The trade association for textile shoes and leather goods (BTE) once again emphasized the difficult economic situation in the industry in Germany on Friday. According to a survey by the association, last year “almost a third” of the participating companies ended up “deep in the red” operationally, the industry organization said in a statement.
“After two highly problematic Corona years with sometimes high business losses, a large proportion of companies have not yet fully returned to normality,” admitted BTE Managing Director Rolf Pangels in a statement.
The prospects for the foreseeable future are not rosy either, given the ongoing impact of the Russian attack on Ukraine. “In view of the probably further increasing costs and at the same time uncertain sales development, around half of the companies are likely to have problems or get to make the necessary investments in their competitiveness,” explained Pangels.
The current mood in the industry is therefore mixed. Although forty percent of the companies surveyed by the association “expected a significant increase in sales compared to 2022”, around a third feared a decline of “at least one percent”, the BTE announced.