The Board of Directors of the company – a leading player at both national and international level in the design, production and marketing of high-tech adhesives and fabrics, listed on the Euronext Growth Milan market of Borsa Italiana – meeting under the chairmanship of Mr Guido Cami, approved the draft financial statements on 26 March and reviewed the consolidated financial statements as at 31 December 2025, both prepared in accordance with International Accounting Standards (IAS/IFRS).
The 2025 financial year closed with a turnover of €72.6 million, an EBITDA of €9.7 million (EBITDA margin of 13.3%) and cash generation of €6.2 million.
As highlighted by Chairman Guido Cami: “These are highly commendable results given the external circumstances. Activities in the footwear and leather goods sectors continued to suffer from the slowdown in sales among our customers worldwide, but activities in the automotive and industrial sectors more than compensated for this in terms of volume.
During 2025, projects were launched in sectors new to Forestali, primarily targeting industrial markets, which bode well for the future.
Commercial diversification is a key strength that makes our organisation resilient to ‘disruptions’ and a solid point of reference for supply chains across many markets. We have fully completed the investment plan set out in the budget and consolidated our product and system certifications to ensure we always meet customer requirements, in line with the European Union’s complex regulations on sustainability, environmental impact and circularity. We are therefore well-equipped and prepared to tackle the new year, which in its first two months has begun along the same lines as the second half of 2025”.
In the photo: Tobias Alando, CEO of KAM (center), and Mauro Bergozza, President of Assomac (right)
Assomac, the national association of Italian manufacturers of footwear, leather goods, and tanning, announces that it has signed strategic agreements with the Kenya Association of Manufacturers (KAM), on behalf of the Italian supply chain also represented by UNIC (tanning) and UNPAC (tanning chemicals), and with Equity Bank Kenya Limited to promote, through the supply of Italian technologies and machinery, the development of the leather value chain in Kenya. Italian technology for the leather-footwear-leather goods supply chain represents a strategic industrial asset, capable of transforming raw materials into high-value-added products that are highly competitive on global markets. With this in mind, the agreement—formalized on March 26 on the sidelines of the Leather Side Event in Nairobi, as part of the Kenya International Investment Conference, promoted by the Ministry of Investments, Trade and Industry in partnership with the Kenya Leather Development Council and the Kenya Investment Authority—consolidates collaboration with KAM and local technical centers, aiming to create a competitive and sustainable ecosystem capable of integrating Kenyan companies into the sector’s global production chains. The partnership with Equity Bank Kenya Limited will, in turn, facilitate local buyers’ access to financial instruments for the purchase of Italian machinery and technology, giving them the opportunity to develop products that meet international quality standards in the future and strengthen their presence in foreign markets. Mauro Bergozza, President of Assomac, explains: “This project promotes the development of a structured manufacturing system, in which Italian technology and machinery play a leading role, representing a true strategic asset for the global leather industry. ‘Made in Italy’ does not only mean excellence and quality, but also the ability to transform raw materials into high-value-added products. With our wealth of expertise and integrated supply chain models, we aim to make a concrete contribution to the development of sustainable and competitive production ecosystems worldwide, strengthening the potential for Kenyan companies to establish a presence in international markets.”
The initiative is consistent with the priorities of the Mattei Plan, representing a contribution by the Italian industrial sector to development dynamics and economic cooperation with African countries, and is part of the “Sistema Italia” approach, involving a coordinated effort by companies, associations, and institutions: from development cooperation, through the AICS Agency, to the internationalization and promotion of Italian companies with the support of the ICE Agency. All of this is closely coordinated with the Italian Embassy in Nairobi and local government bodies to ensure the concrete implementation of investment plans in the country. The project is also part of a broader framework of ongoing activities by Assomac in Africa, with initiatives already underway in Egypt, Niger, Senegal, and Tunisia, and future prospects for Ethiopia, Mali, Morocco, and Namibia. Last week’s meeting followed an initial exploratory mission last June, during which Assomac, together with the Italian associations UNIC and UNPAC, analyzed Kenya’s potential in terms of raw materials, expertise, and industrial prospects, sharing a strategic document with local institutions and entrepreneurs that helped strengthen the dialogue between the two countries and laid the groundwork for launching the initiative.
The Italian footwear, leather goods, and tanning technology sector, together with the tanning industry and related chemical products, has a well-established presence in the world’s major manufacturing hubs and plays an active role in the development of the leather industry supply chains. Over 70% of the sector’s production is destined for international markets, with significant exports to Europe, China, Vietnam, India, Turkey, Brazil, Mexico, Indonesia, Pakistan, South Africa, and various African countries undergoing industrialization. In this context, Italian technologies provide concrete support for the emergence and growth of new supply chains, offering know-how, established regional clusters, and globally recognized technological expertise.
