European Textile Industry at a crossroads
The European Textile and Clothing Industry faces a double challenge. On one hand, the coronavirus pandemic hit our sector more than others, recording a drop in turnover between 10% and 20%, when in retail trade it reached -25%. The trade deficit widened, particularly due to massive imports of masks and related products from China. On the other hand, the European Union has embarked on an ambitious process of green and digital transition, which has translated into a wave of regulation that will have a great impact on our companies.