The global pandemic that shook the world in 2020 severely hit the Italian males’s style trade.
Based on analysis carried out by Confindustria Moda and launched by trade show organizer Pitti Immagine, the Italian males’s style sector is predicted to shut 2020 with revenues down 18.6 % to eight.3 billion euros. In 2019, with revenues of 10.1 billion euros, it accounted for 18.1 % of the Italian style and textile trade and 28 % of the nation’s ready-to-wear gross sales. The analysis additionally highlighted that the worth of Made in Italy manufacturing within the males’s style sector is predicted to be down 18.9 % in comparison with 2019.
“The figures don’t keep in mind the month of December and, to be trustworthy, I believe that last knowledge is perhaps much more damaging than these forecasts,” mentioned Pitti Immagine chief government officer Raffaello Napoleone. Pitti Uomo will inaugurate on Tuesday, in collaboration with Brunello Cucinelli, the 99th version of the boys’s commerce present, kicking off digitally with the Pitti Join platform.
In 2020, the breakout of the pandemic throughout the globe brought about a dramatic slowdown in export gross sales, which, based on Confidustria’s forecasts, might be down 16.7 % to five.9 billion euros, in comparison with the earlier yr.
Within the first 9 months of 2020, exports of males’s style objects, which account for nearly 71 % of the sector’s complete gross sales, decreased 17.3 %. Whereas the losses have been extra restricted in some European international locations, together with Switzerland and Germany, the place Italian males’s style exports have been down 6.2 and 9.2 % respectively, outcomes have been way more damaging within the U.S. and Asia. Within the nine-month interval ending on the finish of September, exports towards the U.S. dropped 27.9 %, whereas these directed to China and Hong Kong decreased 17.2 and 31.2 %, respectively. The damaging performances affected all of the product classes. Particularly, the exports of fits and separates have been down 18.2 %, these of knitwear dropped 14 %, the worldwide gross sales of shirts and leather-based items decreased 21.5 and 18.5 %, respectively, whereas the exports of ties have been down 40 %.
In Italy, the boys’s sector is predicted to shut 2020 with a 22.3 % lower in native gross sales. Within the first six months of the yr, they have been down 37.5 %. The pandemic boosted a damaging development that was already seen through the fall 2019 season, which closed proper earlier than the breakout of the coronavirus emergency in Italy and which registered a 3.5 % lower of the sell-out in comparison with the identical interval the earlier yr. Throughout the fall 2019 season, retail chains and e-commerce emerged as probably the most profitable industrial channels, up 5.3 and 24.5 %, respectively, whereas the enterprise of unbiased retailers decreased 12.6 %.
“I don’t anticipate 2021 to be simple however on the identical time I really feel optimistic and constructive since I understand in style firms an ideal want to restart and develop new initiatives,” Napoleone mentioned, including that he expects 2021 to be outlined by “a sluggish, gradual development.”
Based on Napoleone, two parts might be key for the trade this yr. Initially, the vaccination marketing campaign that has simply kicked off in Europe and which can in all probability give the primary outcomes this summer time, and second, the truth that the European Union and the U.Ok. signed a free commerce settlement which received’t penalize the Italian males’s style export gross sales to the U.Ok., that are valued at greater than 470 million euros.