Annual Mediobanca Fashion Industry health study

Fashion_study

Mediobanca R&S department has presented, on the occasion of Milano Moda Donna fashion week, its annual study dedicated to the companies of the Italian fashion and their profitability.

In addition to the annual assessment of fashion leading groups financial situation and to customers consumption habits, this year study seeks to explain why the most famous brands of Italian fashion lately have been acquired by foreign giants, and that – among the brands that remain independent – looms ever often the possibility of a merge or acquisition by foreign companies.

According to the survey, the motivation lays in the good health level benefited by Italian fashion companies that – despite their limited size – have been able to maintain an optimal ratio between debt and equity.
Think about the fact that the 15 largest brands of Italian fashion are worth two percentage points of the Italian GDP, and if we consider the total market category, fashion reaches 4 percentage points of GDP, with the value of around 63 billion euro.

Mediobanca has considered 140 realities of Italian fashion by studying their financial situation, hihglighting that about 35% of them have been subjected to acquisitions by foreign groups, whether private funds or industrial groups operating in the same sector. Among the most recent and profitable, for instance has to be included the merge between Essilor and Luxottica.

Fashion sector keeps to show growing data: sales go up positively by registering +9.4% in 2016 and they keep the pace mainly thanks to exports that is worth almost 60%. Nevertheless it becomes evident that the profitability is slightly falling – data have to be confirmed by 2016 closure months, however fashion operating income remains above average compared with ones recorded by other Italian industries.

To sum up, what are today the stars of Italian fashion?
Valentino, which has been able to reinvent itself while remaining independent, recorded the fastest growth rate;
Moncler has maintained the best profitability despite the scandal it had been invested in the past
Luxottica, which holds the best records in terms of sales
but also Ferragamo, Prada and Armani which remain firmly among the 15 leading fashion groups, with financial indicators still growing.

Full Mediobanca R&S study could be downloaded here

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