Italy is becoming increasingly important as a production hub for French luxury goods conglomerate LVMH. In March, they opened Europe’s largest jewellery manufacturing facility for Bulgari in Valenza, Piedmont, and they now have their sights set on Tuscany, where plans to enlarge the production facilities for Fendi and Céline are being put into place.

Between 2012 and 2016, LVMH invested £89 million a year in Italy, a figure which in 2017 rose to £133 million, and the trend isn’t looking like slowing down in the next few years.

As for the business forecast for 2018, the luxury giant, whose sales in the first nine months of this year grew by 14%, reaching £27 billion, is planning to "do a little better than in 2017".