The Italian leather goods industry 2019 Preliminary Results · The imported leather products KG. decreased by -7.6%; the quantity of goods made of other material (largely majority,

ASSOPELLETTIERI Via Alberto Riva Villasanta, 3 - 20145 Milano (ITALY) +39.02.58451.1 [email protected] CODICE FISCALE: 80046650158 assopellettieri.com

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The Italian leather goods industry

2019 Preliminary Results

Sectoral report prepared by Centro Studi

for

ASSOPELLETTIERI Via Alberto Riva Villasanta, 3 - 20145 Milano (ITALY) +39.02.58451.1 [email protected] CODICE FISCALE: 80046650158 assopelletieri.com

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THE ITALIAN LEATHER GOODS INDUSTRY IN 2019

In the second half of the year, the favourable dynamics that had already emerged in the

previous months, were confirmed on foreign markets.

In an international macroeconomic context, where new difficulties were not lacking (the

USA protectionist winds of the trade war with Beijing, which has nearly achieved Europe,

and the slowdown of the most important economies, such as Germany and China)

alongside the continuation of pre-existing crisis (Russia in the first place) and in a climate

of general uncertainty, the Italian leather goods sector – considered as a whole – achieved

definitely positive results in 2019, driven once again by exports.

In a year largely characterized by the contraction of international trade and attenuation of

world growth, foreign sales of leather goods have reached new absolute records in value,

with a consequent significant consolidation of the trade surplus, showing a vitality

unfortunately unknown to the domestic market, recording reductions in household

expenditures.

In the first 10 months of the year, exports grew by +25.8% in value over the same period

of 2018, with a definitely limited increase in terms of value (+0.8%) and an increase of the

medium prices (+24.7%).

The very divergent trend between quantity and value reflects the increasingly fundamental

role played, within the sector dynamics, by the International Luxury Brands, as shown by

the figures relating to exports to Switzerland (traditional logistic-distribution platform for the

fashion world brands), even doubled in value (+102.6%). Net of the flow to this market,

sectorial exports would in fact increase by a modest +2.5% and slightly decrease in KG

(-0.3%).

Although there is no doubt about the relevance of the overall performance of the sector –

which 2019 proved to be the most dynamic among the sectors of the national fashion

textile accessory - a more deepen examination of the data allows us to highlight how this

growth hides the presence of “two speeds” inside the national product reality, whose

fabric is made up of a large number of very small companies (70% have no more than 5

employees) for many of which, the year just ended, has reserved results far from those

above mentioned double-figure averages. This is confirmed by the indications of numerous

operators, an also by the figure relating to birth-mortality company released by

Infocamere-Movimprese, which recorded a negative balance from January to December

2019 in the number of active leather goods companies equal to 120 units, between

crafts and industry, as well as the resumption of the use – with reference to the largest

aggregate of companies in the leather goods sector, to the wage integration tools - with

the authorised wage support hours (CIG), increased in 2019 by +28%, with increases in

both the ordinary component (+31%) than the extraordinary one (+40%).

Behind the overall considerable numbers linked to subcontracting for the brands, there is a

very uneven situation among the companies (artisan workshops, small – medium


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dimensions own branded companies or not working for luxury brands) which have

achieved, in 2019, less profitable or even negative results.

The Istat data on Italian leather goods and tanned leather exports also show that only

Tuscany, among the main export regions, has recorded significant growth. The detail of

the flows by destination and type of products allows to highlight further critical issues in

recent international demand, as well as to underline their most rewarding aspects.

Behind the aforementioned Switzerland – which has become, not only in terms of value

(where it holds 37.4% share of total exports) but also in terms of quantity, bypassing

Germany, the first country – we find France, another destination, tied, in part, to

subcontracting for the brands, which grew by 15.2% in value and + 8.3% in KG in the first

10 months of 2019.

France and Germany (where the cooling of the economy seems to have induced

distribution to greater prudence in purchases, causing –5.9% drop in quantity, compared

to substantial stability in value) have always been the main destination markets of the

Italian operators, which also in 2019 directed 60% of the exported quantities to the 27

partners of European Union (against a much more limited share in value, equal to 27%,

due to an average price of 72.60 euros per KG, four times less than that of goods sent to

Extra EU (298 euros / KG).

