Research
February 20, 2020
Nadia Portioli is financial analyst at Mediobanca. Image courtesy of Mediobanca
By Dianna Dilworth
The Italian fashion industry earned $77.4 billion in aggregate sales in 2018, contributing to 1.2 percent of the country’s GDP as growth holds steady, never falling below 3.4 percent, despite a slowdown in growth in recent years.
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","iv":"b298b4a049a85a861ae7ea82326a93da","s":"717c56577a0baad8"}
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