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Mexico: footwear industry expects to close 2021 with growth


The Chamber of the Footwear Industry of the State of Guanajuato (CICEG) forecasts that the footwear industry will close the year with growth of 25%, on a comparable basis to 2020

Nonetheless, the association noted that despite the improvement, the figure should still be down by 20%, on a comparable basis to 2019, as the industry was severely affected by the COVID-19 pandemic last year. Alfredo Padilla Villalpando, President of CICEG, added that the coming period of Holidays (Christmas and New Year’s) will be the last opportunity for the companies in the footwear sector to strengthen their recovery.

“This reality reflects, without a doubt, the impact of the COVID-19 pandemic in our industry. We need stability in the market to attract investors and continue betting on our businesses, to buy machinery, open new factories and hire more people”, commented Villalpando, President of CICEG, as reported by CueroAmérica. In the same line, he stated that  in the same way businessmen assess risks and invest, “the authorities have also the responsibility to take care of and generate stable economic scenarios to motivate private initiative to invest”.

Mexican Footwear Industry

According to the World Footwear 2021 Yearbook (more information available HERE), Mexico is the ninth-largest footwear producer in the world, having produced 165 million pairs in 2020. Its industry, highly concentrated around Guanajuato and focused mostly on the domestic market, was strongly impacted by the temporary and definitive shutdowns of stores across the country during the COVID-19 pandemic. Footwear imports and exports (the latter predominantly directed at the USA) both over the year.


Image Credits: roadaffair.com


 
 
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