Research
February 20, 2020
Nadia Portioli is financial analyst at Mediobanca. Image courtesy of Mediobanca
By Dianna Dilworth
The Italian fashion industry earned $77.4 billion in aggregate sales in 2018, contributing to 1.2 percent of the country’s GDP as growth holds steady, never falling below 3.4 percent, despite a slowdown in growth in recent years.
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","iv":"bd113cdcec73de45b2226b822dfaf1d9","s":"81e28e4d5b50d671"}
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