The survey indicated a marked easing of the downturn in the third quarter, when turnover slipped just 0.9 per cent YoY, compared with much sharper declines in the first half. Overall revenues across the sample of member companies were down 4.1 per cent in the first nine months (9M) of 2025, Assocalzaturifici, the Italian Footwear Manufacturers’ Association, said in a press release.
Italy’s footwear industry is showing early signs of stabilisation, with 2025 turnover projected at €12.8 billion (~$15.1 billion), down 3.1 per cent year on year.
Third-quarter performance improved, easing the earlier downturn.
Export volumes rose despite lower values, led by the EU and Middle East, while domestic demand remained subdued and employment pressures persisted.
“The current overall picture remains complex and does not spare even the top end of the market, but third-quarter data indicate a slowdown in the decline and the first glimmer of light at the end of the recessionary tunnel,” said Giovanna Ceolini, president of Assocalzaturifici. “Despite the lack of significant improvements in geopolitical scenarios, the ability of our companies to maintain a strong presence in European markets and to capture demand in more dynamic areas, such as the Middle East, will be key to facing 2026.”
She added that the limited decline expected in year-end turnover “confirms the resilience of Made in Italy”.
Exports reached €7.72 billion (~$9.11 billion) in the first eight months of 2025, down 1.3 per cent in value, while volumes rose 4.3 per cent to 131.8 million pairs. Average export prices eased to €58.58 per pair, a decline of 5.3 per cent following the sharp price increases seen in 2022 and 2023.
The European Union (EU), which absorbs around 70 per cent of Italy’s footwear exports, recorded growth of 2.2 per cent in value and 7.6 per cent in volume. Germany posted gains of 6 per cent in value and 10 per cent in pairs, with Spain, Poland, Belgium and Austria also performing well. Outside the EU, the Middle East emerged as the most dynamic market, with export values rising 13 per cent overall, led by a 20 per cent surge in the United Arab Emirates. Turkiye and Mexico also reported positive trends.
By contrast, the Far East remained under pressure, with exports contracting by more than 20 per cent in both value and volume, reflecting a sharp slowdown in China as well as Hong Kong, Japan and South Korea. Exports to the CIS region fell 9.2 per cent, with Russia down 17.8 per cent amid ongoing conflict.
The US market continues to be closely monitored. Export values rose 2.9 per cent in the eight-month period, while volumes declined 4.2 per cent. The sector is cautiously assessing the impact of tariffs under the US–EU agreement. Although August saw a steep 17.8 per cent fall in export value, preliminary September data point to a stronger-than-expected response. Around 55 per cent of exporters to the US consider tariff effects significant, with one in five reporting severe impacts.
Imports increased 12.8 per cent in quantity to 271.6 million pairs, driven mainly by logistics flows linked to re-exports, particularly in sports footwear, rather than domestic demand. Italian household footwear purchases in the first nine months matched 2024 levels only due to a positive third quarter, when volumes rose 2 per cent, but remained 7.7 per cent below pre-covid levels.
Industrial production continues to reflect earlier weakness, with the ISTAT index down 8.5 per cent in the first nine months. Business demographics also deteriorated, with the number of active footwear manufacturers down 3.4 per cent and employment falling 2.3 per cent compared with 2024.
However, signs of normalisation are emerging in short-time work schemes. After a 66 per cent spike in the first quarter, authorised hours in the leather supply chain fell 20 per cent over the following two quarters, resulting in a modest 2.5 per cent increase over nine months. Tuscany recorded the highest use of wage support measures, followed by Campania and Marche, reflecting cautious workforce management ahead of a potential recovery, added the release.
Fibre2Fashion News Desk (SG)
