Innovation and overseas markets: Mantua’s hosiery industry looks to the future

Overall, the sector is shifting from a phase of recovery to one of cyclical normalisation, with growth that is less linear and more exposed to fluctuations in international demand. In this context, company size, a strong presence in foreign markets and supply chain integration are emerging as increasingly crucial factors in sustaining competitiveness and resilience.

Topics discussed at the event on 2 July in Castel Goffredo, organised by Confindustria Mantova in partnership with CSC Centro Servizi Impresa, focusing on mergers and acquisitions and internationalisation. This forum reflects the need – one that is becoming increasingly important for local industrialists – to guide the industrial cluster through a transition that is not merely cyclical but structural.

Companies are, in fact, facing a profound transformation of their business model. Production alone is no longer sufficient to sustain competitiveness and profit margins: a direct relationship with the market, the ability to interpret demand and to develop a more comprehensive offering – going beyond the traditional product – are now key. This trend is also reflected in the analyses carried out by PwC Italia’s research department, which highlight how value creation is gradually shifting towards a broader product range – including underwear, corsetry and beachwear – and towards greater control over distribution channels and brand management.

The market for extraordinary transactions also confirms a shift in momentum. M&A trends, whilst taking place against a backdrop of stagnant volumes, are favouring increasingly targeted transactions, underpinned by industrial rationale and integration and development plans. This is a sign that, even within the hosiery and underwear sector, future growth will increasingly depend on the ability to consolidate and strengthen supply chains.

For the Mantua district, this is therefore a complex transition, in which established strengths – manufacturing expertise, deep local roots and specialisation – coexist alongside challenges linked to the fragmentation and size of the businesses, which are predominantly medium-sized. The issue of critical mass, together with that of innovation and market access, becomes crucial.

“Today’s environment is more complex,” comments Fabio Viani, president of Confindustria Mantova, “and calls for a qualitative leap: we need scale, integration and strategic vision. The Mantua hosiery cluster is part of the heritage of our manufacturing system, which we must safeguard. “As Confindustria Mantova, we want to support businesses through this phase, fostering opportunities for dialogue and providing practical tools to boost competitiveness. We reiterate the importance of a medium-term industrial policy to safeguard manufacturing clusters, which is currently lacking at both national and European level.”

“We are currently in a phase where the market is more challenging and less predictable than in previous years,” observes William Gambetti, the Mantua-based chairman of the Hosiery, Lingerie and Beachwear section of Confindustria Moda. “This means that companies in the district must adapt: it is no longer enough simply to produce high-quality goods; they must maintain a strong market presence, innovate their product range and also consider forming partnerships to tackle an increasingly selective global landscape. We need to return to working as a cohesive system in a structured way, to withstand the increasingly severe challenges of recent years.”

“Over the years,” added Massimo Bensi, president of the CSC Centro Servizi Impresa, “the companies in the District have always met the needs of various buyers thanks to their production flexibility, their ability to develop a range of products and their capacity for just-in-time delivery. This has been made possible through collaboration with small workshops and local artisans. Today, the challenge is to meet these needs through a more industrialised operational strategy that involves greater collaboration between the various organisations.”

“The revival of Mantua hosiery,” adds Samuel Marinelli, Tax Partner at PwC Italia – “will also inevitably depend on stronger integration within the supply chain, where synergies between companies and a commitment to manufacturing excellence can generate new opportunities for growth and innovation – opportunities that would be difficult to achieve without this alliance. The ability to work as a cohesive system and to orchestrate the entire value chain, from production to distribution, is today the real driving force behind competing effectively in global markets and ensuring sustainable, long-term growth.”