Mauro Bergozza, President of Assomac, with Moses Nyabanda, Managing Director of Equity Bank Kenya Ltd
Our Trend Analyst Maria Cristina Rossi guides us to discover the main trends seen on the catwalks:
Four houses set the tone for autumn/winter with remarkable consistency. Prada turned layering into philosophy, with looks peeled back each runway pass to reveal entirely new outfits beneath. Dolce & Gabbana reasserted their core codes — Sicily, black, lace, tailoring — with zero nostalgia. Etro wove tartans, paisley, and medieval references into a rich cultural collage. And Marni‘s new designer Merel Rogge made a quietly powerful debut, returning to the house’s founding spirit with a lived-in wardrobe of painterly prints and earthy tones.
Filtered through bags and shoes, three trends define the season. Fur remains unapologetic, wrapping pumps and softening bag shapes with a sensuality that refuses to fade. Gold has gone fully democratic, showing up on everything from flat sandals to knee-high boots — less adornment, more attitude. And embroidery emerges as the season’s defining craft statement, with intricate beading, cross-stitch, and floral appliqué transforming accessories into artisanal objects. Fashion, this season, is making a case for slowing down.
The leather industry has mobilized to call for a revision of the EUDR, the European Union Deforestation Regulation, which is set to take effect in 2027. Several representative organizations, coordinated at the global level, have submitted a joint request to European institutions to remove bovine leather from the scope of the regulation. The International Council of Tanners (ICT), supported by the International Meat Secretariat and ICHSLTA, has sent a formal letter to European Commission President Ursula von der Leyen requesting the exclusion of bovine leather from the Anti-Deforestation Regulation. The request reiterates that there is no scientific evidence linking leather to deforestation. On the contrary, independent evidence, such as the study by the Scuola Superiore Sant’Anna in Pisa, indicates that leather is a byproduct of livestock farming, playing no decisive role in the economic dynamics that could lead to forest destruction. For this reason, the exclusion is considered a coherent and useful measure to make the legislation more balanced and practical. Concerns also center on the potential economic consequences: according to COTANCE, the current regulatory framework could significantly limit the supply of raw hides to European companies in the sector, with negative effects on competitiveness, costs, and the entire production chain.
The Leather Working Group announces the appointment of Catherine Lee, a representative of the Adidas brand, to its Board. “We would also like to express our sincere thanks to Jon Hopper, Senior Director, Global Materials Supply at VF Corporation, for his dedicated service as an outgoing Board member and for his invaluable contributions to LWG’s work over the past eight years” they add. “His commitment and support have played an important role, and we are truly appreciative of the time, expertise, and passion he has brought to advancing our mission”. It may be worth noting that the Leather Working Group is an international organization that evaluates and certifies tanneries based on their environmental performance. Its goal is to promote sustainable and responsible practices in leather production. Catherine Lee is Senior Director, Product Development at adidas and she brings extensive experience in sourcing operations and material development, with strong expertise in aligning strategic sustainability goals, regulatory requirements and operational readiness. Her appointment is effective from 1 April, 2026.
The future of leather lies in saving 7.5 million litres of water – an impressive amount equivalent to three Olympic-sized swimming pools or the load of 250 large industrial tankers. This is the calling card of ‘Hearth’, the new sustainable production line launched by Rino Mastrotto with an innovative tanning process capable of reducing water consumption by 91%, chemical use by 23% and CO₂ emissions by 22%.
‘Origini’: the S/S27 collection
Alongside technical innovation, Rino Mastrotto presented the “Origini” collection at Lineapelle. In an era dominated by the artificial and the digital, Origini stems from the need to rediscover the beauty of everyday life and the tangibility of touch. The textures are light, designed to play with light and offer a timeless elegance that invites authentic human connections.
In ‘Origini’, colour becomes a true emotional language: the palette ranges from whites and bleached tones to blues, light blues and greens that represent water. Beige, pink and khaki combine nature with metropolitan dynamism. Browns, traditionally associated with winter, acquire a new softness and sensuality thanks to the summer light, whilst yellows and oranges give the season a vital charge.
There was a palpable sense of reassuring energy and vitality at the latest edition of LINEAPELLE, the 107th edition, despite the fact that the dates had to be brought forward due to the use of parts of the Fiera Milano Rho venue for some of the venues of the Milan-Cortina 2026 Winter Olympic Games, which led to a reduction in the number of trade visitors (around 16,000) from 99 countries. On the exhibitor front, 848 companies took part (436 tanneries, 290 accessory suppliers, 95 synthetic material suppliers, 27 others) from 33 countries, presenting their new collections of leathers, materials and accessories for the 2027 summer season.
Innovation and the search for materials and solutions capable of expressing a very high degree of naturalness and sophisticated craftsmanship throughout the supply chain were the key areas of focus for buyers, visitors and the LINEAPELLE projects. This was evident in the 22 installations in the INTERIORS area, a creative platform now in its third edition that fosters links between design firms and leather and materials manufacturers.
There was also great interest in the talks scheduled at the Fashion & Science Theatre: ranging from sector-specific sessions (such as in-depth discussions on regulatory and technical issues relating to the leather supply chain) to more fashion-focused events, such as the conversation between journalist Mariella Milani and designer Antonio Marras.
A significant development was the debut of a new trade fair partnership with FILO – the leading exhibition for the yarn and fibre sector – which gave visitors an even broader overview of the product range on offer.
