World Footwear

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Italian leather industry down by 26% in 2020

Mar 17, 2021 Italy
Italian leather industry down by 26% in 2020
Taking the hit of the dissemination of the COVID-19 pandemic, the leather industry in Italy registered a decline in revenue of 26%. Exports were down by 27%
UNIC, the Italian Tanners' Association recorded a revenue drop of 26%, while export decreased by 26.9%. During the same period, the segment lost 19.6% in volume (with leather for soles down by 28.7%). According to the same source, “all the main European competitors have experienced a minimum decrease of 20%” in 2020. The situation is similar in other parts of the world: China -14%, Brazil -18%, India and Turkey -20%.

During the last quarter the losses of the Italian tanning segment were “more contained: -15% in value and -11% in volume”, according to UNIC.

The performance is also related to the reference segment to which tanneries sell their product. The clothing segment suffered the most. Footwear, leather goods and automotive all recorded downturns from -6% of the automotive market in China, to the -30% of leather goods in Europe. UNIC points out the “softening of the losses“and “a recovery trend in the last quarter”. The only segment to perform less negatively was upholstery, which, in 2020, was “less paralyzed in Europe (-3%)" and even registered "growth in China (+2%) and the US (+14%)".

Forecast

Based on the analysis by Confindustria Moda, UNIC expects the Italian fashion system to record a -18.4% performance in the first quarter of 2021, with a gradual improvement to -10% in the second, to then turn back into the positive zone during the 3rd quarter. The forecast shows a decisive acceleration toward the end of the year, with an expected “return of regular activities during 2022”.

At global level, UNIC cites “analysts” who believe that” sales of the fashion industry could remain stable or decrease a further 5% during 2021”. If there were to be additional lockdowns and disruptions due to the pandemic, the market could witness “more severe losses (-10% to -15%)”. The luxury segment should be the exception, with forecasts showing “double-digit growth in 2021 already”.

Image credits: m0851 on Unsplash

Source: La Conceria

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