Summary

Since 2020, the children's clothing market has exhibited varying trends with a significant impact from the COVID-19 pandemic. The global market value, estimated at $198.80 billion in 2023, is anticipated to climb to $318.34 billion by 2030, showcasing a robust CAGR of 6.96%. In particular, the luxury segment is on an upward trajectory, with a projected CAGR of 12.0% from 2022 to 2031, suggesting potential growth from $18.43 billion to $51.11 billion in value. Italy's market has reflected these global dynamics, witnessing an 11.2% increase in total turnover of the Junior fashion industry, recovering to €3.17 billion in 2023 from a significant dip in 2020. In the same vein, exports grew by 35.5% since 2017, reaching €1.49 billion in 2023, while imports saw an even larger jump of 46.4%, signifying a reliance on foreign goods. Despite growth in trade, the number of active businesses in both manufacturing and retail sectors showed a contraction, with employment following suit. The Russia-Ukraine conflict further complicated market conditions by inflating consumer and producer prices for children's clothing by 6.7% and 10.2% respectively between January 2022 and December 2023.

Trends and Dynamics in the Italian Children's Clothing Market

The Italian children's clothing market has shown varied dynamics over recent years, characterized by a series of growths and contractions reflective of broader economic and demographic trends. Despite a backdrop of fluctuating average monthly household expenditure on children's clothing, which saw a modest increase from around €14.25 to €14.22 per family between 2017 and 2021, the market is nonetheless under the influence of a declining number of children aged between 3 and 13 years. This demographic segment saw a decrease of approximately 6.4 percent, descending from around 5.94 million to 5.56 million within a four-year window. From a family structure perspective, the majority of Italian families tend to have one child, with about 35.9 percent in this category, while those with no children constitute approximately 31.4 percent, and those with two children make up around 26.2 percent. It is worth noting that families with four or more children are quite rare, representing merely about 1.1 percent. Furthermore, the fertility rate has declined by about 10.4 percent within ten years. These figures suggest Italian parents are increasingly opting for higher-quality children's garments, buoyed by typically being older and having more stable financial situations, allowing them to prioritize their children's comfort and well-being over cost considerations. The total turnover of the Italian Junior fashion sector experienced a notable upward trajectory, swelling by approximately 11.2 percent from 2.86 billion euros to 3.17 billion euros between 2017 and 2023. However, this growth must be contextualized with the contraction in production value in the same sector, which slightly fell by about 3.5 percent. It's highlighted that the decline of final consumption value stands at a decrease of about 8.5 percent.

Some of the key Contenders in Italy's Children's Clothing Sector

The Italian children's clothing market is adorned with several prominent brands that have carved their own niches through distinct styles, ethical practices, and affordability. These brands cater to various customer needs, from high fashion to everyday casual wear for children. Below is a closer look at the major players shaping the industry landscape in Italy:

Zara - Fast Fashion Meets Kids' Trends Zara, a household name originating from Spain in 1974, has made an indelible mark on fast fashion. In Italy, the brand boasts over 150 stores, ensuring a hefty reach across the nation. Zara is adept at translating the latest adult fashion trends into their kids' lines, creating contemporary and trendy styles for all age groups, from tiny tots to blossoming teens. With a strategy that involves frequent renewal of collections, Zara guarantees fresh styles that keep pace with changing fashions making the brand a go-to for trend-aware families.

OVS - Sustainable and Stylish Selections for Kids OVS, an Italian stalwart since 1972, operates an expansive network of over 900 stores throughout the country. The brand is acclaimed for its eclectic children's collections, highlighting both casual wear and formal attire that embody current trends. OVS distinguishes itself with a commitment to sustainability, priding itself on offering fashion-forward yet environmentally and ethically conscious choices, making them a prime choice for families who value affordability without compromising on quality or planetary well-being.

Benetton - A Kaleidoscope of Kids' Fashion Benetton Group, the vibrant color maestro, has been an emblem of Italian fashion since its inception in 1965. With roughly 400 stores in Italy, Benetton has a substantial presence in the children's clothing segment. Catering to infants to teens, their kids' clothing line is praised for its bright hues and whimsical designs. Besides aesthetic appeal, Benetton is also recognized for its focus on ethical production and reducing environmental footprints, winning the trust of families who prefer their children's fashion to be socially responsible.

