Export to Italy
The strengths of the fashion and design market for those exporting to Italy
(Source UBiFrance Fashion Design Milan 2 May 2011)
The Italian consumer is culturally aesthete:
-Italians are the European leaders in terms of budget spent on items linked to their appearance: €2300/year, of which €1194/year is spent on clothing or accessories.
-Italians are increasingly attentive to the ethical and environmental aspect of products (organic, fair trade).
The Italian fashion market has heightened its economic upturn (+4.6% of sales in 2010):
Italian operators have adopting paying strategies to soften the blow and to recover more quickly from the crisis. Specialist companies or companies positioned on the niche or luxury markets as well as the main Italian and foreign groups noted satisfying results in 2010 in terms of turnover, profitability and profit.
The average to high-end household items market segment continues to grow:
-The Italian interior design market went into steady growth following a slump in 2009.
-Paying attention to designing and researching an innovative style is now a nonnegotiable criterion for a clientele which is increasingly demanding and very attentive to aesthetics, even if the brand remains an important aspect
The structure of fashion distribution in Italy
The breakdown of the fashion circuit in 2009, in percentages, is as follows (Source: Eurostat MFI day ‘the fashion consumer'):
• Independents 34%, Chains 36%, Sports shops 6%, Department Stores 4%, Variety stores 4%, Hyper/Supermarkets 4%, Markets 8%, Other circuits 5%. It should be noted that the proportion of independents is higher than the European average, which enables a manufacturing industry which has disappeared in other European countries to be maintained (Japanese model 1980s). Clients who export in Italy must also know that the proportion of independents has been caused to be reduced heavily with the recent modification of commercial property law which favours the setting up of chains over them.
Useful information on the Fashion Market in Italy
The precautionary measures for B to B debts for those exporting in Italy
The management of accounts receivables is also done with our credit insurance policy and with our online platform set-up for our clients.
In Italy, it is usual to invite the debtor by way of a formal notice (costituzione di mora, article 1219-1 of the Italian Civil Code (Source: Guide Pratique du Recouvrement de créances by Martine Dickstein).
For precautionary measures, namely the retention of title (article 1523 Italian Civil Code), seizing movable or immovable assets from the debtor or his bank accounts on the request of the judge.
The Italian justice system has a reputation for being long and it would be best to consult our debt recovery department before starting in Italy. In particular, our clients who export in Italy can use cheques which are becoming the accepted draft (exchange-rate), a certificate to be used.
Useful information on debt recovery in Italy: Download an extract of Atradius Collections 2011