Kind of.
Most Italian products are made in Italy — but by imported Chinese “guest” workers.
The leather is Italian (or increasingly from America or Australia), design, and quality inspections are done by Italians.
There are very specific trade laws in this.
These imported Chinese “guest workers” returned from Chinese New Year in January 2020 bringing with them COVID-19. That combined with Italy having the second oldest population in the world with many people, vulnerable, frail, and very elderly, led to false scare tactics about the lethality of COVID-19.