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":"1b2887b096da4ca837a8a3bf12e67e96","s":"e2bc7028ee429701"}
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