20Q1 Italy Textile Fashion Industry Lost More Than 3 Billion 500 Million, And Chinese Businessmen Are Cautious About Resuming Work Under The Epidemic Situation.

The latest research report of Italy Fashion Industry Federation (Confindustria Moda) shows that the income loss of Italy textile and fashion industry exceeds 3 billion 500 million euros, and the total sales volume of the whole year is reduced by 9 billion euros.

Most of the textile and fashion industries are mainly located in Lombard district and piemonde, which are just the worst hit areas. Since the blockade period in Italy in March 9th, 76% of the industries have been closed down. 24% of the industry has tried to transform and produce related medical and epidemic prevention items, including administrative, e-commerce, logistics and other departments.

The Italy Fashion Industry Federation concluded that the 2020 epidemic caused an average annual loss of the textile and fashion industry in Italy. Thirty-six point two % of revenue, loss of Forty point five % of regular orders.

In the first quarter of January to March, 51% of the enterprises lost 20% to 50% of their revenues, and 20% of them lost more than 50% of their income.

Footwear business, 36% of enterprises have lost more than 50% orders, 45% enterprises are expected to lose 20% to 50% orders.

In leather goods business, 38% of the enterprises lost 50% of the order, while the order loss of 44% enterprises was between 20%-50%.

Fur business, 36% of the enterprises lost 50% of the order, while the order loss of 50% enterprises was between 20-50%.

Since January 31st, Italy has implemented a 6 month emergency to cope with the epidemic. Since March 10th, it has entered the national "closed city" state until May 3rd. From May 4th, it entered the "second stage" of the epidemic and the resumption of economic parallel. Most stores could resume work in May 18th.

The Chinese community in southern Italy has a more cautious attitude towards the resumption of work under the new crown pneumonia epidemic. They have not yet decided whether to resume their business in May 18th. Chinese businessmen said that in May 18th, a joint assessment would be made based on the new crown epidemic situation in Italy, which will resume business only if the number of infected persons continues to decline.

According to foreign media reports, these Chinese businesses have already taken the lead in closing the ban before the Italy national ban. At that time, there was no infection in southern Italy. And now they are probably the last batch of people to reopen their businesses.

Source: WWD, laconceria, China overseas network