Footwear Sector: Second half, with caution
By the end of 2023, a perception of an "acceptable" year in the footwear industry may prevail, due to the rise in both domestic and international sales and stable employment. Specifically for the second half, the sector maintains a stance of "cautious optimism."
Global competitiveness relies on the elimination of customs tariffs and an increase in free trade, according to footwear manufacturers. They also believe that it is not the right time for legislators to add regulations, such as those introduced by the European Union, but rather to provide the support that the sector demands.
The industry is grappling with high inflation and weak economic indicators, in addition to the bureaucracy implemented by Berlin and Brussels, which burdens small and medium-sized enterprises, reported the Federal Association of the German Footwear and Leather Goods Industry (HDS/L).