The market for sneakers - Italy (2024)

1.2 The Global Market

The global sneaker market is expected to grow by *.** percent annually between **** and **** to reach a value of $*** billion. This demand is mainly driven by the Asia-Pacific region, which has a large population and an increasing average standard of living. China is expected to account for ** percent of the global sneaker market by ****. [***]

While demand is strong among millennials, they are not the only ones with a strong appetite for sneakers, as these athletic shoes diverted from their initial function are attracting more and more adults. The sneaker is a product that combines practicality and style, as it can be worn for any occasion while adding a touch of style. The strong increase in demand in this market is also due to the sneaker's great compatibility with Internet sales, as it fits well on the foot and avoids the need to try on shoes in a store, unlike street shoes, which require trying on.

Value and Projection of the sneaker market World, ****-****, in $Bn GrowthMarketReports

The global sneaker market is highly concentrated with two players (***).

In addition to new sneakers, there is a large market for second-hand sneakers. In total, the global sneaker resale market is estimated to be worth ...

1.3 The Italian market

In Italy, the market is very dynamic. According to Pricewaterhouse Coopers (***)[***]

Market Shares, Sportswear Sector Italy, ****, in percent PWC

In addition, women are a growing target audience on which all brands in the sector are focusing, among women the most popular brand is Puma (***) with high-end brands starting to produce sneakers and casual wear, including collaborations between Gucci and North Face, Comme des Garços and Salomon, Dior and Fendi for skis, and Moncler with Genius.

Stock X is currently the leading marketplace for reselling-also referred to as "reselling"-legal sneakers. This practice originally took place on platforms such as Ebay and CraigList, but unlike these Stock X has added a legit checking process, meaning it ensures that the shoes are not counterfeit.

In this analysis, production values were considered for the following products:

[***] Waterproof footwear with uppers made of rubber or plastic material (***) [***] Town footwear with uppers of rubber or plastic material [***] Training footwear, etc., with soles of rubber or plastic material and uppers of textile material [***] Other sports footwear, excluding snow and ski footwear and skating footwear

Production by value for all training footwear Italy, ****-****, in ML of € Istat

The value increases slightly from €***,*** million in **** to ...

1.4 Exports and Imports

For data on imports and exports of sneakers we refer to the code"****** - Sports footwear "of UN COMTRADE.

As we can see from the graph, Italy is an importing country for sneakers. Imports far exceed exports although we can see that in recent years there has been an increase in exports and a gradual decrease in imports.

Value of exports and Imports of sneakers Italy, ****-****, millions of USD UNComtrade

Imports saw a consistent decline, decreasing by ** percent from **** to ****, from USD ***.* million to USD ***.* million. In contrast, exports showed remarkable growth, more than doubling with a *** percent increase, rising from USD ***.* million in **** to USD ***.* million in ****. The coverage ratio, which indicates the ratio of exports to imports, reflects this dynamic. It peaked in **** at *.** but subsequently dropped to *.** in **** and remained stable in ****.

Dynamics of Imports of Sneakers in Italy in ****: Analysis of the Main Countries of Origin.

Main Countries of Origin of Sneakers Imports Italy, ****, in % UNComtrade Belgium accounts for **.*% of total imports, followed by France and Germany with **.*% and **.*% respectively. Vietnam and China together contribute **.* percent. The Netherlands, Spain, Romania and Poland show smaller contributions, ranging from *.* percent to *.* percent. Switzerland, despite its geographical proximity, accounts ...

1.5 The Russian-Ukrainian conflict

During the Russian-Ukrainian conflict, the footwear manufacturing industry in Italy faced significant changes in prices and costs, reflecting the impact of multiple external factors:

Increased raw material costs: Geopolitical instability and economic sanctions caused disruptions in the supply chains of essential raw materials, such as leather and synthetic components, that are critical in footwear manufacturing. These disruptions have led to higher raw material costs, which in turn is reflected in higher PPI. Changes in energy costs: European dependence on Russian natural gas and tensions in the global energy market during the conflict have caused energy costs to rise. For the footwear industry, which uses significant energy in the production and processing stages, this means an increase in operating costs. Exchange rate fluctuations: Financial instability may have affected the euro/dollar exchange rate, directly impacting import costs of raw materials not available locally and export revenues. Impact on logistics costs: The conflict intensified logistics problems already stressed by the COVID-** pandemic. The increase in transportation costs and logistical complexity could further burden footwear manufacturers. Inflationary pressures: Rising production costs combined with broader inflation in the economy led to higher retail prices, thus affecting the producer price index.

