and is now recognised as a fashion centre. Labels such as Gucci, Prada and Ferragamo all have plants here. Low cost, lower quality manufacturers are losing ground in Prato with a definite focus on quality and innovative yarns, fabrics and design now defining the area. Weaving is still the most important activity in Prato with an estimated turnover now reaching EUR 2.5 billion and employing 30,000 people.