Core Insights - P PIPSA® is experiencing a historic development opportunity under new ownership, focusing on integrating traditional Spanish craftsmanship with modern production technology to innovate in the cowhide leather sector [2][3] Company Overview - PIPSA, founded in 1970 in Spain, specializes in the production and sale of natural cowhide leather, renowned for its exquisite craftsmanship [8] - In November 2023, Longfeng Leather Fashion completed a full acquisition of PIPSA through its subsidiary Colomer1792, initiating a comprehensive upgrade of the PIPSA brand and product line [9][13] Production and Technology - A new highly automated cowhide leather production facility is under construction, set to commence operations in early 2026, enhancing PIPSA's production capacity [9][13] - The facility will cover over 10,000 square meters and will be equipped with advanced international production equipment, aiming to establish an automated, intelligent, and standardized production system [13][14] Material Sourcing - PIPSA ensures superior quality by sourcing top-grade cowhide from Europe, particularly from specific regions in France, with an annual procurement volume of up to 500,000 hides during the optimal purchasing period from June to November [10] - Each cowhide will be traceable through laser coding technology throughout the production process, ensuring clear sourcing and quality [11] Product Applications - PIPSA's product range extends beyond luxury carpets to include cushions, blankets, and poufs, enhancing home decor with warmth and natural aesthetics [20] - The brand's cowhide is ideal for creating distinctive furniture and interior decorations, providing designers with endless creative possibilities [21] - PIPSA is innovatively applying cowhide in fashion, including high-end footwear, clothing, bags, and accessories, appealing to designers and consumers alike [22][24][25][26] Company Background - Longfeng Leather Fashion, established in 1995 and headquartered in Mengzhou, Henan Province, is an international enterprise and high-tech company involved in leather tanning, manufacturing, and brand retail [27] - The company is committed to sustainable development and has completed a full industrial chain model for sustainable leather, focusing on digital and intelligent manufacturing upgrades [27]