Italian silks were considered the best silk available, silk itself being an expensive material. Flanders lace (mentioned later in the paragraph) was the best quality lace available. Crusoe is demonstrating he can afford luxury.
The encounter with the wolves and the bear is sometimes considered allegorical – the wolves being the Catholic authorities and the bear Peter the Great of Russia, who between them held Europe under rule.
In The Farther Adventures of Robinson Crusoe, published four months after the original, Defoe does indeed recount Crusoe’s return to his island and the events that take place with the English and Spanish men left there.