In the first nine months of 2024 the Italian footwear sector has recorded a drop in the main indicators. The declines of the export (-9,2% on January-September 2023) and, consequently, of the production painting (-18,9%, Istat data) have had heavy repercussions on production activity and on turnover (-9,7%). The Study Center of Confindustria Fashion Accessories highlights how, once the post-Covid rebound effect was over and after a 2023 of substantial stability, 2024 closed with negative signs in all the main variables. A slowdown of -9,3% is estimated for turnover, to 13,2 billion (-1,4 billion).
Read EVEN Italian Footwear: Exports Always Positive
shoe factories highlights how over 60% of companies closed with a turnover below the levels achieved in the same period in 2023, with reductions exceeding -20% for 1 in 5 companies. The recessionary trend of many important international economies and a geopolitical context that was anything but favorable have severely penalized footwear exports in 2024. If in the EU the sales show cali quite contained (-2,6% in total value, with -2% in France and -6,2% in Germany), on extra-EU markets the decline is -15,3%.
THEonly exception positive comes from shoes with rubber upper, whose exports grew by +8,2% in volume and +1,3% in value. Footwear with leather uppers – which has always been a characteristic of Italian production and equal to 65% of foreign sales – instead recorded contractions of -7,1% in quantity and -8,2% in value. Furthermore, there was a slowdown many luxury brands, whose development had contributed in previous years to supporting sector dynamics.
The causes of the crisis and future prospects
Looking at the markets, the EU partners show overall less penalising dynamics than those of non-EU countries. Among the latter, positive signals come from China (+1,7% in value, with a +19% in volume). This apparently contradictory data suggests a possible reduction in the average prices of footwear exported to the Chinese market, probably linked to more aggressive pricing strategies to counter local competition.
In addition to the complex international scenario, characterised by geopolitical instability e slowdown economic, several other causes have contributed to the Italian footwear sector crisis in 2024:
- increase in production costs;
- international competition;
- changes in consumer habits;
- difficulty accessing credit.
The crisis in the sector has had heavy consequences impact on front occupational. In the first nine months of 2024, there was a decrease of 2.619 employees in the sector, with a significant increase in the use of social shock absorbersThe authorized hours of layoffs in the leather supply chain increased by +139,4% compared to the same period in 2023.
However, despite the current difficulties, the Italian footwear sector can count on a long artisan tradition, strong know-how and an internationally recognized brand. This is where companies must start again, investing in innovation, sustainability e internationalization to start growing again starting this year.