Fashion breathes again. After the penalty due to the lockdown and the restrictions imposed to stem the infections, the textile industry, fashion e accessory (TMA) Italian recorded an overall growth of 18,1%, compared to the same period last year. Orders are also growing again, recording an increase of 2021% in the first nine months of 21,3. Also in the third quarter of 2021, the share of companies that made use of social safety nets decreased sharply, albeit still at high levels (49%), however down compared to 65% in the second quarter. However, pre-Covid levels are still far away and the fourth wave and the increase in raw materials and energy are worrying for the future. These are the main data provided by Confindustria Fashion, the Italian federation that brings together the associations of the textile, fashion and accessory sectors.
According to the results of Confindustria, the sector shows a recovery in turnover compared to 2020 (+23%), but still about 10 percentage points lower when compared with pre-Covid levels. Compared to that period, 39% of companies say they have seen a growth in turnover, 8% are on the same levels as they were then and 53% have not yet closed the gap with pre-Covid levels.
With reference to foreign markets, the exports of TMA show, in the first eight months of the current year, a rebound of +26,2% compared to 2020, reaching approximately 42,7 billion euros. However, compared to the level of exports in January-August 2019, there is still a significant gap, equal to -5,1% (approximately -2,3 billion). Analyzing the elaborations of Confindustria Moda on Istat data, it emerges that the EU area grows on 2020 by +22,2%, remaining below -1,6% on 2019. Similarly, the non-EU area grows by +29,2 .2020% on 7,4, but still marks a -2019% compared to XNUMX. However, there are some markets that instead have even exceeded the pre-Covid levels: the Use they recorded a +46,5% compared to 2020, with a +3,4% compared to 2019; there China +64,6% on 2020 and +23,7% on 2019; The UAE +94,5% compared to 2020 and +4,7% compared to 2019.
According to the data emerging from the research, around 70% of companies underline a further increase in raw material prices during the third quarter of 2021 compared to previous months and as many as 87% believe that the surge in prices will have a strong impact on the recovery . Same concern for the increases in energy costs: according to 78% of the panel they will affect the recovery process.
The average annual recovery for the Italian textile, fashion and accessory sector is expected to be around +20,6%. Considering that in 2020 the turnover had dropped to 75 billion euros, sending about 25 billion euros up in smoke in just 12 months. The 2021 dynamic translates into an increase of just over 15 billion euros. The preliminary estimate would therefore see total sales return to 90,4 billion euros. This is an important recovery, albeit still partial, since the gap with the 2019 levels would remain in the order of -8%.
“Despite the great difficulties that our sector faced last year, the textile, fashion and accessory sector is currently showing a very positive recovery, even if still not entirely sufficient to return to pre-pandemic levels- he commented Cyril Marcolin, president of Confindustria Moda -. The path for the relaunch of the TMA Made in Italy industry already presents new obstacles, starting with the sharp increase in the costs of raw materials and energy. Even the virus is not completely defeated and fears about possible new restrictions on tourism represent a further threat to the recovery".
The Pnrr will be crucial and the whole sector must create a system. “In the coming months, our entire sector will have to work hard to better face the challenges of the future”, added the president Marcolin. Accelerating the green and digital transition path “must involve all sectors of the supply chain. In order to better face this challenge and compete in today's market: the "small and beautiful" that has characterized the Fashion Made in Italy over the years it is no longer sufficient.” The fashion fabric companies "need to increase their size and become more structured, also through the aggregation mechanisms that the legislation makes available", concluded the president of Confindustria.
