Fashion industry body La Camera Nazionale Della Moda Italiana (CNMI) has revealed that Italy’s fashion brands are on course to achieve revenues of €96.6 billion in 2022, writes Leatherbiz.

CNMI president, Carlo Capasa, quoted the figure during a press conference in Milan promoting the next men’s fashion week event there in January.

Mr Capasa explained that this figure would represent growth of 16% compared to 2021 and would be the highest turnover Italy’s fashion industry had achieved in the last 20 years.
He warned that the current business environment makes predictions for 2023 impossible. “Dramatic events have occurred this year too,” the CNMI president said, “but we are closing 2022 on a positive note.”

Exports for 2022 will reach €80 billion, CNMI continued, with the growth of 19% year on year. France remains the biggest market by value for made-in-Italy fashion brands, with growth for the year of 23.8%. This is followed by Germany, China, South Korea and Japan, all showing double-digit growth.

The industry body said the US had proved to be a particularly dynamic market for Italian brands in 2022, with growth in the first nine months of the year of 54%. It also pointed to substantial growth in exports to the United Arab Emirates and to Turkey and said a likely explanation was the importance these countries now have as shopping destinations for wealthy Russian consumers.