Italy is the country with the highest number of companies in the Deloitte “Global Power of Luxury Goods” 2017 report, the consultancy said. Italian companies account for around 16% of total revenues of $212 billion generated by the top 100 luxury groups in the world. Revenues made by Italian companies increased 9.3% from the year before, above the top 100 average growth of 6.8%. However, the average size of the Italian luxury goods makers is smaller than their French, US and Swiss rivals.

According to the report, Luxottica is the fourth-largest luxury goods group by revenue, with $9.8 billion, and the only Italian firm in the top 10. The ranking is dominated by LVMH (22.4 billion dollars), followed by Richemont ($12.2 billion) and The Estee Lauder Companies ($11.3 billion). Among the Italian companies, Prada sits in the 17th place, followed by Giorgio Armani (21th). Italy also has led in terms of compound annual growth rate (CAGR, 2013-2015), with companies including Marcolin Group (+43.1% CAGR) and Valentino (+37.8%) being the first and the second among the Top 20 Fastest Growing Companies.