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Summary and extracts
1 Market Overview
1.1 Definition and presentation
A sock is an article of clothing worn on the feet and often covering the ankle or part of the calf. Long dedicated primarily to men, the sock market has evolved tremendously in recent decades, and now caters to the entire Italian population. We are seeing new trends that have made the sock a true fashion accessory. The sock market can be segmented by type of product (casual, formal, athletic, specialty, and others), material (nylon, cotton, polyester, wool), demographics, distribution channel, and regional analysis.
The size of the global sock market reached nearly $43.6 billion in 2020, and is expected to grow further at a CAGR of 6.3 % over the forecast period 2021-2026 to reach a value of about $61.5 billion by 2026.
In Italy, the hosiery experience has changed dramatically over the years. From being a clothing accessory with a purely functional role, hosiery has become a key complement to men's and women's wardrobes, and thus a fundamental part of the fashion world. Today, those in the industry see the future with optimism because the industry is moving toward great technological innovation. Moreover, there are no manufacturing concentrations in the world that can keep up with the Italian industry, and in particular the Castel Goffredo district. Testimony to the vitality of the industry, which is always looking for new challenges and challenging goals, is also the fact that Italian hosiery is the pride of entrepreneurs who have staked everything on satisfying customer needs.
There are about 500 companies operating in the sector in Italy, 70 % of which are located in the aforementioned Castel Goffredo district. The surprising success and development of the companies in the market is largely due to the small companies and workshops that have provided the elasticity needed to maintain the competitive advantage of larger companies at high levels.
1.2 The global and European market
The global sock market has been growing for years. If we take into consideration revcavi, we can see that these grew at a CAGR of *.**% between **** and ****, and it is expected that the market will reach revenues, in ****, worth **.** billion, a growth at a CAGR of *.*%.
Sock Market Revenues World, **** - ...
1.3 The Italian market
In Italy, the hosiery sector in recent years has had a somewhat unstable trend. The sector has been severely affected by the Covid crisis, despite in fact a good performance of products for home wear has been countered by a collapse in sales of women's pantyhose and stockings. The result is ...
1.4 Foreign trade
For the analysis of this section, data reported by UN COMTRADE for the HS commodity code"****- Hosiery ;tights, stockings, socks and other hosiery articles, including those with graduated compression (***) and footwear without applied soles, knitted or crocheted."
As can be seen, Italy is a strong exporter of hosiery items. Throughout ...
2 Demand analysis
2.1 The influence of the footwear industry
One of the main drivers of demand for hosiery comes from the footwear sector. The purchase of footwear by Italians over the past decade has slowly declined, except between **** and **** where there was a sharp drop in consumption. This is due to the **** closures, but also due to the need to ...
2.2 The characteristics of demand
Domestic hosiery consumption, according to Sistema moda Italia calculations, was about *** million euros. The best-selling type of hosiery turns out to be tights, which is worth ** percent of the value sell out for the women's segment. The best growth performances in recent years, however, have been other types of hosiery: from ...
2.3 Demand Trends
The year **** has had a strong effect on the consumption patterns of Italians. The hosiery sector has also been affected by this wave of change, which has prompted the industry to innovate strongly, starting with new eco-sustainable yarns.
Indeed, customers have opted for comfort products to wear during long home periods. ...
3 Market structure
3.1 Market Structure and Dynamics
The hosiery market appears to be quite fragmented in Italy. According to ISTAT data, there were *** companies as of ****. It can be seen that there has been a sharp decrease in companies in recent years, with a ** percent reduction between **** and ****.
Evolution number of Companies active in the production of knitted ...
3.2 The District of Castel Goffredo
The Castel Goffredo district, located in the northern belt of the province of Mantua and neighboring cities, is the main industry cluster in Italy. It has developed in Italy since the ****s and covers an area of ***km. the area's manufacturing specialization is in the production of hosiery of all kinds, ...
3.3 The sock production process
There are * main steps in sock production:
Source: ****
The different linking techniques mentioned are as follows:
Stitches are taken up one by one to obtain invisible seams. Note that this technique is handmade and therefore used for high quality products because of the labor required; Russo linking (***), which is totally automated; Line ...
3.4 Distribution Channels and the importance of digital commerce
Distribution is closely associated with product segmentation. Depending on whether the product is cheap and low quality, mid-range, or luxury, distribution will be through different channels.
Economic segment
Most of the products in this segment can be found in large-scale retail, particularly in:
Outlet Mega-stores Markets
Manufacturers of these products, often ...
4 Supply analysis
4.1 Type of Products
Many types of stockings are on the market today. They are distinguished according to[***]: The shape of the stockings: the high stockings, which cover the calf and are generally made of relatively fine fibers; the socks, which are the very low socks that stop below the ankle; the "classic" socks, which ...
4.2 Price Analysis
As a guide, the following table shows the prices of representative products in the hosiery market according to different major brands in the market.
Source: ****
5 Regulations
5.1 Regulation
Labeling Standards
According to the Ministry of Economic Development, the textile and clothing sector is governed by European Regulation No. ****/****, which establishes rules on the labeling of textile products. In Regulation (***) No. ****/**** there are no other information requirements other than to indicate on the label the fiber composition of textile products ...
6 Positioning of actors
6.1 Segmentation
- Calzedonia Oniverse
- Pompea
- CSP International
- Fast retailing Group Unoqlo
- Bleuforêt
- Autotex Italia
- Lonati Group
- Gallo
List of charts presented in this market study
- Value of knitted and crocheted footwear production
- Breakdown of sales of knitted and crocheted footwear
- Global Sock Market
- Turnover of enterprises active in knitted footwear production
- Value of production
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Latest news
Oniverse (formerly Calzedonia), revenues at 3.1 billion, strong push on foreign retail - 29/02/2024
- Total revenues: 3.1 billion euros.
- Revenue increase from 2022: +2% at current exchange rates.
- Share of foreign sales: 62% of total.
- Number of stores at year-end: 5,644.
- New openings during the year: 314 stores (+6%).
- Number of stores in Italy: 1,912.
- Number of stores abroad: 3,732.
- Countries with most new openings: the United States, France, Spain and Brazil.
- Total investment: 563 million euros (openings, technology, logistics, ESG).
- Future initiatives for 2024: development of Intimissimi Uomo and redevelopment of existing Calzedonia, Intimissimi and Tezenis stores.
Oniverse (formerly Calzedonia) invests in omnichannelity: Digital Hub It kicks off in Naples - 31/01/2024
- **Oniverse Goal**: Respond faster to the needs of dynamic and ever-changing markets by ensuring scalability and reliability of omnichannel platforms.
- **Launch Digital Hub IT**: Starting in March this year, dedicated to the development and management of technologies related to the Salesforce world and beyond, located in the Maritime Station in Naples.
- **Induction program for new resources**: Training path supported by experts from the Federico II University of Naples and K2 Partnering Solutions to deepen knowledge about Salesforce in the first three months.
- **Contribution of new resources**: Upon completion of the training, they will contribute to the development of Oniverse's omnichannel roadmap.
- **Organized visits**: At headquarters in Verona and other national and international specialization hubs.
- **Oniverse brands**: Calzedonia, Intimissimi, Intimissimi Uomo, Tezenis, Falconeri, Signorvino, Atelier Emé, Antonio Marras, Cantiere del Pardo, Grand Soleil Yachts, Pardo Yachts, and Van Dutch Yachts.
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the sock market | Italy
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