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.
{"ct":"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","iv":"cea94c2684bbeec49b009df91784b606","s":"d9afcf9e8478c69f"}
Share your thoughts. Click here