The Italian footwear industry has witnessed a sharp decline in key performance indicators during the first nine months of 2024, marking a tough year for the sector. The downturn follows a period of relative stability in 2023, which benefitted from a post-pandemic recovery. However, current data from the Confindustria Fashion Accessories Study Center for Assocalzaturifici indicates a challenging road ahead.

The industry’s exports fell by 9.2% in value compared to January-September 2023, triggering a cascade of negative impacts.

Production activity dropped significantly, with the Istat index of industrial production plunging by 18.9%, while turnover also shrank by 9.7%.

Projections estimate that the total sector turnover for 2024 will decline by 9.3%, reaching €13.2 billion a reduction of nearly €1.4 billion compared to the previous year.

These declines have also affected employment and business demographics. The number of active footwear factories fell by 144 units (-4%), and the sector lost 2,619 employees (-3.6%) during the same period.

The decline was particularly pronounced in footwear with leather uppers, a hallmark of Italian craftsmanship. This segment, which constitutes 65% of foreign sales in value, recorded a contraction of 7.1% in quantity and 8.2% in value.

In contrast, shoes with rubber uppers showed resilience, with exports growing by 8.2% in volume and 1.3% in value.

The news was originally published by Montenapo Daily