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":"e1ee9a81852efcebc8cd285a7541c958","s":"9019cf92fa1dc868"}
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