Centro studi Confindustria Moda: after Covid, Made in Italy fashion export grows only in Korea

Centro studi Confindustria Moda: after Covid, Made in Italy fashion export grows only in Korea

Italian menswear closes 2020 with an almost 2 billion euro deficit and opens 2021 on the rise, according to the Confindustria Moda Study Center. Men’s fashion comes out strongly reduced by the Covid crisis with an annual decline of 18.6%. Despite the breath of fresh air in the summer period (July-September), exports fell by -17.3%. With the exception of Korea (+ 1.9%), all outlet markets are in decline. The main partners, Switzerland and Germany, contain the decline (-6.2% and -9.2%), followed by -12.8% by France. USA, UK and Spain drop by more than 20%. Japan falls by -10.4%, China by -17.2%, Hong Kong is the black jersey (-31.2%). In Italy, spending on men’s fashion in 2020 should drop by 22.3%, after a first half of the year at -37.5%. The worst decreases were recorded by packaging (which covers 54.9% of the sector sell-out), leather clothing and ties.