Credits: AKAstudio-collective
How much is the men's sector worth in the Italian fashion scene? 11.9 billion euros, or 18.5 percent of the Italian textile-clothing supply chain, according to data collected by Sistema moda Italia and released at Pitti Uomo 106, scheduled from today, June 11th, through June 14th, at the Fortezza da Basso in Florence.
A figure up by 4.7 percent that comes almost entirely from exports, which account for well over half of the sector's turnover, with the EU market covering 45.7 percent of total sector exports, while non-EU is the largest “buyer,” absorbing 54.3 percent.
EXPORT COUNTRIES
In 2023, the top destination for Italian menswear was France (16.8 percent), followed by Germany and the United States. China, up 13.9%, reached 647 million euros. This was followed by South Korea and Japan, which experienced very positive changes (at +18.1 percent and +19.8 percent, respectively). Poland (+21.2 percent), Russia (44 percent), Austria (0.7 percent) and the United Arab Emirates (45.3 percent) are also on the rise.
THE IMPORT SITUATION
In contrast, imports experienced a contraction of 2.3 percent, dropping to about 5.6 billion. As in the case of exports, 48.2 percent of men's fashion entering Italy comes from Europe, while non-EU provides 51.8 percent, despite registering a loss of -13.8 percent from the previous year.
WHAT ABOUT END CONSUMERS?
Italian buyers show a timid hint of recovery (+0.4%). Chains continue to outperform especially independent retailers, which lose further ground going to -7.5% as well as hawkers and outlets, at -9.1% and -4.7% respectively . Also at a loss is online, which goes to -4.6 percent after a recovery in 2021. Finally, hawkers and outlets are also affected by a negative trend, with the former losing 9.1 percent and the latter 4.7 percent.
