By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.
The Italian footwear industry continued to see a slowdown in the first nine months of 2024, according to the latest data from Confindustria Accessori Moda Study Center for Assocalzaturifici, the national association representing Italian shoemakers.
In its latest report, the organization said that the Italian footwear industry recorded a 9.2 percent decline in value of exports for the first nine months of 2024 due to a sharp decline in orders. This led to “heavy repercussions on production activity,” the report added, with production down 18.9 percent in the period and sales down 9.7 percent.
blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dsk-tab-fn-mid-article1-uid0' ) .setTargeting( 'pos', ["mid-article","mid-article1","mid","inbody1","inbody"] ) .setTargeting( 'post', 'btf' ) .setTargeting( 'viewable', 'yes' ) .setSubAdUnitPath("ros/mid-article") .addSize([[300,250],[2,2],[2,4],[4,2],[3,3],[6,6],[620,366]]) .setClsOptimization("minsize") ; });
“In the third quarter of 2024 there was no turnaround in the sector’s economic situation,” Giovanna Ceolini, president of Assocalzaturifici, explained in a statement on Friday. “On the contrary, more than 60 percent of companies closed [in the period] with turnover below the levels achieved in the same period of 2023, with reductions of more than 20 percent for 1 out of 5 companies. The cumulative data for the first nine months therefore confirm the difficulties that had already emerged in the first part of the year.”
Watch on FN
Ceolini also noted that ongoing conflicts in the Middle East and Ukraine continued to “severely penalize” footwear exports in 2024, and that results are “undoubtedly also weighed by the slowdown suffered by many luxury brands.”
In further detail, the report shows that foreign demand is down for all footwear product segments, with the sole exception of shoes with rubber uppers, which saw exports grow by 8.2 percent in volume and 1.3 percent in value in the period. On the other hand, shoes with leather uppers – which have always been characteristic of Italian production and cover 65 percent of foreign sales in value – recorded a decline of 7.1 percent in quantity and a 8.2 percent decrease in value.
By region, European Union sales show fairly moderate declines (2.6 percent in value overall, with 2 percent in France and 6.2 percent in Germany), compared to non-EU markets which dropped 15.3 percent.
However, positive signals came from China (up 1.7 percent in value, and up 19 percent in quantities), Hong Kong (up 8.7 percent) and especially the United Arab Emirates ( up 26.3 percent), despite a moderate decline in pairs for both; and then Turkey, with increases over 10 percent in both volume and value.
Looking ahead, the Assocalzaturifici is estimating that sales in the sector for the year to be down 9.3 percent to 13.2 billion euros, almost 1.4 billion euros less than the previous year.
By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.
By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.
