Italy’s leather goods industry faced a challenging 2024, with exports of bags falling by 9.3% year-on-year.
Credit: phM2019/Shutterstock.com
Bags accounted for 70% of total sector exports and the downturn resulted in a €1.2 billion loss in turnover, the closure of 184 companies and nearly 2,000 job cuts.
According to preliminary data from Confindustria Accessori Moda, the sector’s total turnover fell 8.9% to €11.98 billion in 2024, while production saw a sharp 22.9% decline. The number of active companies shrank to 4,532 (down 3.9% from 2023), with employment dropping by the same percentage to 48,714 workers.
Exports showed an 8.8% decline from January to October, with the full-year estimate at -9.3%. Domestic demand remained weak, with retail sales down 0.7% compared to 2023 and 3% lower than 2019. Sales of leather bags fell by 11.2%, while synthetic alternatives dropped by 4.6%.
Despite the downturn, Assopellettieri emphasised resilience as the industry awaits a recovery. However, optimism remains cautious – 32% of surveyed businesses expect improvements in the second half of 2025, while 50% foresee a rebound only by early 2026.
Source: La Conceria
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