Can Giorgia Meloni reinvigorate Italia SpA?

Prominently displayed at a bookshop at Linate airport in Milan is the cover of o (When we were the masters of the world). The book about the Roman empire has been on the bestseller list since it was published in September. It reflects Italians’ nostalgic longing for their now rather ancient glory. They could take solace from the fact that many Italian brands are still masters of the world: think fast cars (Ferrari, Maserati, Lamborghini), elegant motorcycles (Ducati, Vespa), beautiful clothes (Gucci, Prada, Zegna) and accessories to go with them (Fendi, Bottega Veneta).Except that few of Italy’s coveted marques and labels these days—including all of those listed above—are fully Italian. Many are either incorporated abroad, listed elsewhere or owned by foreigners. And taken together, they lag behind those from other big European countries in terms of value. Italy’s 30 biggest brands are collectively worth just a third of Germany’s top 30 and a quarter of France’s, according to Kantar, a research firm.