08 Jul LUXURY LIVING JOINS THE LIFESTYLE DESIGN GROUP
Transaction closing completed by Lifestyle Design, design division of the American giant Haworth, with the 100% acquisition of LLG
Lifestyle Design (Poltrona Frau Group) together with Haworth Inc has announced today the acquisition of Luxury Living Group, the Italian historical company operating in the high- end furniture with renowned licensed brands.
The acquisition will be made through Haworth Italy Holding, Italian subsidiary of the mother company Haworth Inc, while the newly acquired company will operate under Lifestyle Design Division, alongside brands like Cappellini, Cassina, Ceccotti, DZine, Karakter, JANUS et Cie, Luminaire and Poltrona Frau.
Over the last 30 years, Luxury Living has developed, produced and distributed high-end furniture Made in Italy on behalf of the most important international luxury brands: Fendi Casa, Bentley Home, Trussardi Casa, Bugatti Home beside its own Luxury Living brand.
A history of success built on craftsmanship, experimentation and precious materials, which dates back to the sixties thanks to the vision, passion and entrepreneurship of its founder, Alberto Vignatelli.
With an overall turnover of 90 million euros and approximately 250 employees, Luxury Living operates mainly through a worldwide network of 80 retailers along with 7 glamourous directly- owned stores: Milan (2), Forlì, Paris, New York, Los Angeles, Miami. The groups is also planning the reopening of the London store and two new flagship stores in Shanghai and San Francisco in 2021.
Olga Shvilli Vignatelli, wife of the founder and with him co-maker of the most recent history of the company, will retain her role as Vice President and passionate Brand Ambassador of the group.
Dario Rinero, Lifestyle Design CEO, said:
“I am honoured to welcome Luxury Living within our family today and I am proud that they have chosen our group to write a new page of their wonderful history.
Since I first met Alberto Vignatelli, I was genuinely impressed by his qualities, typical of the best Italian entrepreneurship: dream, vision, effective planning and determination, resilience, inner strength.
It is with pride that we take up his heritage to move forward in this journey with Olga and all the extraordinary people of Luxury Living Group.
We will grow together thanks to a large group, we will invest in the territory in new young talents to shape a new stronger and structured company, never forgetting its origins and founding values.
Olga Shvilli Vignatelli, Luxury Living Group’s Vice President, said:
“I am excited and enthusiastic; it is a privilege for Luxury Living Group to join such a solid and farsighted group as Lifestyle Design.
Each one of the acquired companies has preserved and fed its identity, the founders continue to contribute to their development and the financial strength of the group has allowed investing in new stores and plants. I therefore trust that Luxury Living as well we will soon develop important synergies and system efficiencies.
I live this moment as an award to Alberto Vignatelli, a dreamer and traveller, who put his heart into creating this jewel in the furniture world. And I am happy also for the many human and professional resources who have enabled Luxury Living to get this far.
Our new journey really starts now.”
Renato Preti, Luxury Living Group’s CEO, said:
“Luxury Living Group has long been world leader in the high-end furniture with an overall turnover of 90 million euros and an export rate equal to 95% of sales in 120 countries.
For its part, Lifestyle Design Group is by far the leader in the design furniture with eight winning brands in its portfolio.
The intent is on the one hand to keep taking advantage of our Group unique well-established competence and experience, and on the other hand to benefit from the synergies with Lifestyle Design by virtue of their extraordinary expertise, strength and commercial skills.
I am certain that in this way we will reach exceptional levels of development and profitability, given the fact that LLG business model is increasingly topical in a global business where reputation and guarantee of great international brands bring about a competitive edge.
We are open to evaluate other brands, open new stores in the main markets and increasingly cooperate with famous designers”
Lifestyle Design (Poltrona Frau Group) operates in Italy from the early 2000s gathering a constellation of the most important brands in the high-end furniture: Cappellini, Cassina, Ceccotti, Poltrona Frau (Italy), Karakter (Denmark), DZine, JANUS et Cie, Luminaire (USA).
With a turnover exceeding 500 million euros and 1.800 employees, it represents today one of the largest groups operating in the reference field.
Since 2014 the group merged into Haworth Inc, one of the most important world players in commercial furniture based in the United States, with a turnover exceeding 2 billion dollars and 8.000 members worldwide.
Milan July 7th 2020
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