Sharp slowdown in the Italian footwear sector in the first quarter of 2024, which recorded a contraction in both exports (-9.7% in value and -10.3% in pairs) and turnover (-10.1%). The scenario emerges from the latest report produced by the Confindustria Moda Study Center for Assocalzaturifici, which also highlights a decline in purchases by Italian families (-1.6% in quantity and -0.7% in spending).
In the first quarter in Lombardy exports fell by -10.8% in value. The top 5 destinations of Lombardy exports, which cover 52.9% of the total, were: Switzerland (-23.1%), USA (-26.1%), France (+16.9%), China (+13.1%) and Germany (+3.1%). According to data from Infocamere-Movimprese, the number of active companies (including shoe factories and parts producers) recorded a decrease of -4 companies compared to last December, between industry and craftsmanship, accompanied by a positive balance of +16 employees. As regards the hours of redundancy fund authorized by INPS in the first four months of the year for Lombardy companies in the leather supply chain, there was an increase of +84.7% compared to the same period of 2023: almost 850 thousand hours were authorised, a number higher than +182% also compared to the pre-emergency situation of the first 4 months of 2019.
Giovanna Ceolini, President of Assocalzaturifici, spoke about the national situation: “2023 ended with a substantial stability in turnover (14.58 billion euros, +0.6% on 2022) and in exports, although with volumes already suffering, at the start of 2024 the footwear industry continued the slowdown that began in the second half of last year, now even more marked, with a strong reduction in orders and production activity (the Istat index of industrial production marks a -20.5% in the first 3 months). The usual survey conducted in May among our members highlighted a drop in turnover for 68% of the sample, with a non-negligible portion of Members (18%) reporting a contraction even greater than -20%. Furthermore, entrepreneurs’ sentiment does not show confidence: only 11% are confident in an improvement in the economic trend in the second quarter, which according to the interviewees’ forecasts is destined to close with a drop in turnover of around -7.4% on April-June 2023. Over 80% expect a turnaround no earlier than 2025”.
The report shows how, as regards exports (which account for 85% of national production), 51.9 million pairs were sold in the first quarter of 2024 (6 million less than in the same months last year), for 3.17 billion euros. After a stable January (at least in terms of value: +1.4%), the trend became more penalizing in February (-6.2%), until it recorded a collapse in the order of -20% in March , both in value and in pairs.
The analysis by product type shows declines, both in quantity and value, for all sectors. In particular, footwear with leather uppers, first in importance with an incidence of 65% on foreign sales in value, marks -8.6% in volume with -7% in value for the first 3 months of 2023.
