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The most important goal is to «make clear and strengthen our id». Daniel Lalonde, CEO of the biggest Italian high-end furnishings group, which till yesterday was referred to as Design Holding and as we speak takes the identify of Flos B&B Italia Group, explains the rationale that led to the rebranding of the corporate, which is equally managed. by the worldwide non-public fairness funds Investindustrial and Carlyle, which incorporates in its portfolio, along with Flos and B&B Italia, additionally Louis Poulsen, Maxalto, Arclinea, Azucena, Fendi Casa, Audo Copenhagen and Lumens.
The want for change
«The concept of altering the identify of our firm developed during the last yr – explains the CEO -. The identify with which we have been born as a gaggle in 2018 has accompanied our improvement up up to now, however now we felt the necessity to undertake a extra particular identify, able to instantly figuring out the sector and trade wherein our firms function , i.e. the world of high-end designer furnishings and lighting, once we flip to our stakeholders: designers, architects, retailers, the monetary neighborhood and journalists”. The selection was to anchor the company id to that of the 2 best-known manufacturers, within the wake of what some massive luxurious teams do, particularly in style.
A selection that intends to «strengthen the group’s id inside the high-end design trade, straight linking the corporate identify to the 2 founding and best-known manufacturers on a world stage, Flos and B&B Italia, preserving the id values and the strategic imaginative and prescient of the group”, specifies Lalonde, who additionally highlights the selection of the time period “Group” to exchange “Holding”, underlining the significance, status and complementarity of all 9 manufacturers that make up the portfolio and that seem within the new emblem. «They are all vital and totally different, every with its personal id, its personal heritage, its personal DNA and its personal workforce of managers – specifies Lalonde –. Together they share the group’s values, mission and customary goals, specifically the vocation for innovation and the will to create magnificence by way of design”, as said within the group declare “We design for a ravishing Life”.
The improvement technique
Therefore, the technique of the group doesn’t change, which goals to be one of many main firms, at a world stage, within the “high-end design” section, and which is already as we speak the biggest firm in Italy by way of measurement: in 2023 Flos B&B Italia Group achieved revenues at GMV (Gross Merchandise Value) of 898.6 million euros, down 6.7% in comparison with 2022 at fixed alternate charges (however the contraction is lowered to three% if markets are excluded Northern Europe, which have been significantly affected by the disaster), after two years of robust progress, with turnover rising by 25.8% in 2022 in comparison with 2021 and by 28.9% in 2021 in comparison with 2020. Ebitda 2023 stood at 193 million euros, equal to 24.6% of gross sales, and the worth of the e-commerce channel (excluding Lumens) grew by 14% in comparison with 2022.
The improvement technique based mostly on 4 pillars due to this fact stays confirmed: strengthening of manufacturers; geographic enlargement, significantly in North America, China and the Middle East; improvement of a direct-to-consumer technique; progress of the high-end contract section. The industrial plan envisages natural progress of the businesses within the portfolio, but in addition progress by way of acquisitions. «There aren’t any operations being finalized at this second, however we’re always searching for new alternatives – specifies the CEO –: we’re firms with a price of round 50-70 million euros in turnover, or perhaps a little extra massive, complementary to our portfolio of manufacturers, positioned within the high-end section of the market and financially sound. Our aim is to develop these realities, along with all our manufacturers, by way of our frequent platform of digital infrastructures, distribution channels and contract tasks.”