Italian footwear eyes opportunities in Canada
17/02/2017
The Canada-EU Comprehensive Economic and Trade Agreement (CETA) was signed in October. It sees the removal of 98% of tariffs on goods traded between the two parties. It must be ratified by the European Parliament and the governments of all 28 EU member states before it can come into force.
During 2015, Canada imported 1.9 million pairs of shoes from Italy for a total value of €102.8 million. This represented decreases of 13% in volume but a 9% increase in value compared to the previous year. During the first ten months of 2016, the volume of footwear exports to Canada fell 4.6% but the value of these exports increased 10%.
“The ‘Made in Italy’ product is hugely popular in Canada,” explained Hagop Artignan, president of Chaussures Belini, a chain of retail stores based in Montreal. “The product is very appealing and could easily have a greater distribution in the country”.
He warned that during a time when the Canadian retail market is experiencing difficulties, Italy’s direct competitor Portugal, which often offers lower prices “is gaining terrain”.
“This is a shame because Italian footwear is still perceived as a top-quality product of unparalleled style,” he added. “With better promotion, it could recover lost quotas.”
Share this story:
