Industry revenue of »retail sale of footwear and leather goods« in Italy 2011-2023

The retail sales of footwear in Italy demonstrated marginal growth between 2011 and 2016 following a few years of adverse market conditions due to an economic slowdown in the European region. According to estimates by Statista based on data from Eurostat, the next few years are expected to witness sustained growth with revenues reaching a value of 10,464 million U.S. Dollars by 2023.

The decline in retail stores

Although the last few years witnessed a growth in the retail market for footwear and leather goods, a decline in number of retailers of footwear and leather goods in specialized stores is of concern for the industry. Between 2015 and 2016, around 330 retail stores selling footwear and leather goods in Italy closed their operations. Considering the increase in the share of people who purchased footwear online, this decline does not come as a surprise. Among all the Italian retailers in the segment, Goex with 304 retail outlets was the largest footwear and leather retail company in 2018 in terms of the number of stores.

Demand for luxury footwear is on the rise

Demand for luxury footwear has been on the rise over the last few years, with the market accounting for around one sixth of the total household spending on footwear in 2018. The country also stands at fourth position in terms of global expenditure on luxury footwear which is led by the U.S. with an estimated market volume of 7,122 U.S. dollar million in 2019. TOD’S is expected to lead the market in 2019, with its products estimated to account for 20% of the total luxury footwear market in the country.

Industry revenue of »retail sale of footwear and leather goods« in Italy from 2011 to 2023

Revenue in million U.S. Dollars
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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Italy. The industry “retail sale of footwear and leather goods in specialised stores“ has the code “G4772“.

Details on the methodology can be found here.

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