On the whole, the EU markets registered a hold, both in terms of KG (+0.6%) and value

(+1.4%) but with a move back in different countries: Spain, The Netherlands, Austria,

Romania and Poland, to mention the main ones, recorded in fact decreases both in value

and in volume, even if with different intensity.

On the other hand, the sales trends towards the United Kingdom is favourable, +3% in

value and +4.3% in KG, in a year characterized by the strong uncertainty linked to a

possible Brexit no deal.

Positive indications for the North American markets, where both Canada (+16.8% in

value and +3.3% in KG) and USA (+4.9% in value and +11.3% in quantity) are growing.

The American market, our third destination in value and fourth in volume is very important

and it’s for a long time under observation because we fear that tariff disputes with China,

which have recently eased, may also extend to trade with the EU.

Difficulties persist in Russia where, after the partial recovery of the two-year period 2016-

2017 and the abrupt interruption of 2018, you can find double-figure contractions in the

first 10 months of 2019 (-16.3% in value and –21.8% in KG), as happened for the

contiguous footwear sector. Equally penalizing performance affected also the other two

mains markets of the area, Ukraine and Kazakhstan (-8.5% and –7.3% in value,

respectively).

Fluctuating results in the Far East, which recorded an overall +4.1% increase in value,

accompanied however by a –3.2% drop in KG.


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South Korea reaffirms the favourable trend of recent years, recording a further double-

figure increase (+19% in value with +12% in volume) which made it the fourth destination

market in 2019, to the detriment of Hong Kong (-14.4% in value and even –26% in KG),

which international trade statistics still consider separately from China. Mainland China

grew by 11% in value (+5.3% in quantity).

If considered together, Mainland China and Hong Kong are confirmed at the second

destination market for Italian leather exports, despite a –4.2% decrease in value on

January / October 2018.

Japan, growing by 11.2% in value and +4.4% in KG, will certainly be able to offer the

Italian operators important new development opportunities even thanks to the partnership

agreement signed with the EU (which provides for a gradual but slow, liberalization).

Favourable trends also for Taiwan and for Thailand, which, thanks to increases in the

order of 10%, has become one of the top 25 destination markets.

On the other hand, there was a heavy decrease, around -30%, in exports to Singapore,

where the negative trend, which began in 2016 is going on.

It should be underlined that Far East markets are, among the main export destinations,

those which have (together with Switzerland) the highest average price per KG, far higher

than the average of the total Italian export.

Middle East markets are quite stable (-1.1% in value and +1.1% in KG globally), despite

the positive signs in the UAE, the main customer of the area.

The export analysis by material highlights significant increases in value of 21.7%, both

for leather goods products (which cover three quarters of the export national value) and for

those in substitute (+40.8%).

But the leather goods sector – typical of Made in Italy production – shows a little

contraction in quantity (-5.2%), with negative signs for bags (-4.8%) and small leather

goods (i.e. wallets, purses, key rings, cases),

dropped by -5.8% in KG.

The export of non-leather items is also consolidated in KG (+6.4%), with a +10.5% for

bags.

Import appears to be almost stable in quantities (+0.7% over the first 10 months of 2018),

with a +5% in value, as the low dynamism shown by the international market. The average

price per KG (+4.3%) stood at € 22.60, more than 7 times lower than the one of exports (€

162.24).

The imported leather products KG. decreased by -7.6%; the quantity of goods made of

other material (largely majority, since they cover almost 90% of the volumes entering Italy)

increased of 2% (but with +23.5% for bags). Both leather and substitute products

increased of around 5% in value.


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Goods arriving from China (first supplier with a share of more than 60% of the total

quantity) increased by a 6.6% in quantity and 4.2% in value. Significant increase for

Vietnam (+ 22% in KG, +39% in value). The average prices of products coming from these

two countries are the lowest among those of the main suppliers (10.06 and 7.79 euro/KG,

respectively).

Considerable growth for imports from France and Switzerland; important reduction for

flows arriving from Romania and Spain.

Thanks to the strong increase in exports, the trade balance has recorded a substantial

strengthening in the first 10 months (+39%), reaching 5.8 billion euros and exceeding the

assets made in the whole 2018 (5.05 billion). Thanks to this result, chapter “42” of the

leather goods sector confirmed the fifth place in terms of credit balance among the 99

commodity chapters that make up the customs nomenclature, guaranteeing a fundamental

contribution to the Italian balance payments.