The next edition of LINEAPELLE is scheduled for 15 to 17 September 2026, once again at the Fiera Milano Rho exhibition centre.
Specialty chemicals company TFL announced that it will introduce temporary surcharges on freight and product costs with immediate effect. “The measure addresses the sustained disruptions and increased expenses in global logistics and raw material supply chains resulting from the ongoing conflict in the Gulf region”.
And furthermore: “The surcharge levels depend on product group, manufacturing site, and shipping route. They will remain in place until the market situation stabilizes and will be reviewed regularly”. TFL is working closely with its partners to ensure supply reliability and to minimize the impact of these exceptional external factors on customers.
As is tradition, the Design-A-Bag 2026 competition concluded with the final awards ceremony on March 12 during APLF 2026 in Hong Kong. The jury crowned Phan Nguyen Hoai Thuong, from Vietnam, the overall winner for her inspiring and versatile creation, “The Unbowed Bag,” a symbol of resilience in chaos that represents strength, composure, and an indomitable spirit. Hoai Thuong is a design student at Hoa Sen University, and “The Unbowed Bag” is actually her very first project, making her achievement all the more incredible. The prize includes a 4-week course in Collection Development at the Arsutoria School in Milan, valued at 4,500 euros, along with a 1,000-euro contribution toward housing. Second place went to Zhuo Wei Si from China for her practical and functional creation, called “Berlin Bag.” Zhuo Wei Si will receive an 8-day training course at Simona Tanning’s L.E.A.T.H.E.R Academy in Ninh Binh, Vietnam. Third place went to Nilgun Demirhan from Turkey for her innovative yoga bag, a project titled “BELONGING.” With her talent and creativity, she designed a bag that perfectly blends athleisure style with her lifestyle. All three finalists will receive a cash prize of $500 and a one-year subscription to www.arstrends.com and the “ARSUTORIASTUDIO” Trends Guide, valued at $550.
This year’s competition benefited from a carefully curated judging panel that brought together diverse perspectives from across the fashion and leather industry. Each judge evaluated the entries through a unique lens, ensuring a comprehensive, versatile and balanced assessment. This multifaceted approach elevated the standard of judging and provided invaluable insights for all participants. * Mr. Olivier Vedrine, Architect-Designer & Production Designer of OO Agency Paris: Bringing a designer’s eye for creativity and artistic vision * Mr. Stefano Migliavacca, International Projects Manager of Edizioni AF: Representing media expertise with a focus on innovation and industry trends * Ms. Alane Becker Marder, Head of Marketing & Sustainability of Simona Tanning: Offering a tannery perspective on practicality, quality, and sustainability * Mr. Ard-ong Winyoopradist, Director and CMO, Xotique Company Limited: Providing brand owner insights on marketability and commercial viability
Registration for DAB 2027 will open in September of this year.
The three finalists and the judges of the Design a Bag 2026 Competition at the awards ceremony during APLF on March 12The project that won first prize, by Phan Nguyen Hoai Thuong of VietnamThe design by Berlin Bag, which took second placeThird place went to Nilgun Demirhan for her innovative yoga bagThe Cogon Bag won the Facebook Award
The more technology we add underfoot, the more we risk forgetting how the foot actually works. Vibram knows this well — eighty years of high-performance soles provide a unique insight into the way we walk, run and inhabit the world. And it is precisely from this deep understanding that Vibram Essential is born, the new SS27 collection presented during Milan Fashion Week in an immersive exhibition space on Corso Garibaldi.
Less is more. But only if you know exactly what you’re taking away. The name Essential, in fact, is not a minimalist marketing exercise, it is a statement of method. The philosophy behind the collection stems from a radical idea: minimalism is not simply about reducing the thickness of the sole, but about initiating a progressive process of reducing structural intervention, restoring the foot’s natural biomechanics. Eliminating the superfluous, improving ground feel, restoring freedom of movement.
Rooted in Vibram FiveFingers’ decades of experience, the Essential line is structured across three coherent evolutionary levels. The first is Low-Drop, featuring a slight drop between heel and forefoot: designed as a gateway to minimalism, it combines structural support with a natural stride. The second level, Minimal Soles, interprets everyday urban life with a sleek, snug fit, contemporary in style without compromising on functionality. The third and purest is Barefoot-Inspired Constructions/Comfort: a wide anatomical shape, zero-drop constructions, total freedom for the midfoot and forefoot. The truest expression of barefoot living.
Adding depth — cultural depth, not the thickness of the sole — to the collection are the collaborations: Buttero, Lemaire, Fabiana Filippi, Harmont&Blaine, Primigi and other brands have reinterpreted the concepts of FF CUP and Minimal Fashion according to their own codes. A dialogue between worlds that confirms just how versatile Vibram technology is: from the mountains to the catwalk, from performance to urban aesthetics.
The step that matters is the one towards footwear that stops compensating and starts listening. With 40 million soles produced every year and a presence in 120 countries, Vibram demonstrates that innovation, at times, means having the courage to take a step back, to walk much better.
