The Assomac 2025 annual assembly, held in Bergamo at the Kilometro Rosso innovation district, brought together the key players in the technology supply chain for leather goods, footwear, and tanning. The event, titled “Growing, Collaborating, and Innovating in a Changing Europe” and moderated by journalist Luca Orlando, highlighted the challenges and opportunities of a sector undergoing profound transformation amidst global competitive pressures and the need for an internal strategic evolution.
The Address by President Mauro Bergozza
In a frank and direct opening speech, Assomac President Mauro Bergozza began by admitting that “things are not going well,” while expressing hope to present positive data before the end of his term. From the stage of Kilometro Rosso, a place he called a “symbol of innovation,” Bergozza painted a complex picture for the sector, dominated by the growing and relentless pressure from Asian producers. He provided stark figures: in 2023, China produced 12.3 billion pairs of shoes, accounting for 55% of global production—an overwhelming volume compared to Europe’s 611 million pairs, of which 148 million were Italian. The challenge, he specified, is no longer just about the finished product but about the technology itself, with China also becoming the main supplier of machinery for these markets. As evidence of a certain European inertia, he cited low participation in strategic Asian trade fairs, a symptom of “true business desperation.”
Faced with this scenario, Bergozza launched a decisive call to action, identifying aggregation as a strategic necessity that could no longer be postponed. He highlighted that over 70% of Italian companies in the sector are micro or small businesses, often family-run—a fragmentation that limits their ability to invest and compete globally. For this reason, he pointed to mergers, acquisitions, and alliances as the primary path forward, citing success stories in other sectors, like STMicroelectronics, and in the luxury world, where large groups have integrated their supply chains to strengthen quality and positioning. He also mentioned opening up to external capital as another lever for growth, as demonstrated by the journey of Forestali, a member company. To underscore the urgency, he revealed a worrying statistic: the number of Assomac member companies has dropped from 174 to 135 in just ten years.
His plan is articulated on three pillars:
• Uniting to Compete: Mergers, acquisitions, and alliances are no longer an option but a “necessity to survive and grow.” Companies are “too small to compete” on their own.
• Innovation and Cultural Shift: It is crucial to set a pace of innovation that competitors struggle to match. To support companies, which are often unaware of their own level of digitalization, Assomac has launched a free digital assessment program.
• Supply Chain Collaboration: Bergozza proposed a joint working group with other associations in the fashion supply chain (like UNIC – Italian Tanneries) to strengthen the system’s competitiveness, influence European innovation policies, and counter unfair competition.
A moving tribute was then paid to the memory of Mario Pucci, the “journalist with a suitcase” as he liked to call himself. Pucci was a historic figure who, for a quarter of a century, was an architect of Assomac’s international prestige, thanks to his vision and his “business diplomacy.”
The Intervention of Maurizio Tarquini from Confindustria
Maurizio Tarquini, Director General of Confindustria, acknowledged the extraordinary resilience of Italian industry, which has navigated continuous crises, from 9/11 to COVID-19, while maintaining a prominent global position. Despite increasingly short economic cycles interrupted by traumatic events, Italian companies have become the world’s fourth-largest exporter and, at certain sizes, perform better than their German counterparts in terms of productivity. However, Tarquini pointed to the obstacles holding businesses back, chief among them a bureaucratic cost that is double Germany’s and erodes up to two percentage points of margin in the manufacturing sector. He cited Law 231 as an example, a well-intentioned regulation that has transformed into a bureaucratic “hell.”
Tarquini urged policymakers to “believe in enterprise,” moving beyond a populist approach that often hinders rather than supports wealth creators. He recalled a famous quote from an entrepreneur: “What would you ask the government? To let us work.” He mentioned Confindustria’s concrete initiatives, such as proposing 80 zero-cost simplification measures and fighting to decouple energy prices, to make the business environment more competitive. Finally, he presented two tools available to companies: the “Expanda” platform, which analyzes the export potential of 5,000 product categories worldwide, and the digital assessment agreement with Assomac, stressing that digital innovation and artificial intelligence are now indispensable for staying competitive.
