In Italy, 17,000 fashion stores have closed in 4 years

According to Federazione Moda Italia, in a statement published by MF Fashion, an association within Confcommercio that represents Italian fashion retailers, the outlook for the sector doesn't promise anything good. According to the latest analysis by the Federation, the Italian retail fashion industry has taken a hard hit. A very high number of 16,863 fashion stores have closed down in the last four years, an average of eleven stores per day, leaving over 13,000 employees without jobs. The situation is exacerbated not only by the pandemic but also by a steep increase in e-commerce. Giulio Felloni, president of the federation, emphasizes a deterioration already underway for a decade, with around 70,000 closed retail outlets and a net negative balance of -34,219 stores.

According to further analysis, sales show no signs of recovery, with significant declines during sale periods and even in the subsequent months. Statistics speak clearly: -2.7% in 2023 and consistent decreases in the first months of the new year, around -4.5% in January, -4.6% in February, and -3.1% in March compared to the same months of the previous year. The impact of these closures is reflected not only in job losses but also in the impoverishment of urban commercial fabric, where vacant shops often give way to mono-brand chains or franchised activities. The sector is thus facing a structural consumption problem, with an average expenditure per household of less than a hundred euros per month on clothing. Felloni points out how the boom in global fashion production, increased by 200% from 2000 to today, does not correspond to an increase in consumption of quality products in Italy, a well-known producer of such goods.

In the face of this crisis, the federation's president calls for urgent government interventions, similar to those adopted for other sectors such as furniture. These measures include reducing VAT on clothing and accessories, tax incentives for leases, and fair regulation that puts e-commerce and physical stores on an equal fiscal footing. Criticism is also directed towards e-commerce giants, often based abroad, which enjoy significantly lower taxation than stores on national soil, further exacerbating inequality in the sector. The current situation is critical, and Felloni's proposals aim to revitalize a key sector of the Italian economy, not only to preserve jobs but also to keep alive the tradition of Made in Italy in the fashion world.