No news on the domestic front: in 2019 recorded a further contraction (-2.6%) in quantity

and – 1.7% in expenditure, according to Sita Ricerca), confirming the unfavourable trend

of recent years. These figures become even more penalizing, considering the umbrellas

(down more than 5% because of the mild climate of the beginning of the year ).

After a third quarter with weakly positive signs, the last part of the year highlighted new

declines, excluding a cycle reversal.

Negative trends for handbags, -5.6% in volume and -3.8% in value, by far the most

purchased items (they cover more than half of the total expenditure), as well as for belts

(-5.5% in the number of pieces and -3.8% in value). More content decrease for wallets

(-2.1% quantity). Backpacks are recovering compared to 2018; good for suitcases and

trolley.

Regarding the trend by purchase channel, although the annual final date are not yet

available, according to the first elaborations, the indications already highlighted in the first

half of the year, which showed significant drops in the traditional retail, department stores

and itinerant trade but a further growth for e-commerce, should be confirmed.

Milan, February 11th, 2020

Statistical attachments enclosed below.

ITALIAN LEATHER GOODS COMMERCIAL EXCHANGE

FIRST 10 MONTHS 2019

EXPORTSPeriod: January-October

Value

(Millions of €)

Quantity

(Millions of KG)

Average Price

€/KG

Year 2018 6,810.04 52.4 130.08

Year 2019 8,564.33 52.8 162.24

% var 25.8% 0.8% 24.7%

IMPORTSPeriod: January-October

Value

(Millions of €)

Quantity

(Millions of KG)

Average Price

€/KG

Year 2018 2,653.34 122.5 21.67

Year 2019 2,786.34 123.3 22.60

% var 5.0% 0.7% 4.3%

TRADE BALANCEPeriod: January-October

Value

(Millions of €)

Year 2018 4,156.70

Year 2019 5,777.99

% var 39.0%

Source: Confindustria Moda research center on ISTAT data

EXPORTS

Value

(Millions of €)

Quantity

(Millions of KG)

Average

Price €/KG

val kg a.p.

Total Exports 8,564.33 52.8 162.24 25.8% 0.8% 24.7%

of which towards:

Switzerland 3,202.55 6.8 471.82 102.6% 8.9% 86.0%

Others 5,361.78 46.0 116.56 2.5% -0.3% 2.8%


Historical series of the first 10 months of years 2008-2019, value and quantity (KG)

ITALIAN LEATHER GOODS EXPORTS, FIRST 10 MONTHS 2019: SHARE OF SWITZERLAND ON TOTAL

% Var. on previous year

2,8372,247

2,6563,456

4,2164,675 5,003 5,318 5,370

6,1306,810

8,564

0

2500

5000

7500

10000

10m'08 10m'09 10m'10 10m'11 10m'12 10m'13 10m'14 10m'15 10m'16 10m'17 10m'18 10m'19

Millions of Euro

43.935.2

41.5 42.1 45.2 46.7 48.0 49.9 49.8 53.4 52.4 52.8

0

25

50

75

100

10m'08 10m'09 10m'10 10m'11 10m'12 10m'13 10m'14 10m'15 10m'16 10m'17 10m'18 10m'19

Millions of KG

Switzerland

37.4%

Others62.6%

ValueSwitzerl

and12.9%

Others87.1%

KG

Exports by product type and raw material Period: January-October

Value in euro (millions)

10m2018 10m2019 % Var 10m2018 10m2019 % Var 10m2018 10m2019 % Var

Briefcase and document holder 187.21 288.46 54.1% 102.87 123.74 20.3% 84.34 164.72 95.3%

Suitcase and travel accessories 443.46 558.26 25.9% 189.05 214.32 13.4% 254.42 343.94 35.2%

Bags 4,219.22 5,227.35 23.9% 3,376.20 4,078.82 20.8% 843.03 1,148.53 36.2%

Small leather goods 1,206.82 1,548.74 28.3% 952.29 1,182.63 24.2% 254.52 366.10 43.8%

