Italy’s footwear sector: strong growth for luxury bu - leatherbiz: Lea Leatherbiz

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Italy’s footwear sector: strong growth for luxury but others suffer

05/01/2022
Italy’s footwear sector: strong growth for luxury but others suffer
Italy’s footwear sector has reported a 16% rise in turnover during the first nine months of 2021 compared with the same period the year before, although this was still around 15% less than in 2019, according to industry association Assocalzaturifici.

However, recovery is uneven: the big names are making “great progress”, while two-thirds of other companies finished the year with revenues well below pre-covid levels.

Luxury brands recorded a 17% increase in exports over 2020, and almost reached pre-pandemic levels.

Almost all the top 20 destinations for Italian footwear exports grew, except the UK, which left the EU and registered a 25% decline.

In the leather industry (footwear manufacturers and makers of components, leathergoods and tanneries), a strong increase in production the first quarter (+1,130%) was followed by a drop in the second (-50%) and third (-11%) quarters of the year.

Generally, recovery is being hampered by a resurgence of covid infections around the world, plus higher raw material and energy costs.

 

Image: Italian brand Moreschi


 





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