Italian footwear industry economic data for the first 9 months of 2024

Italian footwear industry economic data for the first 9 months of 2024

The Italian footwear industry records a decline in the main indicators in the first nine months of 2024. Declines in exports (-9.2% in value on January-September 2023) with the sharp reduction in orders, had heavy repercussions on production activity (-18.9% Istat index of industrial production) and turnover (-9.7%).

This is the picture taken by the report of the Confindustria Accessori Moda Study Center for Assocalzaturifici, which shows how, with the effect of the post-Covid rebound over, and after a 2023 of substantial stability (at least in value), 2024 closes with negative signs in all the main variables. Estimating a sectoral turnover that the first 12-month projections show slowing by -9.3 percent, to 13.2 billion euros (almost 1.4 billion less than the previous year) and with inevitable effects on business demographics and employment.

“In the third quarter of 2024 there was no turnaround in the sector’s economic situation,” explains Giovanna Ceolini, president of Assocalzaturifici, ”on the contrary, more than 60 percent of companies closed 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 9 months therefore confirm the difficulties that had already emerged in the first part of the year. The reflective performance of many major international economies, in Europe and outside the EU, and a geopolitical context that is anything but favorable, which has seen the addition, in addition to the Russian-Ukrainian conflict, of another front of instability in the Middle East, have severely penalized footwear exports in 2024. If in the European Union sales show fairly moderate declines (-2.6 percent in value overall, with -2 percent in France and -6.2 percent in Germany), on non-EU markets the drop is -15.3 percent. Results on which were undoubtedly also weighed by the slowdown suffered by many luxury brands, whose development had contributed in recent years to sustaining sector dynamics.”