Industry producer price index - ...

2.1 An increasingly popular product in Italy

The footwear market is showing trends with the sneaker segment growing, especially in terms of Italian household consumption.

Source: ****

P.M. (***): Indicates the average price in euros per pair of shoes for each material.

The summary table shows economic and quantitative data on shoe exports, categorized by upper material. Leather/leather dominates in terms of economic value, while synthetics and fabrics show significant quantity and percentage changes in prices and volumes. In general, the average price per pair varies significantly among materials. The percentage change columns provide a view of annual trends, with increases and decreases reflecting market dynamics for each material.

Footwear Spending Trends in Italy in the First Half of ****: Predominance of Sneakers and Market Dynamics.

Trend first * months Italians' spending on shoes Italy, ****, in millions of euros Source: ****

With a total expenditure of ****.* million euros, sneakers rank first. This is followed by women's classic shoes, which record ***.* million euros. Men's classic shoes and shoes for children/teenagers show spending of ***.* million and ***.* million euros, respectively, indicating a smaller, but significant, market share. Interestingly, spending on slippers is considerably lower, with women's slippers reaching ***.* million, men's slippers **.* million, and children's slippers only **.* million.

Resilience and Recovery in the Sneakers ...

2.2 Italians' favorite sneakers

Fluctuations and Trends in Online Searches for "Sneakers" in Italy (***): Analysis of Seasonal and Annual Interest.

Searches for the term "sneakers" Italy, ****-****, index Google Trends, Businesscoot Processing

The value *** indicates the highest search frequencyof the term, ** indicates half of the searches. A score of *, on the other hand, indicates that not enough data were found for the term.

Starting with an index of **.** in May ****, a decrease is observed toward June and July of the same year, with values around **. The index then gradually rises again, reaching a peak of ** in April ****. After the peak in April ****, the index declines again in the summer months, stabilizing around **, then rising again at the end of the year. Toward ****, there is another significant increase in March and April, with the index reaching ** in April ****, showing an ** percent growth over May **** .

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Most searches are given by the biggest exponents of the industry, which include:

Adidas sneakers: they win a place on the podium of the trendy shoes of ****, particularly models that recall a vintage and ...

2.3 Demand driven by collectors

Sneakers have become much more than a consumer product for many buyers. There are many fans of this type of footwear and they do not hesitate to spend hundreds or even thousands every month to acquire the rare pair they need. These consumers are also known as "sneaker addicts."

Let's take three examples of the most iconic collaborations that have been released in recent years: the Nike Air Jordan * High "Travis Scott," the Adidas Yeezy Boost ***, and the Air Jordan * x Off-White "Chicago." All of these models were released through a random system of so-called "raffles"-limited editions between $*** and $***, thus in line with the price of any other sneaker. What is surprising, however, is the resale value, which in the case of the three models mentioned above averages between $*,*** and $*,***, according to Stock X. This practice originally took place on platforms such as Ebay and CraigList, but unlike these Stock X has added a legit checking process, meaning it ensures that the shoes are not counterfeit. This is very important both to counter the fake market and to protect buyers willing to spend big bucks for collectibles and beyond. In addition, Stock X has simultaneously become the body that-just like ...

2.4 New demand trends

The following table provides a detailed cross-section of favorite brands in various product categories, from clothing and accessories to collectibles and electronics. [***]

Regarding the division of consumer demand between men and women, the former have **% of the utilities while the latter have increased to **%.

Breakdown Users between men and women on StockX World, ****, in % StockX

3.1 Market Structure

The footwear market represents a vital segment of the manufacturing industry, characterized by constantly changing competitive dynamics and consumption trends. In Italy, trends in the number of active companies offer significant insight into the sector's health and challenges.

Progressive contraction in the Italian footwear industry: Analysis of the period ****-****

Number of enterprises operating in the footwear industry Italy, ****-**** Assocalzaturifici

In ****, there were **** enterprises, while in **** the number dropped to ****. This represents a **.* percent decrease in five years, with the sharpest reduction occurring between **** and ****, from **** to **** enterprises.

