The final event in Arzignano on 14 May marked the completion of the programme of local meetings launched by the National Association of Manufacturers of Technologies for Footwear, Leather Goods and Tanning, in collaboration with SACE, Credem Euromobiliare and Studio Russo De Rosa, following events in Vigevano, Santa Croce sull’Arno and Civitanova Marche.
The tour brought together member companies and credit experts in a focused dialogue on the strategic priorities for the sector’s development – including generational transitions, governance and corporate finance – with the aim of strengthening a manufacturing system that is key to Italian exports within a competitive international landscape and enhancing the country’s position in global trade networks.
During the sessions, the Economic and Financial Report on the national machinery sector for tanning, footwear and leather goods was also presented. Compiled by Assomac’s Research Department, the report provides a synoptic analysis of the sector’s performance from 1995 to 2024, with the aim of offering a clear picture of industrial trends, international competitiveness and the financial soundness of manufacturing companies.
“Italian manufacturing represents an industrial and productive heritage that must be safeguarded and strengthened over time, preserving an integrated supply chain model that is unique on the international stage,” said Mauro Bergozza, President of Assomac. “To maintain this role, during our series of regional meetings we have highlighted how essential it is to adopt coherent, long-term strategies capable of supporting the competitiveness of businesses and the evolution of the production system in an increasingly challenging global landscape. In this process, platforms such as Simac Tanning Tech are taking on an increasingly central role, not only as an exhibition event, but as a meeting point for innovation, industry and the market, capable of bringing the supply chain together and showcasing Italian technological excellence.”
‘Made in Italy’ put to the test by globalisation
The report highlights how the ‘Made in Italy’ system is becoming increasingly vulnerable to globalisation, the relocation of production and growing competitive pressure.
Innovations, raw materials and finished goods form a unified network, affected by the same market trends and financial fluctuations that have a widespread impact on every single segment. In this context, the close connection between technological progress and manufacturing activity is the defining feature of the national approach, helping to ensure standards of excellence and ample scope for customisation at every stage of the value chain.
This structure has gradually transformed due to an organic shift: industrial output has declined over time in favour of higher quality standards, leading to a commercial focus on the most profitable areas, particularly in the luxury and premium markets.
Foreign trade is the primary driver for this cross-border sector, recording positive trends or declines influenced by global macroeconomic conditions; however, there is a shift in the goods offered, with tanning machinery and components gaining greater prominence at the expense of footwear production equipment. Of the total of over €290 million in overseas sales of technology and equipment recorded in 2024, €119 million relates to tanning, €53 million to classic footwear, €30 million to leather goods and €89 million to insulated components.
Solid financials but falling margins: the sector’s dual challenge
From an economic and financial perspective, an analysis of the financial statements reveals a sector that is structurally sound in terms of its balance sheet and financially stable. However, the sector is facing a slowdown in growth and more aggressive global competitive pressure, with direct impacts on companies’ profit margins.
Over the specific period analysed, there has been a very strong expansion in China, which by 2024 had become the world’s leading exporter at Italy’s expense, creating a clear dichotomy between the two competitors on the international stage.
While Beijing has assumed a dominant position in the footwear machinery sector, aided by price competitiveness and the ability to serve high-volume markets such as Vietnam, Indonesia and Bangladesh, linked to large-scale manufacturing, Italy still maintains a leading position in machinery for tanneries, leather goods and spare parts.
The ability to maintain a leading role on the global stage will depend on the capacity to combine financial strength, innovation and strategic vision, whilst proactively and synergistically addressing the transformations currently taking place within production chains and key markets.
To manage business continuity, generational succession and the evolution of competitive structures, it is also essential to adopt governance tools and organisational models that support corporate transformation processes, including through approaches such as wealth planning, family agreements and advanced corporate structures, complemented by forms of industrial integration: from mergers and partnerships to the sharing of expertise and the development of complementary offerings. At the same time, access to advanced financial instruments and insurance solutions for exports represents an important strategic lever for supporting internationalisation and growth in foreign markets, whilst investment in innovation and development remains essential for strengthening competitiveness and seizing new international opportunities.