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Hosiery in Italy

New C&M research published: Italy Hosiery market


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2014-03-20 11:43:02 - Hosiery in Italy - a new market research report on companiesandmarkets.com

Calzedonia ranked first in hosiery in Italy with 16% value share in 2011 and developed its business through a wide distribution network, opening mono-brand shops starting with Calzedonia and Intimissimi, while also establishing a presence in underwear. The company continues to offer innovation through new brand names such as Tezenis. Calzedonia also managed to be successful throughout the economic downturn by meeting customer demands for very competitive prices, targeting any range of the population and by strengthening the brand image with heavy investments in advertising, marketing activities and targeted promotions. However, hosiery was fragmented although to a less extent than other apparel categories.

Calzedonia, as in 2010, registered the best performance across hosiery in 2011. Due to the difficulties of Italian

 

 

apparel in general, the positive trend of Calzedonia denotes the capability of this company; in fact, most of the local operators performed worse than in 2010. Considering the crisis that crunched the fashion market, sales are also due to good choices of Calzedonias advertising which included famous people like Irina Shaik in 2010, Alyssa Miller and Melissa in 2011.

Tights and stocking have been substituted by leggings by Italian feminine consumers; therefore they are no longer attracting consumers. However, socks, more specifically for men, witnessed a marginally positive trend in 2011 with a 1% growth rate in current value sales. Even if this segment is quite far from pre-crisis levels, it managed to perform better than 2010 because of the new collection of hosiery for men. Companies spent many efforts in advertising socks and hosiery for men; for example Calzedonia introduced a large socks collection specifically dedicated to Italian men. For its launch it used Mark Vandeloo from television to endorse the products.

In Italy, hosiery is almost a commodity, considered essential in ordinary everyday looks to wear with shoes. For men, there is little variety in the demand where 90% of socks are a classic style and only 10% are sport-specific. For women, the scenario is more varied, with women using more knee-length variants once again after having abandoned them in the past in favour of holdups, thick tights that go well with dresses and boots, or cotton socks that are worn with boots in the summertime.

Hosiery is predicted to decline by a CAGR of 2% in constant value terms. Hosiery in general is not able yet to create a commitment to link the consumer to a particular company. Moreover, this category had some difficulties and the most of the companies are not strong enough to attract and excite the consumers that insist on buying cheaper products.

Over the review period, sales of this category declined by a-6% constant value CAGR. Over the forecast period however, the decline will lower due to the efforts spent on renovating this category by the players. Nowadays, hosiery includes not only tights but many different items that can really attract the consumer and increasingly becoming a style icon, adding to the fact that it is an essential item with a hint of character and fashion that defines the total look.

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