Towards VSFF 2024. On October 24-25 in Venice, the third edition of the Venice Sustainable Fashion Forum, the international summit dedicated to the sustainable transition of the fashion supply chain and its evolution towards 2030, will take place.
Padua-Treviso-Venice-Rovigo – October 18, 2024 – The Veneto fashion industry is slowing down under the weight of geopolitical instability, declining consumption (including luxury goods), inflation, and rising interest rates. In the first six months of 2024, the key sectors of the industry—Textiles, Apparel, Footwear, and Leather Goods (excluding Accessories)—saw a 7.6% decrease in exports at current prices compared to the same period in 2023, a decline slightly higher than the national average (-5.3%). Nevertheless, the export levels remain high, with values exceeding €5.5 billion for the semester, representing 17.7% of the national sector’s exports. Imports also declined (-16.8%), confirming a slowdown in the domestic market, although the trade balance remains positive, with a surplus of €2.3 billion.
Germany and the United States, which saw a surge in sales in 2022, experienced an even sharper slowdown in the first half of 2024 (-15.8% and -18.4%, respectively), only partially offset by growth in Poland (+18.2%), Croatia (+15.8%), and markets in East Asia (Hong Kong, Vietnam, and Taiwan) and the Middle East (United Arab Emirates). France remains the leading market, with €1.056 billion in exports (+0.9%). However, there were double-digit declines in exports to the United Kingdom, Switzerland (a logistics hub for luxury groups), and the Netherlands.
Despite this predictable slowdown, the Textile, Fashion, Footwear, and Leather Goods sectors remain key components of Made in Italy, with Veneto playing a strategic role in high-quality manufacturing. The region is home to 9,387 local units, representing 10.7% of the entire national sector, and employs 70,078 people (14.8% of the Italian total). This is an industry facing global challenges, now called upon to adopt new strategies for sustainable growth, which the European market is increasingly demanding and which already has direct impacts on competitiveness, production, revenue, and consumer behavior.
These are the key topics of the third edition of the Venice Sustainable Fashion Forum (“Leading Re-Generation”), the international summit focused on the sustainable transition of the fashion industry and its projected pathways to 2030. Organized by Confindustria Veneto Est, Sistema Moda Italia (SMI), and The European House – Ambrosetti, the event will be held at the Fondazione Giorgio Cini (Isola di San Giorgio) in Venice on October 24 and 25.
Italian fashion is unique in the world, and the Veneto supply chain is an outstanding combination of creativity and manufacturing excellence, characterized by a rich textile tradition, innovation, quality, and craftsmanship, – said Roberto Bottoli, President of the Fashion System Group of Confindustria Veneto Est. Preserving the entire supply chain, its connection to the territories, and the competitiveness of the manufacturing sector is crucial. In this context, the sustainable transition is no longer an option for the fashion industry, but a necessary path for growth. It must, however, be supported by a more pragmatic and gradual approach within the EU regulatory framework, avoiding excessive bureaucracy that could threaten the sector. Adequate incentives for investments across the entire supply chain are also essential to ensure that the transition is both economically and socially sustainable. Along with the new mandates imposed on European companies, we must also strengthen controls on imports from regions that do not adhere to the same principles, to avoid further losses in competitiveness. This will be one of the key demands raised at the Forum in Venice.
Despite the challenging moment the Fashion and Footwear sectors are facing, – commented Daniele Salmaso, President of the Footwear Group of Confindustria Veneto Est, with the slowdown in key luxury footwear markets, including China, and ongoing geopolitical uncertainties, the Veneto footwear industry remains a national leader, accounting for 23.4% of Italy’s exports. Companies are striving to adopt comprehensive sustainability strategies, focusing on internal processes, production, and supply chain traceability as required by the market and the EU. However, to achieve this, the entire supply chain, from large brands to SMEs, which are the most vulnerable due to their low margins, needs support. We also need new professional skills, with high-level training that reflects these challenges, to lead us into the new era. The Forum will make Venice the center of international dialogue on these priorities.
