Complex situation of Spanish footwear
The sector is affected by various factors. Globally, rising raw material costs and the consequent increase in manufacturing costs, along with international geopolitical conflicts, impact business owners, as detailed by Marián Cano, General Secretary of the Federation of Spanish Footwear Industries (FICE).
Locally, the reduced purchasing power of the population and rising inflation result in decreased consumption. Additionally, the labor regulation proposed by the government impacts the industry.
According to Cano, "higher corporate taxation than that of neighboring countries would lead to the relocation of investments, the flight of taxpayers, and competitive disadvantages for our residents," reported FICE.