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Fashion industry sees recovery in 2014

2.1% gain forecast in first half

12 December, 19:11
Fashion industry sees recovery in 2014 (ANSA) - Milan, December 12 - Italy's fashion and textile firms expect a 2.1% gain in turnover in the first six months of next year, the Italy Fashion System (SMI) organisation said Thursday.

Turnover fell 1.9% to 50.1 million euros in 2013, SMI said.

The expected pick-up will not mean more jobs, SMI said.

Employment will fall by 1.6% in the first half of 2014 after a 2.2% drop this year that brought employee numbers down to 414,000.

Some 500 firms closed down in 2013, a 1% fall that left 49,539 companies in business.