The Italian footwear industry faces a challenging 2024, with a -9.2% drop in exports and a -9.7% decrease in revenues compared to the same period in 2023. According to a report by the Centro Studi of Confindustria Moda Accessories for Assocalzaturifici, the sector is navigating one of its most critical phases, driven by the end of the post-Covid rebound and a turbulent geopolitical landscape.
Assocalzaturifici’s President, Giovanna Ceolini, highlights how global economic uncertainty, alongside tensions from the Russia-Ukraine war and the Middle Eastern crisis, have significantly affected the industry. “Over 60% of companies reported lower revenues compared to 2023, with over 20% experiencing reductions exceeding -20%. Notably, sales in non-EU markets declined by -15.3%.”
Market trends and product performance
The report shows a general decline in foreign demand across nearly all product categories, except for rubber-upper shoes, which recorded a +8.2% increase in volume and a +1.3% rise in value. In contrast, leather footwear, a hallmark of Italian excellence, saw a -7.1% drop in quantity and an -8.2% decrease in value.
EU markets recorded moderate losses of -2.6% overall, while China (+1.7%), Hong Kong (+8.7%), and the United Arab Emirates (+26.3%) showed positive trends, albeit with slight reductions in pairs exported.
Switzerland faced the steepest decline, with a -51.3% drop in value and -35.4% in volume, attributed to changes in luxury brands’ distribution strategies favoring direct shipments to final markets.
Impacts on businesses and employment
In 2024, the sector saw 144 fewer active companies (-4%) and a workforce reduction of 2,619 employees (-3.6%). Additionally, the use of temporary unemployment benefits surged by +139.4%, with 26 million hours authorized in the first nine months.
Projections suggest that annual sector revenues will reach €13.2 billion, marking a decline of almost €1.4 billion from 2023.
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