Our Euro Elite report in 2021 noted how the Italian legal landscape, dominated by independent law firms, had been more resilient to the pandemic than initially predicted. A year later, with the global crisis still not over, the verdict still holds true. With its consistently healthy market, Italy’s future outlook remains positive.
Italian law firms across the board saw their turnover increase by an average of 4% in 2020 compared to the previous year. Looking at the firms with the highest turnover, only 10% registered a decline, while 20% were able to maintain the same revenues. Meanwhile, a striking 70% reported growth of varying degrees – from feeble to impressive. Within this group are, on the one hand, international firms with a strong Italian presence that were able to consolidate their position and, on the other, independent Italian players including Legance, Chiomenti and Advant Nctm, while multi-practice boutique firm Pedersoli also achieved remarkable success.