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":"e293cec82ee6e9f5f81c640f4dcaf5c5","s":"152e3ac0a2593a90"}
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