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Clothing Retailing - Italy - November 2010

  • Economic contraction began in the second quarter of 2008. Positive growth returned in the third quarter of 2009, but GDP still declined by 5.0% for the full year.
  • The recovery is forecast to be slow, with GDP growth of around 1% forecast for 2010 and 2011 with only a small increase in growth thereafter.
  • Like many other countries in the Eurozone, Italy has taken austerity measures to control its public debt.
  • These measures, coupled with rising unemployment, are likely to continue to put pressure on consumer spending over the next few years, particularly on discretionary items such as clothing.
  • The clothing specialists’ sector has seen sales decline by almost 2% in each of the last two years and a further, smaller fall in sales is expected for 2010. When sales tax is figured in, this gives clothing specialists a 42% share of total spending on clothing.
  • However, we forecast that retail sales for clothing specialists will rise by a total of 5.2% from €19.3 billion in 2010 to €20.4 billion in 2015.
  • Consumer spending on clothing began contracting in 2009, following positive growth of 1.5% in 2008. Spending on clothing fell by 1.9% in 2009 to €55.1 billion (incl. sales tax), which is a better performance than countries such as France, which saw two years of declines, but worse than the decline seen in Germany.
  • The clothing specialists sector is relatively fragmented, with the top five clothing retailers accounting for around 19% of retail clothing sales.
  • Domestic players dominate the ranking of leading clothing specialists. Gruppo Coin is the market leader, with a market share of 6.2% from its Oviesse and Coin fascias combined. Benetton is in second place (market share 4.7%).
  • International operators, including H&M, Mango, Gap and Inditex have undertaken expansion into the Italian market, including e-commerce launches in 2009/10.

Mintel European Retail Intelligence provides independent, expert coverage of the major retail sectors throughout Europe. Each title in this series analyses retailing trends in up to 19 European markets, including the Scandinavian nations and Eastern European countries such as the Czech Republic and Poland as well as the major Western European markets.

The coverage provided by each report is as accurate, relevant and up-to-date as possible, combining in-house sector expertise with retailer performance data, taken directly from industry and trade sources.

With titles ranging from 'DIY Retailing in Europe' through to 'Food Retailing in Europe', each market examination includes studies of:

  • background economic and demographic data
  • market sizes
  • regional retailing trends and issues
  • market drivers
  • consumer expenditure
  • consumer trends
  • leading pan-European retailers
  • domestic retailers
  • market forecasts

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Table of contents

  1. Market in Brief

    • Report Scope

        • Technical notes
          • Definitions
            • Financial definitions
              • Currencies
                • Country codes
                  • Figure 1: Country codes
                • VAT
                  • Figure 2: Europe: Standard VAT rates, 2010
                • Other abbreviations
                • Broader Market Environment

                    • Key findings
                      • Demographic change
                        • Figure 3: Italy: Population projections, by age group, 2010-30
                      • Implications for clothing retailers
                        • Economic progress
                            • Figure 4: Italy: Economic projections, 2010-15
                          • Implications for clothing retailers
                          • Competitive Context

                            • Key findings
                                • Figure 5: Italy: Consumer expenditure on clothing and selected related categories, 2005-09
                                • Figure 6: Italy: The UK, France, Germany: Consumer expenditure on clothing as a percentage of total consumer expenditure, 2005-09
                              • Clothing sales relatively robust
                                • Low inflation
                                    • Figure 7: Italy: Consumer price index for selected categories, 2005-09
                                  • Channels of distribution
                                  • Sector Size and Forecast

                                    • Key findings
                                      • Italy’s gradual economic recovery
                                        • Slow recovery for clothing retail
                                          • Figure 8: Italy: Retail sales, 2005-15
                                          • Figure 9: Italy: Growth in clothing specialists’ sales compared to total spending on clothing, 2005-09
                                        • Clothing specialists’ prospects
                                          • Enterprise data
                                            • Figure 10: Italy: Clothing retailers, enterprise numbers, 2003-07
                                        • Retail Competitor Analysis

                                          • Key findings
                                            • Domestic leadership
                                              • International operators challenging
                                                  • Figure 11: Italy: Leading players in the clothing sector, 2009/10
                                                • Market shares
                                                • Benetton Group

