The aim of this paper is to outline the main patterns of change in one of the most important Italian districts in relation to the transition process occurring in the central and eastern European Countries. The increased economic integration raises the necessity of rethinking the industrial district as a part of a wider framework of production. Therefore the internal reorganisation at the local level is interpreted combining two different approaches: the territorial perspective that is rooted in local development literature and the productive stages perspective, typical of the value chain analysis. After an overview of the main characteristics of the two complementary frameworks I will provide an interpretation of the recent evolution of the shoes industrial district of Marche. The information presented in the empirical session is based on a field study carried out during the period from December 2000 to August 2001. The research method relied on in-depth interviews with thirty-five local entrepreneurs.