by 
MILAN – A mix of economic and geopolitical factors are affecting the footwear, leather goods, fur and tanning industries, Italian association Confindustria Accessori Moda said on Tuesday. The decline is also a result of slowdowns in key markets such as China and Germany, as well as difficulties in obtaining credit, which are hampering new investments.
In the third quarter, sales of the above categories fell by 9 percent and forecasts for the year show a decrease of 8.1 percent compared to 2023, reaching sales of 30.1 billion euros. This suggests a slowdown in the decline in the fourth quarter.
More from WWD
Giovanna Ceolini, President of Confindustria Accessori Moda, said: “2024 has also been a difficult year for our companies and the economy shows no significant signs of immediate improvement. However, we are confident that with the right support, a recovery could be possible.”
According to the statistics company ISTAT, industrial production of leather goods fell by 16.1 percent in the first nine months of 2023.
The figures were released as unions negotiate with Bally’s new owner to prevent the closure of a factory in Lastra a Signa in Tuscany, leaving 55 tradespeople unemployed, said Yuri Vigiani of the Filcams Cgil union in Florence.
As reported, a subsidiary of Regent, the owner of Club Monaco and Escada, acquired Bally International AG from JAB in August. Talks between Bally’s management and unions are expected to take place with the Tuscany region on Friday, Vigiani said.
“Right now we are in limbo,” he added. In October, Bally’s CEO Nicolas Girotto left the Swiss company and was succeeded by General Manager Ennio Fontana.
In the first nine months of the year, there was a decline of around 4,800 jobs in the fashion accessories sector, a decrease of 3.3 percent compared to December 2023, and 330 companies closed, according to Infocamere-Movimprese.
Confindustria Accessori Moda reported that exports fell by 8.5 percent in 2024 to sales of 16.7 billion euros. Exports to Germany fell by 3.6 percent, while exports to Spain, for example, increased by 9.1 percent.
Sales to the United Arab Emirates rose 37.8 percent, while exports to South Korea fell 13.3 percent and sales to China fell 6 percent.
Almost 36 percent of companies resorted to government-funded wage support measures (cassa integrazione), an increase compared to the first and second quarters of the year.
