The Italian leather and fashion accessories’ industry, amid duties, obstacles and declining markets, face a downturn, but show surprising resilience. According to data released by Confindustria Accessori Moda, 2024 ended with a turnover of 30 billion euro, down 8.6% from the previous year. The negative trend continues in the first half of 2025, with a decline of 5.3%. Despite the difficulties, the sector is focusing on internationalization and training programs, as strategic levers for the revival of Made in Italy.
Duties, obstacles and declining markets
Exports in the first five months of 2025 were down 4.8%, with a turnover of 10.2 billion euro. However, the April-May two-month period showed a smaller contraction (-3.4%), potentially signifying a sign of stabilization. Sales to the European Union remained stable (-0.2%), with contrasting dynamics: France down (-4.3%), Germany up (+7.9%). Outside the EU, strong contractions were shown in Asian markets, particularly China (-26.7%), Japan (-10.9%) and South Korea (-14.4%). In contrast, the United Arab Emirates (+33.8%) and Turkey (+13.6%) show encouraging signs.
The centrality of the U.S.
The U.S. market continues to remain crucial, but the Trump administration’s introduction of 15% tariffs risks undermining the competitiveness of Italian companies. Despite this, exports to the U.S. grew by 1.4% between January and May 2025, with a peak of +15% in June, probably related to earlier shipments. The first half of the year ends with an estimated 3.5% growth, but the real effects of duties will only be measurable in the following months.
Employment and training
The decline in production has affected employment. As of June 2025, employment levels fell below 140,000 (-2.3% compared to December 2024), while active firms decreased by about 200 (-2%). The use of social safety nets remains high, with 20.3 million hours of layoffs in the first half of the year, up 12.8% from 2024. “The data gives us a complex picture, with critical issues that characterized both the close of 2024 and the first part of 2025.
There are many challenges: from the slowdown in global demand to the weakness of some Asian markets, and again the introduction of a 15% duty by the United States, which risks penalizing Italian exports in a key market”, Giovanna Ceolini, President of Confindustria Accessori Moda, stresses in the press release, adding how training is a pivotal pillar. “It’s fundamental today to bring young people closer to the world of business with adequate and specific tools to encourage a first contact with work, so that they acquire the necessary skills to build the future of Made in Italy”.
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