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":"430c598f45d410627cba194bd4716949","s":"466b1eaf81589e1b"}
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