Fashion is subjective just like anything else. After being in Italy for two weeks visiting Milano, Firenze (Florence) and Roma. The Italians do have finesse and style. Here's what I saw....
Milano: The fashion capital is exactly that, they move and shake in this city much more than the other two cities. Faster paced, the main artery of Italy is right here in Milano, there's a sense of coolness happening here, I like this city very much in style, they really appreciate design! Dolce & Gabbana stores like Starbucks on every corner, Grazie Mille!
Firenze (Florence): Has a traditional style sensibility here. More traditional here but with colour, boy they do love colour which is cool! Business men embrace bright colours i.e. orange, red, yellow from eyewear to accessories.
Roma: I have to admit I was disappointed with this city. Very old world traditional Italian designs (which is fine) and no fresh designs in fashion down here. This city thrives on their ancient history to make money here. Alot of possibilities in this city.