There was a time when the label "Made in Italy" meant that a product had been branded for greatness. A stamp of approval confirming that it was made by skilled hands with the best materials. Today, through modernization of global markets, this "stamp" as lost its luster.
This has happened in the past, when in the 17th century the French Haute Couture trampled the Italian fashion industry and it would not recover until the early 1950's. The fear now is that history may be repeating itself and many old school designers are left scrambling to adapt.