Italian menswear segment projected to grow 0.9% in 2016
January 16, 2017 - Italy
Driven by slow growth in exports, the Italian menswear is projected to grow slower at a modest 0.9 per cent sales growth in 2016 and reach around €9 billion as against revenue growth of 1.4 per cent in 2015. These estimates were presented at Pitti Uomo 91 organised by Sistema Moda Italia (SMI), the Italian fashion and textile industry association.
“But while export growth declined, those businesses catering to the domestic market did well,” the fashion trade body observed.
Italian textile and fashion manufacturing output however, is forecast to recover by growing 1.2 per cent in 2016, compared to a decline of 3.5 per cent it posted in 2015.
According to SMI, Italian export sales are expected to be up 1.9 per cent and touch nearly €5.8 billion in 2016, down from 2.3 per cent increase in 2015, while imports are projected to dip by 0.5 per cent and amount to €4 billion. (AR)