Russia’s love for Italian shoes is waning

Italy’s footwear manufacturers made 184.3 million pairs of shoes and boots in 2018, bringing in revenue of more than 7.8 billion. Industry association Assocalzaturifici released the full-year figures at its annual general meeting in Milan on June 26. The numbers indicate a decline in volume of 3.3% compared to 2017 and an increase in value of 0.8%.

The average price per pair Italian manufacturers were able to secure in 2018 was 42.65. The corresponding figure for 2017 was 40.88.

Assocalzaturifici said the decline in production volume in 2018 was the third consecutive year in which the Italian footwear industry’s output has declined, but it said the rate of decline had slowed.

Exports accounted for 85.1% of volume and 85.9% of value. “Exports have always been the driver of the sector,” the association said. It expressed concern about exports to Russia, though, pointing to declines of 13.1% in volume and of 11% in value in 2018. “Sales [to Russia] are currently half of what they were in 2013 in value terms,” Assocal said.