Belts 458.92 714.57 55.7% 458.92 714.57 55.7% - - -

Musical instruments case 1.29 1.12 -13.1% - - - 1.29 1.12 -13.1%

Other leather goods 293.12 225.82 -23.0% 293.12 225.82 -23.0% - - -

TOTAL EXPORTS 6,810.04 8,564.33 25.8% 5,372.45 6,539.91 21.7% 1,437.59 2,024.42 40.8%


Quantity in kg (000)


Briefcase and document holder 7,525 8,210 9.1% 739 650 -12.1% 6,786 7,561 11.4%

Suitcase and travel accessories 6,513 6,162 -5.4% 1,018 1,178 15.7% 5,495 4,984 -9.3%

Bags 22,596 22,905 1.4% 13,502 12,860 -4.8% 9,094 10,045 10.5%

Small leather goods 9,270 9,592 3.5% 3,614 3,403 -5.8% 5,656 6,189 9.4%

Belts 3,125 3,360 7.5% 3,125 3,360 7.5% - - -

Musical instruments case 56 46 -17.3% - - - 56 46 -17.3%

Other leather goods 3,268 2,512 -23.1% 3,268 2,512 -23.1% - - -

TOTAL EXPORTS 52,352 52,787 0.8% 25,266 23,962 -5.2% 27,086 28,825 6.4%


TOTAL LEATHER SUBSTITUTEPRODUCTS

PRODUCTSTOTAL LEATHER SUBSTITUTE

leather76.4%

other23.6%

Value (share 10m2019)

leather45.4%

other54.6%

KG (share 10m2019)

Briefcase and Doc. holder

3.4%

Suitcase and travel acc.

6.5%

Bags61.0%

Small leather goods18.1% Belts

8.3%

Musical instruments case

0.0%

Other leather goods2.6%

Exports by product type (value share), First 10 months 2019

Exports towards the main Countries of destinationPeriod: January-October 2019 Ranking top 25 per value

10m2018 10m2019 % VarShare

2019 (%)10m2018 10m2019 % Var

Share

2019 (%)

1 Switzerland 1,580.94 3,202.55 102.6% 37.4 6,232 6,788 8.9% 12.9

2 France 714.96 823.75 15.2% 9.6 5,736 6,211 8.3% 11.8

3 USA 530.09 556.14 4.9% 6.5 3,575 3,980 11.3% 7.5

4 South Corea 434.20 515.82 18.8% 6.0 1,141 1,277 11.9% 2.4

5 Hong Kong 520.01 445.16 -14.4% 5.2 1,677 1,243 -25.9% 2.4

6 Japan 391.62 435.67 11.2% 5.1 1,657 1,731 4.4% 3.3

7 UK 385.71 397.11 3.0% 4.6 3,086 3,219 4.3% 6.1

8 China 348.15 386.21 10.9% 4.5 1,077 1,134 5.3% 2.1

9 Germany 377.21 379.41 0.6% 4.4 7,174 6,754 -5.9% 12.8

10 Spain 157.40 140.19 -10.9% 1.6 3,066 2,985 -2.6% 5.7

11 Netherland 131.80 128.34 -2.6% 1.5 2,162 1,953 -9.7% 3.7

12 Russia 88.79 74.33 -16.3% 0.9 800 626 -21.8% 1.2

13 U.A. Emirates 58.96 60.61 2.8% 0.7 300 318 6.1% 0.6

14 Austria 64.17 60.23 -6.1% 0.7 1,237 1,070 -13.6% 2.0

15 Romania 99.75 57.91 -41.9% 0.7 1,613 1,198 -25.7% 2.3

16 Singapore 79.91 56.69 -29.1% 0.7 211 153 -27.5% 0.3

17 Canada 47.55 55.53 16.8% 0.6 283 292 3.3% 0.6

18 Macao 49.84 55.31 11.0% 0.6 59 58 -1.3% 0.1

19 Taiwan 43.51 48.51 11.5% 0.6 138 149 8.4% 0.3

20 Australia 54.58 48.15 -11.8% 0.6 290 227 -21.5% 0.4

21 Poland 44.72 42.75 -4.4% 0.5 1,161 1,120 -3.6% 2.1

22 Mexico 21.69 33.54 54.6% 0.4 124 152 21.9% 0.3

23 Belgium 37.51 33.19 -11.5% 0.4 628 675 7.5% 1.3

24 Portugal 34.61 31.59 -8.7% 0.4 680 682 0.3% 1.3

25 Thailand 28.03 30.93 10.3% 0.4 76 86 13.1% 0.2…

TOTAL EXPORTS 6,810.04 8,564.33 25.8% 100.0 52,352 52,787 0.8% 100.0

of which:

to EU Countries 2,275.88 2,308.19 1.4% 27.0 31,611 31,791 0.6% 60.2

to EXTRA-EU Countries 4,534.16 6,256.14 38.0% 73.0 20,740 20,996 1.2% 39.8


Countries of

destination

Value in euro (millions) Quantity in kg (000)

