Italian textile companies working in the fashion and accessory space have come together to form a federation called ‘Confindustria Moda’. The federation represents more than 67,000 companies, having a turnover of more than 88 billion euro and employing more than 5,80,000 workers. It includes leather manufacturers, footwear manufacturers, jewelry manufacturers, optical manufacturers and tanners.
The associations will continue to maintain operational autonomy with regard to vertical and specific themes for each sector (for example, shows and exhibitions), whereas, for the moment, Confindustria Moda will provide transversal services such as legal advice, industrial relations management and a development office.
Confindustria Moda will allow what was previously a highly fragmented galaxy of manufacturers to speak with a common voice, gaining influence and visibility. It will battle counterfeiting and affirm points of view on distribution and industrial relations.
Italian products of the textile and apparel industry are known worldwide. This sector has attracted a great deal of attention because it is rare for a wealthy and developed country to specialize heavily in fashion-oriented as well as semi-customized industrial products and to base its production system on small and very small companies. Fashion companies in Italy keep the stock market at arm’s length — especially since they are able to finance themselves through their operations.