Fluctuations and recovery in the number of employees in the Italian footwear industry:

Number of employees working in the footwear industry Italy, ****-****, in number Assocalzaturifici After a slight increase in **** from **,*** to **,*** employees, there was a significant decrease in ****, falling to **,***. From ****, a gradual recovery is observed, with the number of employees increasing to **.*** in ****. Overall, from **** to ****, there is a *.* percent decrease in the number of employees.

Distribution of legal forms in the Italian footwear sector: Overview ****

Legal form of enterprises active in footwear manufacturing, ATECO code [***] Italy, ****, in % Istat The Italian footwear sector is dominated by sole proprietors and limited liability companies, which together make up more than ** percent ...

3.2 Value and production chain

The sneaker market supply chain begins with the factory receiving all the components needed for production (***). Then production can take place, after which the finished product is checked and packaged. Since production and final consumption very often occur far apart, the product is transported and exported to the market where it is to be sold. Once it arrives at the central warehouse, it is sold to the distributor who requested it. Finally, end consumers can get it from the shelves of the brand in question[***].

For sneakers marketed in Italy, the production part very rarely takes place on the ground.

Source: ****

3.3 Distribution and reselling channels

In the sneaker industry, distribution channels are a crucial element in the commercial success of products. As the market evolves and the reselling phenomenon increases, understanding distribution centers becomes critical to effective marketing strategies.

Location of Distribution Centers: Distribution centers are often located in logistically advantageous areas, near major urban centers or key transportation nodes, to facilitate rapid distribution both nationally and internationally. Warehouses of Sneaker Manufacturers: Major brands such as Nike, Adidas, and Puma own and operate their own distribution centers. These centers serve to manage the large volume of products and streamline operations to send them both to retailers and directly to end consumers. independent Distributors: There are also distributors who work with multiple brands and manage inventory for different manufacturers. These centers are critical for smaller brands or new entrants to the market that do not have their own distribution infrastructure. E-commerce and Direct Distribution: The rise of online sales has prompted many manufacturers to develop specialized distribution centers for e-commerce. These centers are designed to handle online orders and ensure fast and efficient delivery to consumers. Automation and Technology: Modern distribution centers use advanced technologies such as automated warehouse management systems, robotics, and real-time tracking to maximize ...

3.4 Major global manufacturers of sneakers

The sneaker industry is dominated by several major companies, each renowned for its unique contribution to fashion and functionality. The main ones are:

Nike: founded in **** by Bill Bowerman and Phil Knight. Initially, the company was called Blue Ribbon Sports and later renamed itself Nike in ****, taking its name from the Greek goddess of victory,is the world's leading sneaker giant, with about ** percent market share. It is not only a major player in athletic footwear, but also dominates the lifestyle segment through its ownership of the Jordan brand and Converse. This diversified portfolio allows Nike to cater to a wide range of consumer tastes and needs, reinforcing its position at the top of performance and fashion in the footwear market. Adidas: Adidas was founded by Adolf "Adi" Dassler in ****. Adi began producing sports shoes in his mother's laundry as early as the ****s, after the end of World War I, together with his brother Rudolf Dassler. The two brothers initially collaborated in Gebrüder Dassler Schuhfabrik, but after some disagreements, they parted ways and Rudolf founded his own company, which later became Puma, while Adi founded Adidas. It holds a significant market share, ** percent, and is widely recognized for its ...

4.1 Supply analysis

the following chart shows the progressive decline in sales of training footwear in Italyof the following categories: [***] Waterproof footwear with uppers of rubber or plastic material (***) [***] Town footwear with uppers of rubber or plastic material [***] Training footwear, etc., with soles of rubber or plastic material and uppers of textile material [***] Other sports footwear, excluding snow and ski footwear and skating footwear Production value in quantity sold for all training footwear Italy, ****-****, in millions of units Istat In ****, **.* million units were sold, and this number increased to **.* million in ****. From ****, a significant decrease is observed, starting with **.* million units, then falling further to **.* million in **** and **.* million in ****. This represents a decline of **.* percent between **** and ****.

Category segmentation includes four major sectors within the footwear industry:

Sports Shoes and Sneakers All types of shoes excluding sports shoes Slippers/Slippers/Slippers

Value of sales in the first * months for footwear Italy, ****, in % Assocalzaturifici

The graph shown indicates a clear predominance of the "Sports and Sneakers" categories, which account for **.** percent of the total value of sales in the first six months. This is followed by women's footwear (***) are significantly lower, at **.**%, while children's and youth shoes reach *.**%. Women's slippers are at *.**%, men's ...