EXPORTS

Main Countries of destination, per VALUE and KG (and % var. on 2018)Period: January-October 2019


58 (-41.9%)

60 (-6.1%)

61 (+2.8%)

74 (-16.3%)

128 (-2.6%)

140 (-10.9%)

379 (+0.6%)

386 (+10.9%)

397 (+3.0%)

436 (+11.2%)

445 (-14.4%)

516 (+18.8%)

556 (+4.9%)

824 (+15.2%)

3203 (+102.6%)

0 500 1000 1500 2000 2500 3000 3500

Romania

Austria

U.A.Emirates

Russia

Netherland

Spain

Germany

China

UK

Japan

Hong Kong

South Corea

USA

France

Switzerland

Top 15 leading export trading partners:VALUE (millions €) and % var. on 2018

1.1 (-13.6%)

1.1 (-3.6%)

1.1 (+5.3%)

1.2 (-25.7%)

1.2 (-25.9%)

1.3 (+11.9%)

1.3 (+186.8%)

1.7 (+4.4%)

2.0 (-9.7%)

3.0 (-2.6%)

3.2 (+4.3%)

4.0 (+11.3%)

6.2 (+8.3%)

6.8 (-5.9%)

6.8 (+8.9%)

0 1 2 3 4 5 6 7 8

Austria

Poland

China

Romania

Hong Kong

South Corea

Croatia

Japan

Netherland

Spain

UK

USA

France

Germany

Switzerland

Top 15 leading export trading partners:KG (millions) and % var. on 2018

EXPORTS

Average KG prices of the main destination CountriesPeriod: January-October 2019


2019 Export trend per quarter(% change on same period in 2018)

+25.8% +24.7%

+26.7%+26.0% +25.8%

-15

0

15

30

45

1st quarter 2nd quarter 3rd quarter October TOT 10m

VALUE

-6.0%

+4.5%+5.9%

-2.9%

+0.8%

-15

0

15

30

45


KG

951.84

471.82

403.97

370.92

358.22

340.43

324.75

297.96

251.68

211.85

190.36

189.93

162.24

139.73

132.63

123.37

118.82

72.60

65.72

56.31

56.17

48.33

46.96

0 250 500 750 1000

Macao

Switzerland

South Corea

Singapore

Hong Kong

China

Taiwan

EXTRA-EU media

Japan

Australia

U.A. Emirates

Canada

WORLD media

USA

France

UK

Russia

INTRA-EU media

Netherland

Austria

Germany

Romania

SpainEuro/KG

Average prices among the Top20 export destinations of leather goods in value (€/KG)

IMPORTS

Value

(Millions of €)

Quantity

(Millions of KG)

Average

Price €/KG

val kg a.p.

Total Imports 2,786.34 123.3 22.60 5.0% 0.7% 4.3%

of which from:

China 761.04 75.7 10.06 4.2% 6.6% -2.2%

Others 2,025.30 47.6 42.54 5.3% -7.4% 13.8%


Historical series of the first 10 months of years 2008-2019, value and quantity (KG)

ITALIAN LEATHER GOODS IMPORTS, FIRST 10 MONTHS 2019: SHARE OF CHINA ON TOTAL


1,400 1,283 1,495 1,691 1,743 1,686 1,8352,163 2,157 2,330

2,653 2,786

0

1500

3000

4500

6000

10m'08 10m'09 10m'10 10m'11 10m'12 10m'13 10m'14 10m'15 10m'16 10m'17 10m'18 10m'19

Millions of Euro

147.2

122.4128.9 132.9

101.194.5

105.5 107.4 110.1118.0 122.5 123.3

0

40

80

120

160

10m'08 10m'09 10m'10 10m'11 10m'12 10m'13 10m'14 10m'15 10m'16 10m'17 10m'18 10m'19

