Boxmark Leather, once a giant in automotive upholstery, is shifting its focus towards the defence industry as European demand for bolstered military capabilities rises.
The company, based in Slovenia, has partnered with existing clients to develop protective coatings for armoured vehicles and military gear.
Serial production is expected to begin by summer, according to CEO Marjan Trobiš.
Trobiš attributes this pivot not only to the ongoing global conflicts but also to the European Commission’s push to strengthen defence infrastructure.
The company is eyeing further contracts beyond Europe, with the first prototypes of its defence products now complete.
This strategic move comes as Boxmark navigates a challenging automotive market.
Once employing over 2,000 workers, the company now has just 360 on staff following a series of relocations and restructuring measures.
Despite a projected 30-40% revenue drop in 2025, Trobiš is optimistic, citing the promising early months of the year.