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":"582bb5b92e757e775cadc134ef8cac47","s":"d836ba1be5715355"}
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