The Italian fashion accessory industry is facing a significant downturn in 2024, with sales projected to decline by 8.1 percent compared to 2023, reaching 30.1 billion euros. This contraction is attributed to a slowdown in key markets like China and a challenging economic environment. The industry also experienced job losses, with around 4,800 positions lost in the first nine months of the year. Confindustria Accessori Moda, the Italian association representing the industry, reported an 8.
5 percent drop in exports to 16.7 billion euros. While exports to Germany and China declined, sales to the United Arab Emirates soared by 37.8 percent. The industry is seeking government support to navigate these difficult times and anticipates a potential recovery in the future