The Italian fashion sector entered 2025 on a challenging note, with revenues dropping 5.8% during the first two months of the year, according to data released by the Italian Fashion Chamber (CNMI) alongside the Milan Fashion Week Men preview.
Core segments of the industry suffered a sharp 7.7% revenue decline, while ancillary and related sectors held steady compared to last year. Despite stable sell-in prices year-over-year, consumer prices saw a modest increase of 0.8%. Retail sales for both apparel and footwear posted negative results in the first quarter.
Export performance revealed a split landscape: ancillary and related sectors experienced a 5.5% increase in exports, but core sectors plunged 6%, largely due to a significant 24.1% drop in shipments to China. This contributed to an overall export decrease of 2.8%.
Conversely, imports for core sectors surged 8.6%, fueled by a 30.2% rise in imports from China and a 12.8% increase from Spain. Ancillary and related sectors also saw imports grow by 9.4%.
Despite maintaining a trade surplus of €4.2 billion in the opening months, the industry’s surplus narrowed by €1.1 billion compared to the same period last year.
Looking ahead, the Italian fashion sector anticipates a 3.8% revenue decline in the first half of 2025. However, the full-year outlook remains uncertain, clouded by volatile US trade policies and ongoing tariff negotiations.
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