Here is an unusual fashion accessory from the famous British Fashion label AQUASCUTUM of London. The portfolio is designed to hold files or papers and made out of their famous checkered design in a gabardine drill fabric with a leather tab in the front. It makes for a great tablet or laptop carrier.
The edge binding appears to be cotton. This item was made by special request for the Italian Telecom (telephone) Company according to a stamp with their logo on the inside. I assume it was a special bonus gift or New Years Gift for Management. Leave it up to the Italians to come up with a chic carry bag for papers. Probably manufactured between 1975-1990 as a wild guess. Measurements are 26 x 40 cms /10.5x 15.5 inches, expands to approximately 7 cms /3 inches and has the customary pen holder inside.