H&M - Affordable and Eco-Conscious Apparel for Little Ones H&M, a global fashion force from Sweden, was founded in 1947 and today, flaunts more than 170 outlets across Italy. Their children's range encompasses everything from trendy to formal wear, accessories, and even playful toys.

the children's clothing market - Italy

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 07/02/2024

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Summary and extracts

1 Market Overview

1.1 definition and presentation

The children's clothing market refers to all fashion clothing and accessories for children aged 0 to 14 years. The children's clothing market is growing rapidly and is considered more dynamic than adult clothing.

The United States dominates the global market, accounting for 27 percent, while China is the fastest growing country. In Europe, Germany accounts for the largest share of the market. Several new trends are noted in the market, especially as a result of a new generation of millennial parents, who are now responsible for about 50 percent of children.

In Italy, The market is structured around large specialized brands, large generalist retailers and several independent specialized players. We also find many international brands in the market, but also large tricolor brands with commercial operations around the world, such as Benetton or Chicco.

There are several factors influencing the market. These include the declining birth rate, the high level of loyalty of new parents, and the growing demand for sustainable products. In addition, parents are paying more and more attention to the quality and design of their children's clothing, thus pushing market players to adapt to this type of demand. Another important criterion is the durability of garments.

The market is experiencing a period of digitization and growth in the sustainability of materials and production processes. In fact, market players are increasingly offering items made from recycled materials and doing so using digital channels, the use of which by consumers is growing rapidly, gaining several percentage points each year.

2 Demand analysis

3 Market structure

4 Supply analysis

5 Regulations

6 Positioning of players

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Latest news

Miniconf grows 23% and advances business transition - 03/04/2024

Anniversary and Corporate Evolution Miniconf:
- Miniconf celebrates 50 years in business.
- Until three years ago, it was run with a typical family business model.
Introduction of a new business model and co-general management.
- Basagni (the founder) remains president and chief executive officer (CEO).
- Leonardo Basagni heads the General Resources Department (administration, finance, human resources and IT).
- Marco Perin, formerly of Max Mara, is in charge of General Business Management (sales, marketing, merchandising, design and operations).
- Cristina Finocchietti was recently added as the new product manager.
Financial Performance 2022:
- Turnover 2022: Over 70 million euros.
- Revenue growth 2022 over 2021: 23%.
- Growth over 2019 pre-pandemic results: 9%.
Strategies and Prospects for 2023:
- Forecast uncertainty for 2023 due to global factors such as war, inflation, and issues in transportation and supply.
- Focus on flexible management mode, "navigating by sight."
Retail Expansion and Events:
- Retail expansion with new openings in Sicily.
- Foreign development planning.
- Organizing 50th anniversary events both at Pitti Bimbo in June and at the company's headquarters on Sept. 22.
Collections and Product Innovations:
- Presentation of the Fall/Winter 2023-24 collections for the Sarabanda, Minibanda, and iDO brands in addition to the kidswear licenses of Ducati and Superga at Pitti Bimbo 96.
- Varied proposals focused on the "back to school" theme and No Gender collections by Superga Kidswear.
- Ducati Kidswear stands out with sweatshirts and t-shirts with historical graphics, as well as a Newborn collection.

Ovs-Goldenpoint, binding agreement signed. Option to rise to 100 percent by 2029 - 02/04/2024

Goldenpoint SPA: Revenues: 100 million euros.
First Investment from OVS in Goldenpoint:
- Total investment: 3 million euros.
- Purpose: Subscription of a convertible bond and acquisition of 3% of Goldenpoint's share capital.
Plan for acquisition by OVS:
- Multiphase up to full control.
- By July 31, 2025: OVS has the option to acquire 51% of the capital.
- From August 1, 2026 to July 31, 2029: Option to acquire the remaining 49% of the share capital.
- Valuation: Based on a multiple of Ebitda minus net financial position.
Targets for Goldenpoint:
- Growth in revenue and Ebitda.
- Investment in the network of stores (currently 380).
OVS financial data:
- Sales increase: 1.4% on a like-for-like basis in 2023.
- Adjusted EBITDA in 2023: slight increase from 180.2 million in 2022.

