"The fashion sector, despite a slowdown, continues to be a driving force for Italian exports. In 2023, the sector's exports closed at over €88 billion euros and from January to August 2024 will be around €55 billion euros, a value in line with the same period in 2023. The latest forecasts, despite the phase of uncertainty, speak of €90 billion euros of exports by the end of 2024 (+1.1% compared to 2023). In this context, the €5.5 billion euros of menswear, up 2.7% from January to July 2024, is particularly significant. Both EU and non-EU areas proved favorable for the menswear segment, growing +1.5% and +3.8% respectively. The EU market covers 45.2% of total exports, while non-EU is the largest "buyer", absorbing 54.8%. Numbers that should be interpreted with respect to the fashion industry's prospects, which are worrying, given that there is a mismatch between market demand and warehouse availability that is critically slowing down production". These were the words of ICE President Matteo Zoppas, speaking at the press conference presenting the Milan Fashion Week Men's Collection Fall/Winter 2025-2026. "It needs to be understood," he adds, "whether this is a structural or temporary phenomenon, but the latest estimates speak of a year-end in line with 2023, trending positive. The whole Country System in the wake of Antonio Tajani's growth diplomacy is teaming up, and the Ministry of Made in Italy has opened working tables to address issues related to fashion's criticalities. ICE continues to recognize the fashion sector’s strategic role, renewing its commitment to supporting initiatives, especially those that give development to the market. At Milan Fashion Week, thanks also to the Agency's contribution, more than 1,800 accredited buyers and journalists and 103,000 people participated in the women's fashion shows in 2024 alone, including 45,000 from abroad”.
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