Italian fashion grows by 2.8% up to almost €90 billion in 2018
Italian fashion represented around 90 billion euros in 2018 and is a sector whose excellent performance is confirmed year by year.
The top 50 Italian fashion businesses account for 40% of the total revenue of the Italian fashion industry.
The sector counts over 67,000 businesses and employs more than 620,000 people. When the eyewear, cosmetics, and jewellery sectors are included, sales in 2018 exceeded €89.7 billion, meaning a growth of 2.8% compared to the previous year.
Italian clothing and textiles sector: €67 billion
Considering the clothing and textiles sector alone, sales in 2018 reached €66.7 billion, with a growth rate of 3% and an increase in sales in the second trimester. According to CNMI (National Chamber for Italian Fashion), exports will increase by 4.3% to €52.24 billion, with a sales surplus of €18.7 billion.
Italian fashion: Luxottica and Gucci in pole position
Luxottica retains its leadership on the Italian fashion and luxury scene. The company, founded by Leonardo Del Vecchio, achieved a revenue of €9,157 billion in 2017 and a net profit of €1,038 billion, of which 80% are from exports.
Gucci, owned by the French group Kering, has become – under the guidance of Marco Bizzarri and Alessandro Michele – the highest earning Italian fashion brand with a €6.2 billion revenue in 2017 (when current CEO Bizzarri took over in 2015, revenue was €3.5 billion for the year 2014), with a growth of 80% in online sales.
Prada is in third place with more than 3 billion euros, 62% of which is from sales outside of the European Union.
A true symbol of Made in Italy, Armani reached €2.3 billion in 2017, with 60% coming from customers across the globe.
Exports at + 4.3% in 2018
According to CNMI (National Chamber for Italian Fashion), exports will increase by 4.3% to €52.24 billion, with a sales surplus of €18.7 billion. The five largest markets for Italian fashion are France, Germany, Switzerland, the United States, and the United Kingdom. Italy is also the third largest exporter of clothing and textiles in the world, behind China and Germany. Women’s fashion accounts for €12.8 billion.
Chloe Payer
Teacher at Accademia del Lusso
