Shine comes off Italian footwear for Russian consumers
The research department of Assocalzaturifici, the Italian footwear association, has said the industry is danger of falling below the 200 million pairs produced mark for the third time since 2008.
It sees this level as the “critical threshold”.
“The data for the third quarter 2014 confirm the not totally positive dynamics of the first half,” said Cleto Sagripanti, president of Assocalzaturifici.
“Demand is weak in some foreign markets and falling in Italy. For many companies this means having very volatile and discontinuous order backlogs, with high risks in terms of credit. Hence the fear of the triple-dip, another setback on the road to recovery.”
In the first eight months, exports reached 154.4 million, a 0.1% dip in volume, but value increased 4%.
Negative trends were recorded in particular in CIS countries, with double-digit decreases: -17.5% overall in volume and -21.4% in value, with Russia (-22.2% value), Ukraine (-29.4%) and Kazakhstan (- 14%) all recording declines.
Russia is the main target market of the Marche region, where high-end leather shoes are made.
“The export situation is very worrying, mainly because certain countries, our historic customers, such as Russia, Ukraine and Japan, are in the throes of an economic crisis that cannot avoid having repercussions on our companies,” added Mr Sagripanti.
