Anfao: first-half 2005 results allow cautious optimism
According to Anfao data, in the first half of 2005 (January-June), the Italian eyewear sector scored encouraging results compared to both the same period in 2004, and the first half of 2003.
Exports added up to 859m euros, +9% from the first half of 2004 (+12% vs. 2003), a strong result driven by the excellent performance of the sunwear segment (+16%), whose exports in the half were worth 574m euros, as opposed to a slight contraction in the exports of frames (-0,9%).
The main target markets for Italian exports were Europe, which accounted for 51% of the total, followed by America with a 31% share, and Asia, 13%. In Europe, demand was strongest for sunglasses, on the rise by 12% from the previous year, offset in part by an 8% decline in frames. On the whole, net export growth was 4%.
Performance was strong on the American market in general, and in the United States in particular, which alone accounted for 28% of Italian exports: in the first half of 2005, frames and sunglasses achieved 19% growth in the US. Undoubtedly an important result, especially when compared to other, similar segments of the 'Made in Italy' sector, which are still struggling on this specific market. Encouraging indications also came from the Asian market, where exports grew by 21% in the sunglasses segment, while frames only achieved a lackluster performance. Other regions which showed promise were: Australia (frames +46%, sunglasses +18%), Japan (frames +20%, sunglasses +2%) and, albeit with limited volumes, Russia, where total growth was +27%, China (frames +49%, sunglasses +90%) and India (frames +50%, sunglasses +63%).
Imports, on the other hand, remained virtually flat from the first half of 2004, adding up to 224m euros. However, the share of eyewear imported from Asia, currently 67% of the total, marked a further significant increase, while imports from European countries were much more limited, and accounted for 30% of the total.
The I-Style aggregate as a whole, i.e. the main sectors which make up the Italian fashion/accessory industry, achieved a slight growth in exports in the first half of 2005 compared to the same period in 2004. More in detail, certain segments performed better than others, although at times with significant discrepancies among individual segments, with exports generally on the rise nonetheless: cosmetics/fragrances +11%, jewellery +10%, eyewear +9%, leather goods and clothing +7%.
As opposed to the global trend, total I-style exports to the US contracted by 3%. The performance levels of individual sectors were especially varied in the United States, and extremely positive trends in eyewear, cosmetics, fabrics and clothing failed to offset the decline in shoes (-18%), leather goods (-12%), and jewellery (-2%).
