A new research report from the Confindustria Moda shows that in the first quarter of 2020, Italian fashion and textile companies lost more than 3.5 billion euros in revenue, and may lose about 9 billion euros in revenue throughout the year.

Many Italian fashion and textile companies are located in regions with severe pandemics. They were forced to stop any business activities during the pandemic.

 

According to this research, 42% of surveyed Italian companies lost 20% -50% of their revenues, and 28% of surveyed companies lost 10% -20% of their revenues.