Lorenzo Fiori reports that Milan, the current center of worldwide fashion, shows no recession signs. High-end spending, luxury shopping, and vibrant nightlife suggest people have money to spend.
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 26 September 2025
⏱️ 4 minutes
🧾️ Download transcript
Summary
1790 MILAN
Transcript
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| 0:00.0 | Building a coffee business? |
| 0:01.9 | Serving the best Americano in town is up to you. |
| 0:04.1 | But winning back time and growing your business, leave that to sum-up. Take orders and payments anywhere with the new SumUp terminal. Turn occasional customers into regulars with a free loyalty program. And with the SumUp point-of-sale system, you'll always know when you're running low on your best-selling blends. Visit sumup.co.uk to learn more. |
| 0:25.6 | This is John Batchel, a conversation with colleague Lorenzo Fiori in Milan, |
| 0:33.4 | the very fashionable and fast-growing city of Milan, very high rents, very high prices for real estate. |
| 0:42.2 | The desire of all the traders who used to live in London, move to Milan and continue management. However, |
| 0:51.5 | are the conditions for a recession in place in Milan with the high-end spending as there's slowdown? |
| 0:55.6 | What about entertainment? What about the life of the city? |
| 1:02.8 | Doubts about recession here in the United States? Do they extend to continental Europe? Italy is no paragon of fiscal health these many years. So what about Milan? Lorenzo has an anecdotal report that is positive. Much more of this to nigh. |
| 1:14.3 | I can tell you that this week, specifically this week, Milan is the center of the fashion worldwide. |
| 1:23.1 | And there are many people going around and shopping from very luxury and high-priced goods |
| 1:30.8 | and also enjoy other shops. |
| 1:34.6 | So in my opinion, there is a good evidence that things in Italy, at least in Milan, but also in all the other major Italian |
| 1:47.8 | town, are progressing well from this point of view. I can even tell you that when I go around |
| 1:55.1 | at night, not in the center downtown of Milan, but in all the area outside the so-called inner circle, |
| 2:05.9 | it's plenty of nice bar, restaurant, trattoria and so on. |
| 2:10.5 | There are many young people, many people all around. |
| 2:13.8 | So that means that people have money to spend. |
| 2:17.9 | Hi, Malastair Campbell from the rest is politics. |
| 2:19.9 | Nishkevar here from Pod Save the UK. |
| 2:21.7 | And Christiana Fierrez from outrage and optimism. |
| 2:24.6 | Rising inequality, conflict, climate disaster is very hard to find reasons to be hopeful about the future. |
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