Italian Footwear Industry Shows Signs of Recovery Amidst Global Challenges

The Italian footwear industry is demonstrating initial signs of recovery despite ongoing challenges within the broader fashion sector, projected to close the year with a 3.1% decrease overall. This downturn is significantly less severe than the contractions experienced earlier in the year, with the third quarter reporting a more modest decline of 0.9%, according to a recent press release from Assocalzaturifici.

Giovanna Ceolini, president of Assocalzaturifici, acknowledged the continued complexity of the market, even at the luxury end, but highlighted the third-quarter results as “a slowing of the decline and a first glimmer of light at the end of the recessionary tunnel.” She emphasized the importance of Italian companies maintaining their strong position in European markets and capitalizing on growth opportunities in dynamic regions like the Middle East as key strategies for navigating the challenges anticipated through 2026. Despite uneven performance across businesses, with some firms still facing difficulties, the projected full-year revenue of 12.8 billion euros underscores the inherent resilience of “Made in Italy” products.

Data from the first eight months of 2025 reveal that exports reached 7.72 billion euros, a decrease of 1.3%. However, a notable increase in export volume – 131.8 million pairs, up 4.3% – suggests a positive trend. This volume recovery coincided with a normalization of average prices, settling at 58.58 euros per pair, a 5.3% reduction. This price adjustment represents a correction following the substantial increases seen in 2022 and 2023.

The European Union remains a crucial market, accounting for seven out of ten pairs exported, and is showing growth in both value (up 2.2%) and volume (up 7.6%). Germany is a standout performer with a 6% increase in value and a 10% rise in pairs sold, alongside positive results in Spain, Poland, Belgium, and Austria. Beyond the EU, the Middle East is the most rapidly expanding region, experiencing a 13% overall value increase, largely driven by a 20% surge in the United Arab Emirates. Turkey and Mexico also contributed positively to export performance.

Conversely, the Far East continues to present challenges, with a contraction exceeding 20% in both value and volume. This decline is attributed to a significant slowdown in China (down 24.6% in value) and other key Asian markets like Hong Kong, Japan, and South Korea. The CIS region also experienced a downturn of 9.2%, with Russia specifically facing a 17.8% decrease, largely due to the ongoing conflict. The US market is being closely monitored, showing a 2.9% value increase in the first eight months, despite a 4.2% volume decline. The sector is carefully evaluating the impact of tariffs imposed under the US-EU agreement; while August saw a concerning 17.8% value decrease, preliminary September data suggest a potentially unexpected level of responsiveness. Currently, 55% of member companies exporting to the US report noticeable effects from the tariffs, with 20% experiencing severe difficulties.