. Türkiye's textile industry, a cornerstone of its economy and a significant global player, has faced formidable challenges following the devastating earthquake of February 2023. Despite the upheaval, Türkiye demonstrates resilience, yet lingering concerns about ethical practices cast shadows over its future trajectory as a sourcing destination.
The Italian fashion industry is poised to witness a growth of 3.2% in 2023, reaching sales of €111.7 billion, according to data released by Confindustria Moda. This growth is exclusively attributed to increased sales in value terms, marking a shift from the pandemic-induced trend. However, for the first time since the pandemic, the industry experienced a contraction in volumes. Additionally, the year saw a notable reduction in profit margins, influenced by surging energy and raw material costs, which were not offset by higher downstream prices.
Barcelona-based fashion giant Mango has set its sights on substantial expansion, announcing plans to open approximately 500 new stores by 2026. The renowned brand, celebrating its 40th anniversary next year, is determined to close fiscal 2023 with sales exceeding 3 billion euros, building upon the 2.68 billion euros in revenue generated last year.