Benetton, Revo holding company is born. - 02/04/2024

Creation of Revo: a company formed by Regia, Evoluzione 4 and Evoluzione 11, with a dual focus on financial investment and real estate management, typical of Italian family holding companies.
Shareholders of Rilievo: Sabrina Benetton and Ermanno Boffa, Daniela and Carlo Bertagnin Benetton, who hold 50 percent and equal shares of 25 percent, respectively, through Evoluzione's holding companies.
Roles of Ermanno Boffa: listed as chairman and CEO of Revo, as well as CEO of Regia and member of the board of Edizione representing the Gilberto Benetton branch.
Representation on the Edizione Board: Carlo represents his mother and sisters on the Edizione board, highlighting the family division in the management of equity investments.
Benetton Family Wealth and Investments: since 1981, the Benetton family has led a financial empire ranging from infrastructure (Mundys) to restaurant-duty free (Avolta), apparel (Benetton), telecommunications (Cellnex), holdings in Generali and Mediobanca to real estate investments (Edizione Property) and farmland (Maccarese).
Generational Transition: in 2021, Giuliana Benetton structured the transition of assets to the second generation, establishing the basis for an orderly distribution of holdings through the creation of the Evoluzione safes.
Activities in the Real Estate Sector: in addition to Revo, various branches of the family are active in real estate investments and hotel coworking spaces through specific companies such as Ricerca 12.

H&M soars on Stockholm Stock Exchange after better-than-expected quarterly report - 27/03/2024

Operating income: 2.08 billion kronor (~181.4 million euros), up from 725 million in the previous year, higher than the expected average of 1.43 billion kronor.
Sales: halved by 2% to 53.7 billion kronor, while a larger decline was expected.
At the beginning of the second quarter (March 1 to March 25), revenues increased by 2 percent.
Gross margin: rose to 51.5 percent from 47.2 percent a year earlier.
Net income: increased to 1.2 billion kronor from 540 million.
Earnings per share: 0.75 kronor per share, up from 0.33 kronor.
In addition, the following strategic actions are planned for the current year:
- Renovation of about 250 stores, including those in New York, Berlin, London and Stockholm, with a "significant increase" from the previous year.
- Opening about 100 new stores, mainly in growth markets.
- Closure of 160 stores in more established markets.
Future goals and strategies:
- Aim to achieve a 10% operating margin for the current year.
- Improve customer offerings, their store experience, and the supply chain to increase sales.
Analyst evaluations:
- - Bernstein believes H&M's performance was better than expected but is skeptical about achieving the Ebit margin target of 10 percent for 2024.
  - Jefferies confirmed a "neutral" rating with a price target of 150 kroner.
  - Deutsche Bank maintained a pessimistic rating with a target price of 140 kroner.

Zara empire grinds out profits of more than €5 billion with Marta Ortega at the helm - 14/03/2024

Financial results 2023: Inditex surpassed 5 billion euros in net profits, up 30 percent from the previous year.
Revenue growth: The company's total sales approached 36 billion euros.
Increase in online purchases: Online purchases grew by 16 percent.
Leadership: Marta Ortega, nicknamed "Martita" and also "la doctora" in Spain, has taken a key position in the direction and renewal of the brand, having also climbed the Standard Fashion Power ranking as the most influential person in the fashion world.
Branding initiatives: Under the leadership of Marta Ortega, Inditex presented Zara's collections at Paris Fashion Week and New York fashion shows, flanking the promotion with famous photographers and testimonials.
Brand extension: The new Zara Hair product line was launched, adding to the Zara Home cosmetic and home lines.
Challenges and criticism: Despite its success, the company had to withdraw an advertising campaign, "The Jaket," due to the controversy raised.
Logistics and distribution: The company maximized operational efficiency through a highly efficient logistics network, keeping 50 percent of production close by (in Spain, Portugal, Morocco, and Turkey).
Global presence: Inditex has stores in over 90 countries and an online presence in over 200.
Leadership philosophy: Marta Ortega has been humble about her compensation, keeping it modest compared to that of the CEO, Oscar Garcia Maceiras, indicating a focus on business results rather than personal gain.

Inditex stock, owner of the Zara brand, is at an all-time high - 13/03/2024

Inditex stock closes higher: +7.7% to €44.26.
Sales increase in constant currencies from Feb. 1 to March 11: +11%.
Sales increase in the year ending January 2024: +10%, reaching 36 billion euros (about $39 billion).
Expansion in the United States with the opening of Zara stores in Los Angeles, Las Vegas, and Cambridge, Massachusetts, as well as the first Massimo Dutti store in Miami.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Zara (Itx Italia s.r.l)

OVS s.p.a

Benetton Group s.r.l

H&M (H&M Hennes & Mauritz s.r.l)

Original Marines s.p.a

Simonetta s.p.a

Miniconf s.p.a

Monnalisa s.p.a

Ellepi s.p.a

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