Despite the cooling-off of markets, especially the Chinese one, highlighted by many forecasts, in particular for the luxury bracket, the figures related to exports of leather goods for the first quarter of 2015 indicate robust growth rates for demand (+10.2% and sales of Euro 1.6 billion).
China’s recent stock market turmoil had a temporary impact on Piazza Affari’s stock prices, specifically those of the luxury segment. Accordingly, a trend reversal is probable, including in demand which, however, remained robust until the end of March (exports to the Chinese market rose 40%).
Export average prices rose 10.7%; in particular, the 30% increase in women bags’ export average prices confirms the strong presence of high-end and luxury products in the sales mix.
Exported volumes decreased slightly (-0.7%).
The first quarter of 2015 confirms some of the growth trends already seen in 2014 actual figures; in particular, in the US, sales rose 24%; all Asian markets recorded positive results: in China, the growth rate exceed 40%, followed by Saudi Arabia (+39.5%), Singapore (+36%), Taiwan (+26%), Hong Kong (+13.8%), South Korea (+13%), United Arab Emirates (+7%) and Japan, which recorded a slight increase (+1.2%).
With respect to extra-European markets, Canada (+51%), Australia (+ 39%) and Brazil (+23%) performed excellently. In Europe, Spain is the highest performing market, with sales up 10%, followed by the United Kingdom (+8.9%) andGreece (+8,9%).
Switzerland and the Netherlands deserve separate mention. The significant increase in growth rates (+16% and +35%, respectively) is also attributable to their role of “logistics platforms” for the collection and sorting of goods with preferential taxation and customs procedures.
Conversely, exports fell considerably in Russia (-29%) and Ukraine (-43%).
During the period, imports rose 30% and mainly fuel a weak domestic market which is inclined to purchase low-cost products.
Import average prices are below Euro 18, while those for women bags amount to Euro 27, down to Euro 15 for synthetic leather bags.
Imports from China returned to increase (+35%). China remains the leading supplier, while Slovenia, which recorded a 124% rise in terms of value, consolidated its role as production outsourcing market leader for many companies and groups that relocate outside Italy.
Domestic consumption declined again in the first five months of year, especially in terms of value (-4.5%), following the decrease in the average prices of suitcases and, more in general, travel goods.
Italian households purchased leather goods worth Euro 651 million, with an average price of Euro 38.31, slightly down on 2014.
Over half the purchases refer to women bags with sales down 8.3%, volumes down 5.6% and average prices down 3%.
Despite a moderately higher negative inclination, the sector trend is substantially in line with that for the other segments of the textile-clothing sector, all of which show negative trends.Read more