World Footwear

World

Low expectations for a recovery in the Italian luxury sector

Jul 18, 2024 Italy
Low expectations for a recovery in the Italian luxury sector
There are no signs that the downturn in the luxury sector is over, says the Confindustria Moda. Only 1 in 10 entrepreneurs expects an improvement in the second quarter of the year
The year 2024 will be very challenging for the Italian fashion sector, according to Confindustria Moda. Figures from the leather and accessories supply chain show a slowdown in the industry in the first quarter, and the general feeling is that the second quarter was even worse.

Specifically, about half of the members surveyed see a stable economic outlook, but 43% estimate further deterioration. Pending official data, only one in ten entrepreneurs expect the scenario to improve.

In addition, updates from the retail chain point to a summer season in line with previous ones: low sales. This translates into unsold products, with a negative impact on purchases for the summer of 2025.

Nine out of ten entrepreneurs attribute this difficult period to weak demand, but rising energy and raw material costs, a shortage of skilled labour and generational change are also worrying issues for the industry.


Source: laconceria.it

Image Credits: whowhatwear.com


Related Events

  • Jul
    1
    Jul 1-Jul 3, 2025 | Florence, Italy

    Pitti Immagine Filati

  • Sep
    7
    Sep 7-Sep 9, 2025 | Milan, Italy

    Mipel

  • Sep
    7
    Sep 7-Sep 9, 2025 | Milan, Italy

    MICAM Milano

  • Sep
    23
    Sep 23-Sep 25, 2025 | Milan, Italy

    Lineapelle

Related Organizations

  • ARSUTORIA School

    ARSUTORIA School

    Italy
  • Footwear Polytechnic

    Footwear Polytechnic

    Italy
  • Accademia Riaci

    Accademia Riaci

    Italy
  • CIMAC - Italian Centre for Footwear Application Materials

    CIMAC - Italian Centre for Footwear Application Materials

    Italy