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":"2facb228de9cd387bcf97728417f718a","s":"81779cef2d04b6b7"}
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