Shoe industry records sales decline of almost 40 percent
The footwear industry in Italy recorded an average decline in sales of 2020 percent in the first quarter of 38,4. The shoe manufacturer association Assocalzaturifici estimates that total losses are likely to be 1,7 billion euros. The figures are based on a survey by the Italian Textile, Fashion and Accessories Association (Confindustria Moda).
60 percent of the shoe companies surveyed reported a decline in sales of 20 to 50 percent in the first quarter compared to the first quarter of 2019, and another 20 percent even recorded a decline in sales of more than 50 percent. Orders also fell sharply: 46 percent of the companies surveyed stated that they received 20 to 50 fewer orders in the first quarter of this year, and 37 percent had their order portfolio reduced by more than 50 percent. The average decline in orders was 46,2 percent.
“The lockdown has a significant impact on the sector,” explains Assocalzaturifici chairman Siro Badon. “Unlike the textile industry, we cannot retool our production lines and have therefore experienced a greater decline in sales and orders than other companies in the fashion industry. We need bold structural measures from the government to regulate credit, taxes and support exports.”
