While 2009 was a tepid year for most industries, it was especially so for the luxury brands in men’s fashion.  As many people across the world braced themselves for another Great Depression, money was squirreled away for that not quite visible light at the end of the tunnel, when economic indicators would say, “Go ahead, spend!”

Executives Increase Spending

Well, according to an article published by Reuters, some men’s fashion designers believe those indicators have arrived:

After having seen sales hurt by the global downturn last year, many executives and designers at Milan’s menswear shows said they were looking ahead with guarded optimism.

“We are seeing positive signals. The (sales) haemorrhage seen at the end of 2008 and in the first half of 2009 has stopped,” Gianluca Brozzetti, chief executive of fashion house Roberto Cavalli, told Reuters.

“In certain geographical areas, there is a recovery but we are cautious looking ahead … (Compared to the first half of 2009), I confirm there is some improvement. We hope it stays in 2010.”

After the beating that the men’s fashion industry took in 2009, it is no wonder that many industry insiders believe the only way to go is up, albeit slowly.

“Let’s say that it can only get better after coming from a not very enthusiastic 2009,” Mario Boselli, head of Italy’s National Chamber of Fashion, said.

“The recovery has started but it is still slow.”

Observers say orders for spring/summer have been mixed –at times still weak, and therefore a stronger sales pickup is seen in the second half of the year.

Michele Norsa, chief executive of Florence-based maison Salvatore Ferragamo, said he expected “a small growth” this year, led by Asia, and in particular by Chinese hunger for designer goods.

“It would be a mistake to think that we will return to how it used to be,” he told Reuters. “People are buying in a more attentive way, but the outlook is for small growth.”

Gildo Zegna of Ermenegildo Zegna fame is cautious coming into 2010, but he does forecast a return to positive growth as well.

With the worst supposedly behind us, many customers are returning to build their wardrobes, slowly but surely.  It’s as if the light at the end of the metaphorical tunnel has suddenly appeared, the frozen ground is beginning to thaw, and one by one people are pulling out that money they had squirreled away.