2014-03-20 11:50:05 - Clothing Accessories in Italy - a new market research report on companiesandmarkets.com
Emporio Armani by Giorgio Armani SpA ranked first in clothing accessories with 4% value share, followed by Gruppo Coin. Its brand OVS Industry performed very well within clothing accessories in Italy. Ranked third was the low price retail house Inditex, with its Zara, Bershka and Pull & Bear brands. The top brands in terms of sales in Italy are still clothing brands, which have extended into accessories.
The brands that cover most value shares in the category, belong to premium names and the rest of the category is mostly covered by cheaper brands or private label positioned at the low-end of the price ladder. This indicates significant polarisation in clothing accessories. Consumers who have mid-range purchasing power, are now relying on
branded and widely-recognised items, since, clothing accessories can create a nice, fashionable look by themselves even when the main outerwear is simple and standard. Consumers with low purchasing power opt directly for unbranded, cheap and convenient items.
Emporio Armani, which focuses on high-end products, continued to register stable increases in sales. Emporio Armani meets the needs of adult, young professional and teenage targets, with classic colours and shapes, maintaining its iconic logo and offering convenient selling prices for premium-quality products. Intai SpA also registered a good performance in 2011, particularly through its wide range of scarves and foulards, from Pashminas to pure silk or mixed fabric scarves, ensuring quality and design primarily for an adult customer base.
Despite the bad performance of leather products for women, belts grew by 1% in current value terms. Belts are often used to accessorise womens outerwear, with the astonishing success of dresses that always tend to be set off with different types of belts. In addition, hats/caps improved on 2010s performance, also growing by 1%. Colder winters made the cap an essential accessory to keep warm and add a fashionable look.
Ties performed badly, registering 10% current value decline due to the economic downturn and reduced purchasing power, as well as an outdated image, sometimes even in the work environment.
Clothing accessories is predicted to continue its decline with a constant value CAGR of-3%. Clothing accessories will remain an essential component of a persons total look but due to the economic crisis people will try to save money and select cheaper brands, such as the international ones.
As long as the economic situation continues, clothing accessories will be the first category to suffer. During the review period, this category was stagnant with no major increases or decreases. However, over the forecast period, consumption will focus on cheaper products. As a result, even if volume sales do not decline, the overall constant value sales will.
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