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Italian footwear industry appeals for aid

Jun 21, 2022 Italy
Italian footwear industry appeals for aid
Italian manufacturers struggle with high levels of inventory as the war in Ukraine continues, hurting badly businesses. Assocalzaturifici renews appeal to the Italian Government for aid
According to footwearbiz.com, Mr. Badon said manufacturers needed help to face the outcome generated by the sanctions imposed on Russia. "We have overcome Covid-19. Now, the government must help us to overcome the war as well", appealed the President of Assocalzaturifici, the Italian Manufacturers' Association.

Sanctions are aimed at transactions worth more than 300 euros, so, at factory prices, many Italian shoes remain within the permitted range. However, out of fear that shipped footwear to that part of Eastern Europe may even not reach customers, as Russia and Ukraine are now practically inaccessible due to the war, some companies have built up expensive levels of inventory, which is hurting businesses. In addition, others have not been paid yet for shipped footwear before the announcement of sanctions.

"Covid-19 forced us to adapt by developing online sales, but with this war, we have ended up with merchandise on our hands, unable to ship it" commented Mr. Renzoni, responsible for the Renzoni brand, to Le Monde. He added that by May his warehouse would be about empty, and now boxes with Russian and Ukrainian addresses are piling up.

Among the EU countries, Italy is the main supplier to both Russia and Ukraine. Last year, Russia purchased 3.7 million pairs of Italian shoes, generating 274 million euros. Italy also sold close to 523 thousand pairs of shoes worth 39 million euros to Ukraine.


Image Credits: fashionista.com


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