The Role of ICE with Maurizio Forte
Maurizio Forte, Director of the ICE Agency, reiterated the agency’s commitment to acting as a partner for businesses, seeking to guide them into international markets. He emphasized the importance of a collaborative approach, where promotional strategies are defined jointly with trade associations like Assomac to ensure resources are invested where they can yield the greatest return. Forte confirmed support for strategic events like Simac Tanning Tech, which represents a prime example of effective supply chain collaboration, and mentioned the commitment to overseas fairs in key markets like India and Hong Kong. He also highlighted the focus on new geographies such as Latin America and Africa, where it is necessary to “sow today to reap in ten years.”
The Vision of Giuliano Noci
The speech by Giuliano Noci, Vice-Rector of the Politecnico di Milano, was a genuine shock to the audience, challenging the sector’s long-held beliefs. While acknowledging the “extraordinary positive bias” that Made in Italy enjoys, he warned that past excellence does not guarantee future success. The crucial problem, according to Noci, is the dramatic delay of Italy and Europe in digital transformation. He reeled off damning Italy is fourth to last in Europe for digital skills and invests less than 5% of what the United States invests in artificial intelligence. He used the example of Volkswagen, which “threw away” €22 billion on electric car investments because it approached the transition with a “mechanical mindset” rather than a digital one.
Noci’s thesis is radical: the future of the sector no longer lies in the ability to transform raw materials into manufactured products, but rather in managing data. Companies must evolve from machine suppliers to service providers, offering customers the optimized operation of their plants. This, according to Noci, is “the only hope for salvation from the Chinese,” who will continue to produce ever-better machines at lower costs. Artificial intelligence is not a bubble but an inescapable force that will compel companies to make this transition. He used a powerful metaphor: “Artificial intelligence is like air; it will enter every nook and cranny. If we don’t ride this wave, we will run out of air and die of asphyxiation.” Anyone who denies it, like an entrepreneur who called AI a bubble, is destined to disappear: “Peace to his soul and his company,” Noci commented dryly.
The Round Table: Scenarios and Strategies for the Future
The day concluded with a round table that delved into the key themes that emerged during the assembly.
• Luca Sburlati and Erika Andreetta, experts in the fashion system, confirmed the market’s difficult moment, with a contraction in consumption and a shift in the strategies of major brands. Sburlati highlighted the shift from purchasing a product to purchasing an experience, urging machinery manufacturers to support this change by, for example, integrating AI for quality control. Andreetta stressed how the fragmentation of the Italian supply chain makes it vulnerable to trends like “see now, buy now,” which reduce production batches and increase volatility.
• Guido Cami, president of Industrie Chimiche Forestali, a listed chemical company, offered a practical example of how company size is fundamental to facing what he called “incredible turbulence” unseen in his 40 years of work. His company pursued two strategies: diversification (from footwear to automotive and packaging) and growth through acquisitions to achieve “critical mass.” This has enabled investment in R&D, with 24 dedicated people in a company of 153. Echoing Noci’s speech, he stated: “We have transformed into a service provider. We don’t just produce adhesives; we sell a service that helps our clients bond two components that need to stay together.” This approach, he concluded, creates a value that Chinese competitors cannot match.
• Alberto Russo, an M&A expert, confirmed that M&A activity among SMEs is very active, with a growing number of entrepreneurs looking to acquire other companies to grow. Private equity funds are also showing interest in deals involving companies with an EBITDA above €2-3 million, with valuation multiples around 6-6.5 times EBITDA.
• Micaele Pietro Golferenzo, a private banker, closed the loop by discussing generational transition, a moment he said causes “major stomach aches” for entrepreneurs. He explained that a business continuity strategy and a solid managerial structure are crucial factors for banks. A company with a clear succession plan obtains a better rating and, consequently, access to credit at lower costs—an essential element for financing growth and innovation.