                                                    • Figure 12: Benetton Group: Sales as share of clothing, footwear & textiles in Europe, 2005-09
                                                  • Strategic evaluation
                                                    • Growth opportunities mostly outside Europe
                                                      • Competition increasing
                                                        • Vertical integration still a strength
                                                          • Lack of internet strategy worrying
                                                            • Recent history
                                                              • Financial performance
                                                                • Figure 13: Benetton Group: Group financial performance, 2005-09
                                                              • Market performance
                                                                • Brand performance
                                                                  • First half of 2010
                                                                    • Store portfolio
                                                                      • Figure 14: Benetton Group: Outlet data, 2005-09
                                                                    • Retail offering
                                                                        • Figure 15: Benetton Group: Sales, by brand, 2009
                                                                      • Advertising and marketing
                                                                        • e-commerce and home shopping
                                                                        • Grupo Inditex

                                                                            • Strategic evaluation
                                                                              • Recent history
                                                                                • Financial performance
                                                                                  • Figure 16: Grupo Inditex: Group financial performance, 2005/06-2009/10
                                                                                  • Figure 17: Grupo Inditex: Sales growth, 2005/06-2009/10
                                                                                  • Figure 18: Grupo Inditex: Estimated sales in key European markets, 2005/06-2009/10
                                                                                  • Figure 19: Europe: Grupo Inditex: Sales by retail brand, 2005/06-2009/10
                                                                                • H1 2010/11
                                                                                  • Figure 20: Grupo Inditex: Sales H12009/10 and 2010/11
                                                                                • Store portfolio
                                                                                  • Figure 21: Grupo Inditex: Outlet data, 2006-10
                                                                                  • Figure 22: Grupo Inditex: Outlet numbers, by fascia, 2005/06-2009/10
                                                                                  • Figure 23: Grupo Inditex: Other outlet data, by fascia, 2009/10
                                                                                  • Figure 24: Grupo Inditex: European Stores by country and by fascia, 2009/10
                                                                                • Retail offering
                                                                                  • e-commerce and home shopping
                                                                                  • H&M Hennes & Mauritz

                                                                                      • Strategic evaluation
                                                                                        • Recent history
                                                                                          • Financial performance
                                                                                            • Figure 25: H&M Hennes & Mauritz: Group financial performance, 2004/05-2008/09
                                                                                          • First half 2009/10
                                                                                            • Store portfolio
                                                                                              • Figure 26: H&M Hennes & Mauritz: Outlet data, 2004/05-2008/09
                                                                                            • Retail offering
                                                                                              • e-commerce
                                                                                              • Mango Group

                                                                                                  • Figure 27: Mango Spain: Sales as share of all clothing specialists’ sales in Spain, 2005-09
                                                                                                • Strategic evaluation
                                                                                                  • Global presence – too big?
                                                                                                    • Distinct from its competitors and staying true to the core brand message
                                                                                                      • Developing a multi-brand strategy?
                                                                                                        • Recent history
                                                                                                          • Financial performance
                                                                                                              • Figure 28: Mango Group: Group sales performance, 2005-09
                                                                                                              • Figure 29: Mango: Estimated performance, by major markets, 2009
                                                                                                            • Store portfolio
                                                                                                                • Figure 30: Mango Group: Outlet data, 2005-09
                                                                                                                • Figure 31: Mango Group: Breakdown of stores in Europe, 2006-10
                                                                                                              • Retail offering
                                                                                                                • e-commerce and home shopping
                                                                                                                • Appendix – Broader Market Environment

                                                                                                                  • Population
                                                                                                                    • Figure 32: Europe: Population, by age group, 2005
                                                                                                                    • Figure 33: Europe: Population, by age group, 2010
                                                                                                                    • Figure 34: Europe: Population, by age group, 2015
                                                                                                                    • Figure 35: Europe: Population, by age group, 2020
                                                                                                                  • GDP
                                                                                                                    • Figure 36: Europe: GDP (in current prices), 2000-10Q2
                                                                                                                    • Figure 37: Europe: GDP Growth rates (in constant prices), 2000-10Q2
                                                                                                                  • Consumer spending
                                                                                                                    • Figure 38: Europe: Consumer spending (in current prices), 2001-10Q2
                                                                                                                    • Figure 39: Europe: Consumer spending growth rates (in constant prices), 2001-10Q2
                                                                                                                  • Consumer prices
                                                                                                                    • Figure 40: Europe: Consumer prices, 2000-Q3 2010
                                                                                                                  • Unemployment
                                                                                                                    • Figure 41: Europe: Average rate of unemployment, 2000-Q2 2010
                                                                                                                  • Interest rates
                                                                                                                    • Figure 42: Europe: Interest rates, 2004-Q1 2010
                                                                                                                  • Consumer confidence
                                                                                                                    • Figure 43: Europe: Consumer confidence, Aug 2009-Sept 2010

                                                                                                                Clothing Retailing - Italy - November 2010

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