Millions of KG

China27.3%

Others72.7%

Value

China61.4%

Others38.6%

KG

Imports by product type and raw material Period: January-October

Value in euro (millions)


Briefcase and document holder 127.14 143.03 12.5% 27.69 30.89 11.6% 99.45 112.13 12.8%

Suitcase and travel accessories 478.07 419.82 -12.2% 50.96 52.29 2.6% 427.10 367.53 -13.9%

Bags 1,237.80 1,384.23 11.8% 749.35 815.71 8.9% 488.44 568.52 16.4%

Small leather goods 628.40 652.07 3.8% 287.81 283.48 -1.5% 340.59 368.60 8.2%

Belts 81.21 91.87 13.1% 81.21 91.87 13.1% - - -

Musical instruments case 1.54 1.25 -18.9% - - - 1.54 1.25 -18.9%

Other leather goods 99.20 94.08 -5.2% 99.20 94.08 -5.2% - - -

TOTAL IMPORTS 2,653.34 2,786.34 5.0% 1,296.22 1,368.32 5.6% 1,357.12 1,418.02 4.5%


Quantity in kg (000)


Briefcase and document holder 12,690 15,367 21.1% 604 554 -8.2% 12,086 14,813 22.6%

Suitcase and travel accessories 37,639 33,754 -10.3% 865 2,576 197.7% 36,774 31,178 -15.2%

Bags 30,134 35,128 16.6% 5,961 5,276 -11.5% 24,172 29,851 23.5%

Small leather goods 38,325 35,971 -6.1% 4,239 2,682 -36.7% 34,086 33,288 -2.3%

Belts 1,363 1,062 -22.1% 1,363 1,062 -22.1% - - -

Musical instruments case 139 128 -8.3% - - - 139 128 -8.3%

Other leather goods 2,163 1,890 -12.6% 2,163 1,890 -12.6% - - -

TOTAL IMPORTS 122,453 123,299 0.7% 15,196 14,041 -7.6% 107,257 109,258 1.9%




Briefcase and Doc. holder

5.1%

Suitcase and travel acc.

15.1%

Bags49.7%

Small leather goods23.4% Belts

3.3%

Musical instruments case

0.0%

Other leather goods3.4%

Imports by product type (value share), First 10 months 2019

leather49.1%

other50.9%

Value (share 10m2019)

leather11.4%

other88.6%

KG (share 10m2019)

Imports from the main Countries of originPeriod: January-October 2019 Ranking top 25 per value

10m2018 10m2019 % VarShare

2019 (%)10m2018 10m2019 % Var

Share

2019 (%)