4.2 Prices of the most popular sneakers

This analysis examines the evolution of consumer price indexes for a specific category of products in Italy from **** to ****. Focusing on footwear production, the report tracks annual changes in the indices.

Consumer price index for footwear as a whole (***) - annual averages Italy, ****-****, index Istat Code ECOICOP [***]

In ****, the index stands at **.*, indicating that prices were slightly lower than in **** This value rises marginally in **** reaching **.*, then falls to **.* in ****, the lowest level in the period under consideration In ****, the index rises again to **.* while in ****, the index reaches ***.*, exceeding the **** level for the first time .

This section lists the prices of the most popular shoe models of major sneaker brands.

Men's models:

Women's models:

Rare and most expensive models in the world

Source: ****

4.3 Collaboration between multiple brands

A collaboration or "collab" is a brend partnership that is made between two companies to create a product that features both brands. This strategy is often used to use the id strengths of both companies or simply to create a unique product that appeals to broader targets.

Collaborations between designers, celebrities, brands, and sneaker makers are endless, but some stand out for their successful entry into fashion history. The classic examples, are:

Air Jordan, which was born from a collaboration between Nike and Michael Jordan and made its official NBA debut in March **** at the feet of the most iconic basketball player of all time. Yeezy (***) was born out of a collaboration between Adidas and Kanye West, which debuted in **** and marked the beginning of an artistic crisis between the rapper and Adidas, the latest being with Collaboration with Travis Scott. These chunky sneakers have become a must-have for all fans and have continued to evolve their style over time. Ozweego or adidas x Raf Simons first hit the market in the mid-****s.

Then there are the new collaborations coming to market in ****:

Bad Bunny x Adidas: This collaboration continues with the release of "The Last Campus," marking the latest ...

4.4 Innovations in the sneaker world

In the world of sneakers, major innovations include:

Adidas has launched "Futurecraft.Loop," a revolutionary project that aims to create a fully recyclable sneaker. This initiative is part of the company's efforts to address waste and promote sustainability in the fashion industry. The shoes are designed to be returned to Adidas at the end of their life cycle, where they can be fully recycled to create new shoes, closing the loop in the manufacturing process and reducing environmental impact. NikeAdapt represents one of Nike's most significant innovations in sneaker technology. This line of shoes features an automatic lacing system that adjusts to the user's foot. Through buttons on the shoe or a mobile app, users can adjust the fit as needed, improving comfort and support. This technology is a step toward shoes that are increasingly personalized and responsive to individual needs. ASICS has developed GEL technology, which is used in the soles of its shoes to provide superior cushioning. This special material, placed at critical points in the sole, helps absorb shock and reduce impact during physical activities, such as running. The introduction of this technology has greatly improved the comfort and performance of ASICS shoes, making them very popular among ...

5.1 Regulatory framework

Labeling rules

When buying shoes, whether shoes, boots, or sneakers, consumers are often attracted only by elements such as style, color, and price, partially ignoring quality. Information about the materials used in the various parts of footwear (***) must be given special attention at the time of purchase, so much so that manufacturers must provide explanatory labels to retailers, who in turn must show consumers during marketing A logo describing the symbolism employed on the label.

Let's start with the definition of footwear under the law:

All products with soles that protect or cover the foot, including parts marketed separately; Shoes with or without heels to be worn indoors or outdoors; Boots up to the ankle, mid-leg boots, boots up to the knee, and boots covering the thighs; Sandals of various types, espadrilles; Tennis shoes, shoes for jogging and other sports activities, swim shoes and other sports-type footwear; Special footwear designed for a sporting activity and which is or may be fitted with spikes, crampons, bindings, bars or similar accessories; footwear for skating, skiing, wrestling, boxing, cycling, footwear to which ice skates or roller skates are attached; Dance shoes; One-piece formed footwear made of rubber or plastic, excluding disposable items made of ...

6.1 Segmentation

• Foot Locker Italia
• Nike
• StockX
• Under Armour
• On Running
• New Balance
• Adidas
• Puma
• Skechers
• Jordan (Nike)
• Vans
• Farfetch
• GOAT
• WeTheNew