The downturn in Italy’s menswear sector continued into the first two months of 2026. According to the latest report by Confindustria Moda’s Economic and Statistical Research Office, in the first two months of 2026 Italian menswear recorded declines in both exports, which dropped by 2.9%, and imports, down by 8.3%.
Marked decline in imports in the first two months of 2026
In the first two months of 2026, Italian menswear saw a contraction in foreign trade: exports fell by 2.9% (€1.6 billion) and imports dropped more sharply by 8.3% (€1.1 billion). Exports fell both to the EU (-1.5%) and to non-EU markets (-4.1%), though the latter still represented the main outlet, absorbing 52.4% of the total. France remained the top destination (€201 million, -0.3%), followed by the US (-7.2%), Germany (-8.5%), and China (-4.6%), while Spain was a rare positive exception (+2.1%). Among other markets, the United Arab Emirates (+17.2%), Poland (+7.1%), and Hong Kong (+6.8%) stood out, set against a steep drop in South Korea (-26.7%).
On the import side for the two-month period, both the EU (-9.1%) and non-EU (-7.6%) areas posted declines, with the latter accounting for the majority share at 56.9%. Bangladesh remained Italy’s leading supplier (€154 million) despite an 11.2% fall, followed by China (-7.8%) and Spain (-2.2%). Among other trading partners, the picture was predominantly negative, with sharp falls for Belgium (-42.1%), Turkey (-25.5%), and Romania (-18.5%), while only imports from Myanmar (+6.5%) and Albania (+3.0%) moved against the trend.
A breakdown by product category reveals a broad-based downturn, with leather apparel the only segment growing in both exports (+15.0%) and imports (+12.2%). In exports, the sharpest declines hit ties (-5.3%), shirts (-3.9%), and tailored clothing (-3.6%). On the import side, the downturn was even steeper, led by shirts (-13.7%) and outer knitwear (-12.2%), followed by outerwear and ties (both -4.2%).
The negative signals from foreign trade are partially offset by the domestic market, where sell-out in Italy rose by 3.9% over the two-month period, driven by ties (+20.8%), leather apparel (+5.7%) and knitwear (+5.4%). This domestic momentum is reflected in a moderately positive business sentiment for the first half of 2026, with 42% of surveyed companies expecting revenue growth; the outlook becomes more cautious for the full year, with 58% of industry operators anticipating a stable year-end.
For 2025 as a whole, Italian men’s fashion declined by 2.2%
Italian men’s fashion, on the other hand, ended 2025 with revenue of approximately €11.2 billion, down 2.2% on 2024. The value of production also fell by 2.1%. Among the individual segments, the only one bucking the trend was leather apparel (+4.9%), while all other sectors declined: outerwear (which remains the mainstay, accounting for 52.9% of revenue) was down 1.6%, knitwear 3.0%, ties 2.8%, and shirts recorded the weakest performance at -4.5%.
In terms of foreign trade, exports accounted for 77.8% of total menswear revenue, though they contracted by 1.7% to approximately €8.7 billion. Conversely, imports returned to growth, rising by 1.8% to €5.4 billion. Based on these dynamics, the trade balance remained positive, closing the year with a surplus of €3.3 billion, although smaller than in 2024.
Domestic demand weakened: in 2025, Italian household consumption fell by 2.3%, led by outerwear (56% of sell-out) and knitwear (26.3%). Seasonally, Spring/Summer 2025 declined by 2.0% due to widespread losses, most notably in leather apparel (-6.1%). Autumn/Winter 2025–26 limited losses to 0.6%, thanks to a recovery in leather apparel (+5.6%), ties (+2.3%) and knitwear (+0.8%), set against declines in shirts (-2.5%) and outerwear (-0.9%).
Finally, in the analysis of distribution channels (March 2025–February 2026), chains/franchises retained the lead (47.1% of the market) despite a 0.9% decline, while large-scale retail (GDO) fell 5.1% (hit hard by the food segment, down 20.4%). Strongly counter-trend, e-commerce rose 7.3% to an 8.8% share, as did independent retailers (+2.3%) and outlet stores (+11.5%). Street vendors, by contrast, plunged 31.5%, reducing their market share to 1.6%.
2025 exports slow
Italian menswear closed the January-December 2025 period with exports of €9.4 billion, down 1.7% on 2024, while imports rose to €6.6 billion (+2%). Geographically, sales held up in the EU (+3%) but declined outside the EU (-5.7%). Among key markets, France remained in first place (€1.3 billion, +3.5%), followed by the US (+3.5%) and Germany, which fell (-4.6%); sharp declines were recorded in China (-13.1%) and South Korea (-18.7%), while Switzerland saw a steep drop as a logistics hub (-14.1%) and Poland surged (+21.2%).
As for products, exports of outerwear held steady (+1%) and leather apparel accelerated (+9.1%), while knitwear (-4.6%), shirts (-3%), and ties (-0.2%) weakened. On the sourcing side, China remained Italy’s leading supplier (+9.9% and a 12.9% share), followed by Bangladesh (+8.2% and a 12% share), within a generally positive picture for imports by product category, except for declines in shirts and ties.
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