1 China 730.10 761.04 4.2% 27.3 71,021 75,685 6.6% 61.4

2 France 637.90 718.43 12.6% 25.8 6,047 8,393 38.8% 6.8

3 Switzerland 238.89 316.02 32.3% 11.3 629 771 22.6% 0.6

4 Netherland 188.61 177.72 -5.8% 6.4 4,816 4,221 -12.4% 3.4

5 Germany 86.66 90.63 4.6% 3.3 5,088 4,286 -15.8% 3.5

6 Romania 107.76 87.59 -18.7% 3.1 3,668 2,585 -29.5% 2.1

7 Belgium 81.53 78.45 -3.8% 2.8 4,175 4,525 8.4% 3.7

8 India 70.83 76.34 7.8% 2.7 2,482 2,719 9.5% 2.2

9 Spain 143.79 73.48 -48.9% 2.6 10,416 2,501 -76.0% 2.0

10 Vietnam 39.65 54.95 38.6% 2.0 5,783 7,058 22.0% 5.7

11 UK 55.31 53.54 -3.2% 1.9 1,638 2,464 50.4% 2.0

12 Hong Kong 42.54 40.00 -6.0% 1.4 818 603 -26.3% 0.5

13 Tunisia 32.27 36.65 13.5% 1.3 595 765 28.7% 0.6

14 Bulgaria 40.80 32.28 -20.9% 1.2 715 600 -16.1% 0.5

15 Turkey 26.07 30.50 17.0% 1.1 383 362 -5.6% 0.3

16 Burma 5.86 22.74 288.4% 0.8 278 971 249.4% 0.8

17 Czech Republic 17.75 10.70 -39.7% 0.4 572 410 -28.3% 0.3

18 Moldova 11.59 8.79 -24.1% 0.3 142 84 -41.2% 0.1

19 USA 8.19 8.65 5.6% 0.3 80 83 4.2% 0.1

20 Indonesia 6.10 8.64 41.6% 0.3 212 476 124.0% 0.4

21 Austria 4.17 6.71 60.8% 0.2 331 360 8.8% 0.3

22 Portugal 4.13 6.41 55.1% 0.2 264 370 40.2% 0.3

23 Slovenia 5.70 6.28 10.0% 0.2 280 1,043 272.6% 0.8

24 Thailand 8.71 6.26 -28.1% 0.2 120 82 -31.1% 0.1

25 South Corea 5.17 6.06 17.3% 0.2 35 14 -60.7% 0.0…

TOTAL IMPORTS 2,653.34 2,786.34 5.0% 100.0 122,453 123,299 0.7% 100.0

of which:

from EU Countries 1,391.09 1,361.34 -2.1% 48.9 38,865 32,671 -15.9% 26.5

from EXTRA-EU Countries 1,262.25 1,425.00 12.9% 51.1 83,588 90,628 8.4% 73.5


Countries of

origin

Value in euro (millions) Quantity in kg (000)

IMPORTS

Main Countries of origin, per VALUE and KG (and % var. on 2018)Period: January-October 2019


30 (+17.0%)

32 (-20.9%)

37 (+13.5%)

40 (-6.0%)

54 (-3.2%)

55 (+38.6%)

73 (-48.9%)

76 (+7.8%)

78 (-3.8%)

88 (-18.7%)

91 (+4.6%)

178 (-5.8%)

316 (+32.3%)

718 (+12.6%)

761 (+4.2%)

0 150 300 450 600 750 900

Turkey

Bulgaria

Tunisia

Hong Kong

UK

Vietnam

Spain

India

Belgium

Romania

Germany

Netherland

Switzerland

France

China

Top 15 leading import trading partners:VALUE (millions €) and % var. on 2018

0.6 (-26.3%)

0.8 (+28.7%)

0.8 (+22.6%)

1.0 (+249.4%)

1.0 (+272.6%)

2.5 (+50.4%)

2.5 (-76.0%)

2.6 (-29.5%)

2.7 (+9.5%)

4.2 (-12.4%)

4.3 (-15.8%)

4.5 (+8.4%)

7.1 (+22.0%)

8.4 (+38.8%)

75.7 (+6.6%)

0 10 20 30 40 50 60 70 80

Hong Kong

Tunisia

Switzerland

Burma

Slovenia

UK

Spain

Romania

India

Netherland

Germany

Belgium

Vietnam

France

China

Top 15 leading import trading partners:KG (millions) and % var. on 2018

IMPORTS

Average KG prices of the main Countries of originPeriod: January-October 2019


2019 Import trend per quarter(% change on same period in 2018)

+5.3% +5.3%+4.8% +4.3% +5.0%

-15

0

15

30

45


VALUE

-3.0%

+0.2%+4.5% +1.5% +0.7%

-15

0

15

30

45


KG

409.67

105.28

103.69

85.60

84.33

66.34

53.82

47.90

42.10

41.67

33.88

29.37

28.08

26.12

23.42

22.60

21.73

21.15

18.15

17.33

15.72

10.06

7.79

0 250 500 750 1000

Switzerland

Moldova

USA

France

Turkey

Hong Kong

Bulgaria

Tunisia

Netherland

INTRA-EU media

Romania

Spain

India

Czech Republic

Burma

WORLD media

UK

Germany

Indonesia

Belgium

EXTRA-EU media

China

Vietnam

Euro/KG

Average prices among the Top20 import suppliers of leather goods in value (€/KG)

ITALIAN LEATHER GOODS COMMERCIAL EXCHANGE

HISTORICAL SERIES_RECENT YEARS (period: January-December)

LEATHER GOODS: ITALIAN EXPORTS

Value

(Millions of €)

Quantity

(Millions of KG)

Average

price €/Kg

January-December val kg a.p.

