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Italy: children's fashion revenues up 2.8% in 2016
In 2016, the Italian children's fashion market saw revenues hit 2.76 billion euros, recording an increase of 2.8%**.
"In Italy, the children's fashion market remains very small," said Raffaello Napoleone, manager of kidswear tradeshow Pitti Bimbo, which wrapped up Saturday, June 24, and saw major Italian brands such as Dolce & Gabbana, Roberto Cavalli Junior, Simonetta and La Perla show new collections.
In comparison to the men's and women's market, which in 2016 recorded revenues of 10 and 13 billion euros, respectively, the kid's apparel market in Italy is still relatively "small," driven by exports.
In the twelve-month period ending December, exports of children's garments recorded a 4.4% jump, weighing in at 1.04 billion euros. Spain remained the number one commercial partner for Italian exports, despite sales to the country dropping 5.6% in 2016. Moreover, exports to the UK surged 16.1%, while Germany and France grew 2.2% and 14.7%, respectively. Despite their smaller market share, exports to the US grew 29.4%, while those to the UAE grew 4%. However, for the first three months of 2017 (January to March), the trend was reversed, with exports dropping 2.1%.
Total imports into Italy crept down 0.6%, to 1.77 billion euros. Imports from China plunged 18.7% last year, replaced by France, which recorded a growth of 14.4%. For the first three months of the year, imports have increased once again, with an 11% growth recorded, mostly coming into the nation from France and India.
These fluctuating changes underline the volatility of the local children's fashion market, which remains difficult to anticipate. Italy, a nation which recorded an under-24 unemployment rate of 40% (ISTAT figure), also sits last on the European Union's birth rate ranking, an unfavourable figure for the Italian children's market.
*ready-to-wear, lingerie and accessories for children aged 0 to 14 years.
**Source : The National Institute for Statistics (ISTAT), Sita Ricerca and SMI.
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