Il textile, fashion and accessories sector in the first quarter of this year it saw a clear recovery in turnover and beyond expectations, even if it was unable to regain pre-Covid levels.
However, the current situation, due to the many variables in the field, risks frustrate the raise and it could be small and medium-sized businesses that suffer the worst: business combinations will be important, as are contractors.
The said president of Confindustria Moda, Cirillo Marcolin, during the press conference in which the sector data relating to the first quarter and the outlook were presented.
Turnover +19,3% above expectations, orders +15%
The first quarter turnover in the sector recorded a growth of 19,3%, higher than expected (+14%).
Also the progress of orders marked a very positive trend, with an increase of 15% compared to the same period of 2021.
In the semester that will end in June, the turnover will increase by 16%
For the second quarter, the average increase in sales is expected in the order of 12,9%: a positive forecast, but which represents a slowdown, triggered in part by the uncertainties on the international scenario, mainly affected by the tensions of the Russian-Ukrainian conflict, in part by exports and costs of energy and raw materials. With these forecasts, the first half of 2022 should close with revenue growth of 16%.
“The textile, fashion and accessory foundto its role as a driving force of the economy of the country”, commented Marcolin. “Internationalisation, sustainability and digitization – he added – are key issues for the development of our industries, but only by growing and creating synergies between resources will we be truly able to invest in this direction. Today's situation is delicate, Italian textiles, fashion and accessories risk losing ground to non-European competitors, the time has come for our sector to set aside sterile appeals for unity and really start working in this direction, how are they down doing that they work for high fashion houses”. An example is given by Gruppo Florence which brought the number of companies that linked up to 12
In 2021 turnover increased by 22,2% to 91,7 billion
2021 ended "in a big way" for the Italian textile, fashion and clothing sector, said Gianfranco Di Natale, general manager of Confindustria Moda.
Based on the elaborations of the Study Center of Confindustria Moda, the turnover estimate for the Tma textile fashion and accessories is equal to 91,7 billion euros (+22,2% compared to the previous year) but still at -6,4% compared to 2019 levels.
Also the export of 2021 records "very positive" data in the USA (+44,8% compared to 2020) and China (+42,6% compared to 2020).
The sectors that most saw turnover rise compared to 2020 were watch-jewellery (+59,7%), eyewear (+39,2%) and fur (+26,1%).
Fears for the months to come, 43% see a worsening
According to the survey, a strong concern emerges among companies linked to the future of the sector, because only 8% register a positive sentiment on the economic evolution of the sector, against 49% who trust in the stability of the market e 43% expect a worsening.
To weigh are undoubtedly the fears related to the Russian-Ukrainian conflict, which are only partly related to exports. In 2021 the sector exported to Russia and Ukraine assets for 1,46 billion and 0,26 billion respectively, for a total of 1,72 billion. Together, the two countries constituted the tenth export market, with a share of total exports equal to 2,5%. Although the overall share is rather low, some sectors and districts are particularly exposed.
According to the study, it is equal to 43% of the sample share of exporting companies on these markets: 61% of these companies declare that the share of exports to the Russian, Belarusian and Ukrainian markets is less than 5% of total company sales; for 15% it is between 5% and 10%, for 10% of companies it is between 10% and 20%.
For only 11% of the sub-sample, exports to these markets are more significant (between 20% and 50%), with the remaining 3% exposed to more than 50% of total exports.
The heaviest impacts of the conflict are therefore linked to theincrease in cross-cutting costs of raw materials and energy. The war has in fact heavily aggravated a situation of overall increase in costs which represents a serious problem for companies.
“One can speak to all intents and purposes of a stable recovery – Marcolin explained – as the companies themselves interviewed testify. But we see one slowed growth, because companies have a feeling of concern and uncertainty about the future, which dates back to well before the war in Ukraine. Confindustria Moda had already worked for raise awareness of institutions and government on price increases, which added to the difficulty in finding raw materials and the fear of a weakening of demand risks representing a stop to a growth that appeared stable”.
