Italian eyewear to exceed 4 billion euros

Italian eyewear is on the road to recovery thanks to the drive and stability of exports. However, caution remains high due to the international scenario linked to the energy crisis and the Russian-Ukrainian conflict. «2021 performed beyond expectations. In 12 months, we recovered 26% of the export lost in the first year of the pandemic. The domestic market also repositioned itself on the same values as in 2019. I can therefore say that the +37% trend of cross-border sales in the first 9 months will be recorded for the entire year, with a value of production at 4 billion euros, in line with pre-Covid-19 figures. Exports will be able to continue their growth in 2022 with a +4-5%, slowed down by a negative January due to the Omicron variant», Giovanni Vitaloni, president of Mido and Associazione nazionale fabbricanti articoli ottici (Anfao), revealed to MFF.

«Exports are always very reactive to any international phenomenon and what is happening now in the world requires us, while being optimistic, not to take this result as an overall overcoming of the problem. The Russian-Ukrainian crisis throws further uncertainty on top of what Covid-19 has already left us with: on a general level, Russia is not a core market, it weighs less than 1% for both frames and sunglasses. However, we will have the biggest backlash in terms of a decrease in purchases by Russians in Europe and Italy», the President pointed out.

«There could also be consequences for the increase in the cost of energy, being a manufacturing sector. In this regard, the measures that the government will be able to take in this direction will be important. We also need to make sure that the increase in costs is not transferred to the final consumer, since we would put the recovery at risk». The most dynamic areas in terms of eyewear are currently the US and Canada, while in Europe, France, Germany and Great Britain are. Giovanni Vitaloni has also highlighted the other issues related to a still struggling supply chain. «The increase in raw material costs leads to longer delivery times, while poor mobility has also impacted some European countries. Moreover, MIDO was postponed. On the other hand, there is still demand and there has been a return of buyers to Italian eyewear manufacturers, as well as a reshoring phenomenon from Asia to Italy», he explained.

«This generated optimism. In addition, employment was not lost in 2021 and a slight growth is expected this year, driven by the latest operations of the eyewear giants, from EssilorLuxottica and GrandVision to Thélios and Marcolin (see MFF of December 11, 2021). Some big players may want to acquire». Everyone is thus looking forward to Mido. The eyewear fair, which will be held from April 30 to May 2 at Rho Fiera Milano, will present 630 exhibiting companies from 45 countries —compared to about 1,300 that included Asian companies. 

«The fair will give a boost to the industry, with many brands not having seen companies directly for almost three years. The postponement has also been well received by visitors, with signs of the buyers’ attendance all over the world and we are working with Italian trade agency (Ice) for an incoming project», Vitaloni added. «Compared to 2020, there have been behavioural changes related to Covid-19. There is no longer room for the superfluous, there is more concreteness in terms of products with a longer life, research and sustainability, a trend favouring our Made-in-Italy», he concluded. (All rights reserved)