The global pandemic that shook the world in 2020 severely hit the Italian males’s style business.
Based on analysis performed 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 p.c to eight.3 billion euros. In 2019, with revenues of 10.1 billion euros, it accounted for 18.1 p.c of the Italian style and textile business and 28 p.c 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 p.c in comparison with 2019.
“The figures don’t consider the month of December and, to be sincere, I feel that closing information may be much more unfavorable 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 lads’s commerce present, kicking off digitally with the Pitti Join platform.
In 2020, the breakout of the pandemic throughout the globe precipitated a dramatic slowdown in export gross sales, which, in keeping with Confidustria’s forecasts, will likely be down 16.7 p.c 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 p.c of the sector’s complete gross sales, decreased 17.3 p.c. Whereas the losses have been extra restricted in some European nations, together with Switzerland and Germany, the place Italian males’s style exports have been down 6.2 and 9.2 p.c respectively, outcomes have been far more unfavorable 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 p.c, whereas these directed to China and Hong Kong decreased 17.2 and 31.2 p.c, respectively. The unfavorable performances affected all of the product classes. Specifically, the exports of fits and separates have been down 18.2 p.c, these of knitwear dropped 14 p.c, the worldwide gross sales of shirts and leather-based items decreased 21.5 and 18.5 p.c, respectively, whereas the exports of ties have been down 40 p.c.
In Italy, the lads’s sector is predicted to shut 2020 with a 22.3 p.c lower in native gross sales. Within the first six months of the yr, they have been down 37.5 p.c. The pandemic boosted a unfavorable 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 p.c lower of the sell-out in comparison with the identical interval the earlier yr. In the course of the fall 2019 season, retail chains and e-commerce emerged as essentially the most profitable industrial channels, up 5.3 and 24.5 p.c, respectively, whereas the enterprise of unbiased retailers decreased 12.6 p.c.
“I don’t count on 2021 to be simple however on the identical time I really feel optimistic and optimistic since I understand in style corporations an important need to restart and develop new tasks,” Napoleone mentioned, including that he expects 2021 to be outlined by “a sluggish, gradual development.”
Based on Napoleone, two parts will likely be key for the business this yr. To begin with, the vaccination marketing campaign that has simply kicked off in Europe and which is able to in all probability give the primary outcomes this summer season, 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.