MILAN — Haworth Life-style, which is dwelling to prime European furnishings and residential companies Poltrona Frau, Cassina, Cappellini and Zanotta, is gearing as much as increase its market share.
Now that Flos B&B Italia is reportedly able to dump components of its enterprise, Haworth Life-style seems to have a bonus within the European design market.
On Thursday, the Milan-based group stated it’s actively eyeing potential acquisitions to boost its galaxy of manufacturers, because it nears a income milestone.
“Now we have streamlined the construction of our holding firm,” stated chief government officer Dario Rinero, “not solely to make our group extra environment friendly but in addition to arrange for additional development. We’re approaching the milestone of 1 billion euros in income, and we purpose to be prepared for the following part.”
At a press lunch to kick off Design Week right here, the group revealed reorganization plans, grouping corporations beneath its umbrella into divisions. Poltrona Frau and Ceccotti CEO Nicola Coropulis will lead the Luxurious Division; Luca Fuso, CEO of Cassina, Zanotta and Cappellini, will lead the Design Division; whereas the Industrial Division shall be spearheaded by Ervino Riccobon. That features bespoke auto companies Poltrona Frau Interiors in Movement and the U.Ok.’s KJ Ryan Ltd., now absolutely a part of Poltrona Frau Interiors in Movement. The Retail Division shall be managed by Stefano Cazzaniga and that features luxurious furnishings retailer Luminaire, with a give attention to the U.S. market, and Interni, which makes a speciality of Europe and the Center East.
Philippe Starck poses with Cassina’s Volage Ex-S Night time Wooden mattress.
Lea Anouchinsky
“Now we have established inner divisions in Haworth Life-style primarily based on their positioning, proposition and competencies. These divisions will be capable to combine any future additions to help our development trajectory,” Rinero informed WWD.
By way of licensing, Luxurious Residing Group, which is led by Andrea Gentilini, stays the group’s key participant. In 2023, U.S.-based Ralph Lauren signed a long-term strategic take care of Haworth Life-style geared toward increasing the manufacturing and distribution of Ralph Lauren’s Italian-made furnishings.
Ralph Lauren
Carter Berg/WWD
Haworth Life-style is a part of Holland, Mich.-based Haworth Group, which booked $2.5 billion in gross sales for 2024, according to the prior 12 months. With this reorganization, the group is now divided into two branches: Haworth Life-style and Haworth Business.
In February, a supply informed WWD that Haworth made a casual provide of between 800 million euros and 1 billion euros for Flos B&B Italia’s furnishings division that was declined. On the time, Haworth declined to remark. The furnishings arm of Italy-based conglomerate Flos B&B Italia consists of vanguard manufacturers B&B Italia, Maxalto, Denmark-based Audo Copenhagen, Azucena and kitchen model Arclinea.
Regardless of a difficult market, acquisitions abound within the European furnishings and lighting business. Smaller participant Dexelance, which just lately modified its identify from Italian Design Manufacturers, reported revenues up 4.3 % to 324 million euros in 2024 and just lately took a stake in out of doors furnishings model Roda. In 2023, it took a majority share in Turri, a luxurious furnishings enterprise based in 1925 in Carugo close to Lake Como, and final 12 months elevated its stake to one hundred pc in lighting agency Axolight and stated it’s eyeing extra offers.
In October 2024, Nemo Group, owned by Milan-based lighting entrepreneur Federico Palazzari, added two crown jewels to its rising design hub of manufacturers with the acquisition of lighting-maker Fontana Arte and Driade, its first furnishings property.
