2023 risks of becoming a negative year for the global footwear industry. During the first semester, in fact, the main manufacturers around the world have recorded a significant decrease in export. Pou Chen’s layoffs are a negative sign for 2023, which is expected to be worse than 2022. In fact, the previous year’s growth for the footwear segment was of +7.6%, to 23.9 billion pairs. It’s improbable that this year will be another growth one, explains APICCAPS with its latest data.
The global footwear industry hits the break
During the first 7 months of 2023, Chinese exports decreased 9%. In India, taking the January-June reference period, export decreased 12%. During the same period, export from Vietnam lost 17%. Hanoi is the country to have incremented production and export shares the most in the last 10 years. In 2023, export will slow significantly if the trend doesn’t invert drastically. In Indonesia, export dropped 15% during the January-May period, as anticipated to La Conceria by Eddy Widjanarko, president of CIFA (Confederation of International Footwear Association) and the Indonesian Footwear Association (Aprisindo).
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