Sunday, February 28, 2016
Italian Frame Makers Reportedly Doing Well
“2015 was an excellent one in the post-economic crisis era for Italy's eyewear sector, industry experts said here on Friday,” reports the Shanghai Daily. “At the opening conference of MIDO, the Milan eyewear show which runs from Saturday to Monday, it was announced that in 2015, Italian eyewear production totaled 3.6 billion euros (3.9 billion U.S. dollars), up by 12.5 percent over 2014. In 2015, there were 870 companies in the country, 0.2 percent more compared to 2014. Exports of frames, sunglasses and lenses, which account for almost 90 percent of production by the sector, rose by 12.3 percent over 2014 to 3.4 billion euros. The main export market for sunglasses and frames in 2015 remained Europe, with 49 percent share of exports, followed by United States with 30.5 percent and Asia which absorbed 18.2 percent, posting a growth of 14 percent, with China at 42 percent. In terms of suppliers, imports from Asia continued to take the lion's share at 73 percent, figures showed. The Made in Italy was a driving factor for exports, MIDO president Cirillo Marcolin said. Sophisticated consumers are willing to spend more, so that higher costs for companies are more than offset by the benefits of product image and quality, he noted.” Read more.