Italian shoemaking industry is struggling under the pressure of uncertainty

The report released by the assocalzaturifici at the conference held in Bologna on July 5 said that although the Italian footwear industry had a good start in the first quarter of this year, its export revenue was 3billion euros, an increase of 21.4% year-on-year, and its export volume increased by 11.7% year-on-year, reaching 58.7 million pairs. But there are signs that adverse factors are emerging.

First of all, in addition to the rise in production costs, from December 2021 to March 2022, 36 shoemaking factories have stopped production and closed down, and 83 shoe accessories manufacturers have also closed down during the same period.

In the first three months of this year, the demand for Italian footwear products in the United States increased by an astonishing 70%, which was offset by a 20% decline in sales and value in Russia. Compared with the first three months of 2021, Ukraine's decline was even greater, reaching 48%.

According to the data released by the European Bureau of statistics, in April this year, the conflict between Russia and Ukraine intensified. Italy's footwear exports to Russia fell by 37% and exports to Ukraine fell by 81%.

As long as the conflict between Russia and Ukraine continues, the Italian shoe industry will continue to bear the heavy pressure of uncertainty. Not only in Russia and Ukraine, but also in other parts of the world, sales will be affected to varying degrees due to inflation sweeping the world economy.