Austerity measures hit Italian luxury brands domesti - leatherbiz: Lea Leatherbiz

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Austerity measures hit Italian luxury brands domestically

07/01/2013
High-end made-in-Italy cars suffered severe declines in sales in their home market in 2012.

Ferrari reported a 57% drop in sales in Italy last year compared to 2011, while the fall registered by Maserati was even steeper at 72%. The figures come from the Italian auto industry, Unrae.

Analyst Luca Solca told the Financial Times recently that austerity measures are severely restricting sales of luxury goods in Italy now and estimated that sales of leathergoods and clothes have decreased by EUR 1 billion since midway through 2011, but the value of that market at the moment at around EUR 15.7 billion a year.




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