But the Chinese have beaten the Italians at their own game by setting up their own businesses and driving down prices by importing far cheaper fabrics from China.
The Prato industrial zone now accounts for more than 30% of Italy's textile imports from China.
"More than half of Italian-owned businesses in the industrial zone have gone to the wall over the past decade," Mr Landi continues. "There are now more Chinese garment manufacturers than there are Italian textile producers."
The Chinese newcomers have opened up the market in mainland China in a way Italians never could. They are exporting millions of low-cost garments bearing the Made in Italy tag in a seemingly unregulated export drive. They have also notched up increased demand in Europe through cost-cutting.
But Xu Lin, a Chinese entrepreneur who set up Giupel, a clothing business, in Prato more than 10 years ago, believes that economic currents are set to favour Italian companies if they innovate and wake up to new opportunities.
"Italian companies can't compete on price, their strength lies in the area of aesthetics," he says.
"Italian textile companies have long outsourced the early stages of tissue production. But they have the traditional skills needed for the unique finishes and state-of-the art features that come at the end of the fabric production chain. The same is true of clothes."
The long hours put in by the Chinese in Prato are helping fill High Street chains such as Primark, H&M and Topshop in Europe with trendy, disposable fashion. But the Chinese have already raised their sights to the top end of the fashion market.
Lu Chen, a 24 year-old Chinese model living in Italy, says that young Chinese are studying at fashion schools in Italy in order to pick up the Italian design skills - the benchmark for international couture fashion .
"The Chinese really connect with the best quality Italian fashion and want to learn how to replicate that," she says.
Mr Xu says that he is already employing Italians as designers and in key factory positions.
"If the Chinese weren't in Prato and the clothes were made in mainland China instead, the Italians would be suffering far more," he says. "We have helped the Italians by ensuring the Made in Italy brand is ever more popular in China."
As Mr Scervino fits an exquisite leather and silk skirt in his Florentine studio on the tall and elegant Ms Lu, he expresses doubts that flair and chic can be taught in schools.
"You need to live in a country where beauty, art and craftsmanship have been treasured since the Renaissance," he says.
"It isn't something you can copy. I have Chinese customers in my shops around the world who want to buy Italian flair and handwork. It's unique and that is what wealthy people seek."