Final answer:
Moschino is the Italian fashion house known for its criticism of the fashion industry, and for its innovative, colorful, and eccentric designs.
Step-by-step explanation:
The Italian fashion house known for its criticism of the fashion system and its innovative, colorful, and eccentric designs is Moschino. Founded in 1983 by Franco Moschino, the brand has always been recognized for its playful and irreverent approach to fashion. It often includes ironic and satirical references to classism in its designs, poking fun at the fashion industry itself. With styles that can be both whimsical and impactful, Moschino continues to stand out in the world of high fashion with its distinct aesthetic that challenges conventional style.