Italian eyewear consolidates leadership on international markets

Further increases in exports: +10.3% for a value of over 1,634 million Italian eyewear continues to spearhead international markets thanks to the constant growth of exports.   Published by ANFAO for the first six months of 2014, the figures show that the total export value is about 1,635 million euros (1,481 million during the same period in 2013 and 1,406 million in 2012), an increase of 10.3% compared to 2013 and 16.2% against 2012.   An all-time record was made in 2013 when the export value of eyewear stood at 2,811 million. The figures for the first six months and the continued positive trend, give reasonable hope for a new record of 3,000 million at end 2014.   "For some time now, the increase in exports has been the key to our success. We were immediately able to take advantage of the recovery of international markets and even the slightest opportunities for growth in emerging markets. Always highly international (we export over 80% of our products)," - commented Cirillo Marcolin, President of ANFAO – "the sector is one of the major contributors to Made in Italy's commercial balance sheet."   As to the I-Style sectors, it should be underscored that total I-style exports grew an average of 4.8%, with eyewear performance decidedly above the norm. A result that testifies to a greater propensity for exporting and an ability to diversify on international markets.   In detail, exports of sunglasses saw two-figure growth of 10.9% and a value of about 1,110 million. Optical frames stood at +8.7% and a total value of over 491 million euros.   EXPORTS BY GEOGRAPHICAL AREA   The reference areas with the greatest appreciation of the creativity and quality of Made in Italy eyewear are primarily Europe, which absorbs 52.5% of exports and grew by a total of 13.3% in the January-June 2014 period, followed by America, which has a share of about 26.8% and growth of 2.7% compared with the same period 2013. The Asian market continues to perform well with 17.7% of exports; here, the variation in the trend for the first six months of 2014 rose compared to the trend in 2013 (which closed with an unexceptional +2.7%); the total was close to +14% (14.2% for frames, 13.9% for sunglasses).   2014 promises to be the year of improved consolidation in the sector's two major reference areas – Europe and America - which absorb almost 80% of the sector's exports.   A detailed analysis by country:   There was confirmation of the key role played by the United States, the first reference country with a 21.7% share of Italian eyewear exports, even though the +5.2% variation in growth (+6.7% sunglasses, +0.9% frames) in the first six months of 2014 was lower than the previous year's increase (over 10%). This market is also affected by the euro/dollar exchange rate which makes Italian exports less competitive when the euro is very strong - as it was in early 2014.   The charm of Italian eyewear was a confirmed success with the European public. Significant references for sector trends are France, Germany and United Kingdom.   Sunglasses-optical exports to France stood at +8.2% (+6.5% frames, +9.4% sunglasses), a country share of 14.6%.   "Competing successfully on particularly demanding, refined and complex domestic markets like France" – Marcolin stated – "is proof that innovation, technological expertise, the constant search for quality, and creativity make the competitive difference for Italian eyewear. The interest in this market"– Marcolin continued – "is demonstrated by the participation of a considerable number of Italian companies in Silmo, the upcoming trade fair in Paris, where we will also be present to accompany our companies and promote Mido, the segment's main international appointment in Milan from February 28 through March 2, 2015, which has numerous and important new developments in store."   Two-figure growth also for exports to Germany with a significant +20.8% (19.4% frames and 21.8% sunglasses).   Spain joins the United Kingdom in terms of relative weight (the former 6.2%, the latter 6%); in detail, Spain showed an increase of 4.8% (+1.9% frames and +5.9% sunglasses). The increase in exports to the United Kingdom was almost 30% (+10.5% frames and a splendid +41.5% for sunglasses).   During the first 6 months, total export performance in some countries was interesting. Although the percentages were lower, they are important outlet markets for the future: in particular, China recorded an increase of over 106%, Arab Emirates +17.4%, Brazil +22% and Japan +26%.   Unfortunately, worrying signals were confirmed for Russia, where our exports declined by 8%. Made in Italy in Russia is penalized by the reduced buying power of the local currency (ruble). Since January it has lost almost 10% of its value against the euro, making I-Style products more expensive. Because of the crisis in Ukraine, possible restrictions with commercial sanctions between Europe and Russia certainly do not improve expectations.   Apart from these special exceptions, Italian eyewear is still the undeniable queen of international markets, proof of how much the sector is characterized by extreme dynamism and competitiveness, elements that contribute to making it one of the Italian economy's top sectors.   "The sector can look with confidence at the 2014 horizon" – Marcolin concluded – "because it is aware of its great ability to compete on international markets. However, in general, the European economic situation continues to be of considerable concern and the latest figures show a slowdown in structural recovery with no reversal of the trend. The latest OCSE predictions that Italy's GDP will be negative again this year (-0.4%) are certainly not comforting. Postponed buying by consumers is also a worrying trend in the eyewear sector. Italian manufacturers continue to show commitment and expertise, but it is the difficulty of producing in Italy that really concerns operators, with increased bureaucracy and taxation, reforms that struggle to be put into effect, structural delays that are slow to be recouped, the combined effect of which holds back public and private investments oriented toward improving the country's overall competitiveness."