The Italian fashion industry is suffering from the corona crisis, with sales falling by as much as 20 billion euros

The Italian fashion industry is suffering from the corona crisis, with sales falling by as much as 20 billion euros

The pandemic of the new coronavirus is dragging the Italian fashion industry into an ever deeper crisis. As many as 20,000 clothing stores are at risk of closing, which means the loss of 50,000 to 310,000 jobs in the industry, the Federazione Moda Italia said. The union estimates that sales of fashion stores will fall by 20 billion euros this year. One of the reasons is that rich foreign tourists, who traditionally spend a lot there, do not come to Italy due to the pandemic. Even in the run-up to Christmas, consumption did not increase as expected. In addition, competition from online sales is extremely strong. The union called on consumers to shop in nearby stores instead of the internet. However, due to strict anti-pandemic measures, shops in several Italian regions have been closed in recent weeks.