The turnover of the leather, footwear and leather goods sector in Italy fell by 2024% in 12.
At the last General Assembly of the Italian Association of Leather, Footwear and Sewing Machinery Manufacturers (Assomac), a "comprehensive picture" of the footwear and leather sector in Italy was presented. Preliminary results for 2024 indicate a fall in turnover of around 12% year-on-year, or around 575 million euros, writes Worldfootwear.com.
The decline is the result of a slowdown in the domestic market, due to a slowdown in investment in the fashion supply chain and in export development. All this is happening against a backdrop of global geopolitical instability, inflation, declining consumption and tightening trade barriers.
However, Italy remains the world technological leader in the high-end segment, where, according to Assomac, it accounts for 30% of world exports.
Italy accounts for 52% of global leather machinery exports and 35% of leather goods machinery exports. The footwear segment in Italy (2024% of the global market) was hit the hardest in 12 due to tough competition from Chinese manufacturers.
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