2008 3,335.28 51.1 65.31

'09 2,695.78 41.7 64.69 -19.2 -18.4 -0.9

'10 3,261.29 49.5 65.86 21.0 18.8 1.8

'11 4,276.05 50.4 84.85 31.1 1.8 28.8

'12 5,089.27 53.8 94.62 19.0 6.7 11.5

'13 5,649.32 55.5 101.82 11.0 3.2 7.6

'14 6,097.64 57.4 106.27 7.9 3.4 4.4

'15 6,466.48 59.3 109.03 6.0 3.4 2.6

'16 6,573.72 59.7 110.10 1.7 0.7 1.0

'17 7,442.15 63.5 117.22 13.2 6.3 6.5

2018 8,237.69 62.0 132.82 10.7 -2.3 13.3% change 2018 vs 2013: 45.8 11.8 30.4

% change 2018 vs 2008: 147.0 21.4 103.4

LEATHER GOODS: ITALIAN IMPORTS

Value

(Millions of €)

Quantity

(Millions of KG)

Average

price €/Kg

January-December val kg a.p.

2008 1,643.98 164.3 10.01

'09 1,496.43 139.5 10.73 -9.0 -15.1 7.2

'10 1,785.95 150.4 11.88 19.3 7.8 10.7

'11 2,009.87 151.9 13.23 12.5 1.0 11.4

'12 2,066.32 115.0 17.96 2.8 -24.3 35.7

'13 2,028.62 111.0 18.27 -1.8 -3.5 1.7

'14 2,234.75 125.0 17.88 10.2 12.6 -2.2

'15 2,584.21 124.7 20.72 15.6 -0.2 15.9

'16 2,592.76 128.9 20.12 0.3 3.3 -2.9

'17 2,801.68 138.3 20.25 8.1 7.3 0.7

2018 3,185.69 142.8 22.31 13.7 3.2 10.2% change 2018 vs 2013: 57.0 28.6 22.1

% change 2018 vs 2008: 93.8 -13.1 123.0

TRADE BALANCE

January-December

Value

(Millions of €)

% Var. on

previous year

2016 3,980.96

2017 4,640.47 16.6

2018 5,052.00 8.9




DOMESTIC MARKET

Italian household purchasesPeriod: January-December 2019

Quantity

(000)

Value

(000 €)

Average

price €

Quantity

(000)

Value

(000 €)

Average

price €Qty Value A.P.

BELTS 5,731 120,328 20.99 5,415 115,712 21.37 -5.5% -3.8% 1.8%

BAGS 16,171 868,497 53.71 15,263 835,925 54.77 -5.6% -3.8% 2.0%

SUITCASES 1,771 114,865 64.85 1,843 125,084 67.88 4.0% 8.9% 4.7%

BACKPACKS 2,804 98,744 35.21 2,981 105,653 35.44 6.3% 7.0% 0.6%

DUFFLE BAGS (TRAVEL/SPORTS) 1,610 62,335 38.72 1,595 63,878 40.04 -0.9% 2.5% 3.4%

BRIEFCASE & WORK BAGS 1,390 103,961 74.77 1,412 93,789 66.41 1.6% -9.8% -11.2%

WALLETS 3,298 112,381 34.07 3,230 111,822 34.62 -2.1% -0.5% 1.6%

SMALL LEATHER GOODS 5,807 89,681 15.44 5,824 92,070 15.81 0.3% 2.7% 2.4%

TOTAL LEATHER GOODS 38,584 1,570,792 40.71 37,564 1,543,933 41.10 -2.6% -1.7% 1.0%

UMBRELLAS 4,416 53,900 12.20 4,183 51,125 12.22 -5.3% -5.1% 0.1%

TOT LEATHER GOODS + UMBRELLAS 43,000 1,624,693 37.78 41,747 1,595,058 38.21 -2.9% -1.8% 1.1%

Source: Sita Ricerca - Fashion Consumer Panel service for Assopellettieri

Quantity expressed in thousands of pieces. Retail expenditure in thousands of euros.

PRODUCTS

Year 2018 Year 2019 % Var

Belts7.5%

Bags54.1%

Suitcases8.1%

Backpacks6.8%

Duffle bags4.1%

Briefcase/Work bags6.1%

Wallets7.2%

Small leather goods6.0%

Italian household purchases by product type (expenditure share)Year 2019

Documents

The Italian leather goods industry 2019 Preliminary Results · The imported leather products KG. decreased by -7.6%; the quantity of goods made of other material (largely majority,