Natuzzi chooses the stage of two among the most relevant global
furniture events, High Point Market in North Carolina, and the
Design Week in Milan, to unveil the dense program of events and
projects that will mark the calendar of its 65th anniversary.
Founded in 1959 by Pasquale Natuzzi, Natuzzi’s history has been,
from its initial steps, marked by continuous innovation, while
preserving its distinctive DNA that combines comfort, function and
design to create harmonious living spaces. Natuzzi has influenced
and inspired the furniture industry with its unique style and the
introduction of colors in leather sofas since the early 70s. It is
a story of success which led Natuzzi to the highest market share in
the US for a non-American producer, and subsequently to the listing
on Wall Street on May 13, 1993. Since the early 2000s, Natuzzi
started a journey to become a globally recognized Brand. Today,
92.5% of sales comes from our Branded proposition and 63.5% from
the retail channel. The Brand awareness, as validated by third
party independent brand research institutes1, positions Natuzzi as
the 1st Brand in the U.S., UK, and Spain, and the 2nd in China.
This achievement has been cultivated over the years through an
unwavering dedication to craftsmanship and design excellence.
Pasquale Natuzzi, Chairman and founder of the Company,
commented, "When I founded this Company, I never dreamed we would
achieve what we have achieved today with our team. Our
transformation into a lifestyle brand, which began with a vision I
initiated 20 years ago, has taken us far from our origins as a
manufacturer. It gives me great emotion to see our stores globally
bringing to life our Brand’s DNA. The quality of the projects we
undertake for private residences around the world and our
increasing presence in the hotels and hospitality sectors, with our
newly established contract division, testify the legitimacy that
our brands have achieved with designers and architects. Over the
years, we have overcome challenges, like the one the world is
facing these days, and embraced opportunities, always staying
confident in the potential of our team and our vision. The Company
has evolved and continues to evolve, but our values remain
unchanged: a relentless pursuit of harmony, ethics in all forms,
customer centricity, product innovation, respect and gratefulness
for our artisans that, in our own Italian factories, manufacture
our collections. All these elements contribute to make our vision
come true: improve the lives of people around the world, one
customer at the time, one city at the time. That vision led us to
be now present in over 100 markets. As I sensed when I started the
Company, I am convinced the best is yet to come. The network of our
stores and galleries globally, the strength of our Brands, the
retail and commercial tools we developed so far, the dealers and
clients who have been trusting us for decades, are an incredible
growth platform that, I am sure, our team now will leverage to
accelerate our journey and bring our brands to the new heights it
deserves.”
High Point Market, (held from 13th to 17th April 2024) and
Milano Design Week (held from 16th to 21st April 2024), the two
most important furniture and design exhibitions in the world, have
been the ideal venues to present the latest news regarding retail
and product collections to clients, dealers and leading architects
all over the world. Natuzzi presented 5 key commercial novelties to
accelerate growth:
- Natuzzi Italia Store format evolution. Natuzzi presented
an evolved version for its Natuzzi Italia store architecture,
realized with particular attention to sustainability, modularity,
ease of implementation, and cost efficiency, bringing collections
to the center of the store experience. The Durini flagship store,
at the heart of the Design District in Milan, has unveiled the new
retail format which now becomes the reference for our 238 Natuzzi
Italia stores globally. The evolution of the store format is part
of our retail strategy for Natuzzi Italia, which aims to accelerate
organic growth by creating an immersive customer experience.
Natuzzi will also continue to look for opportunities to further
expand its retail presence in key regions, beginning with the
US.
- Natuzzi Italia Design Studio. The business with the
Architects & Designers Community through total home design
projects has become a key driver of growth for our retail. In the
US, the Trade business accounts for 22% of total Natuzzi Italia
turnover. Trade sale tickets are on average 43% higher than
consumer ones. Trade has reached, in 2023, €0.3-0.4 million for
individual residential projects. Our new Design Studio, which will
be rolled-out in the key stores globally, is now the perfect hub
for the creation of comprehensive interior design projects.
- Reimagined Gallery Project. Wholesale branded today is
40% of our business. A key aspect of our strategy is the upgrade of
our 'gallery' format. We launched a “reimagined gallery format”: an
enhanced store-in-store concept, where we meticulously curated
merchandising to deliver an immersive brand experience. The
“reimagined gallery” will be used now to standardize our brand
gallery representation of Natuzzi within multi-brand
environments.
- Natuzzi Italia COMFORTNESS Project. The 'Comfortness'
collection stems from Natuzzi's DNA, combining two words: 'comfort'
and 'wellness”. Each of the two words has held a profound meaning
for Natuzzi since its origin. The 'Comfortness' collection presents
products that blend Natuzzi style with motion and technological
innovation to deliver tangible wellness benefits to the consumer,
as the iconic Re-Vive chair, which celebrates 10 years from its
introduction. The 2024 'Comfortness' collection marks an
acceleration in terms of product innovation and technology
contamination, with the introduction of the “Mindful” line.
'Mindful' is a game-changing sofa-system, that features a series of
innovations such as the 'Zero-gravity reclining motion' and the
'365 motion”, that provides dynamic comfort by synchronizing
breathing and heartbeat while seated. The 'Comfortness' collection
has been excitedly welcomed by the Natuzzi community of dealers and
architects.
- New collections Natuzzi Italia launched 5 new
models. Two of them were designed by our Natuzzi Design Center,
where more than 70 people constantly work on innovation and design,
a true asset of our Company, while 3 new models have been created
with the collaboration of established international designers as
part of the celebrations for the 65th anniversary of the Company.
These three new designs, realized with Karim Rashid, Simone
Bonanni, and Andrea Steidl, are an interpretation of the past, the
present and the future of Natuzzi’s design ethos. Natuzzi
Editions launched 6 new models all designed by our Natuzzi
Design Center.
“High Point and the Milan Design Week have been pivotal events
for meeting our clients and dealers. These events contribute to
fully unleash the potential of the new collections and improved
retail format, accelerating our organic growth. The best tribute we
can pay to Natuzzi, for its 65th anniversary, is to deliver the
growth that the strengths of its brand, its heritage and partners
deserve,” Antonio Achille, CEO of Natuzzi commented.
CAUTIONARY STATEMENT CONCERNING
FORWARD-LOOKING STATEMENTS
Certain statements included in this press release constitute
forward-looking statements within the meaning of the safe harbor
provisions of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements may be expressed in a variety of ways, including the use
of future or present tense language. Words such as “estimate,”
“forecast,” “project,” “anticipate,” “likely,” “target,” “expect,”
“intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,”
“should,” “would,” “may,” “might,” “will,” “strategy,” “synergies,”
“opportunities,” “trends,” “ambition,” “objective,” “aim,”
“future,” “potentially,” “outlook” and words of similar meaning may
signify forward-looking statements. These statements involve
inherent risks and uncertainties, as well as other factors that may
be beyond our control. The Company cautions readers that a number
of important factors could cause actual results to differ
materially from those contained in any forward-looking statement.
Such factors include, but are not limited to: effects on the Group
from competition with other furniture producers, material changes
in consumer demand or preferences, significant economic
developments in the Group’s primary markets, the Group’s execution
of its reorganization plans for its manufacturing facilities,
significant changes in labor, material and other costs affecting
the construction of new plants, significant changes in the costs of
principal raw materials and in energy costs, significant exchange
rate movements or changes in the Group’s legal and regulatory
environment, including developments related to the Italian
Government’s investment incentive or similar programs, the
duration, severity and geographic spread of any public health
outbreaks (including the spread of new variants of COVID-19),
consumer demand, our supply chain and the Company’s financial
condition, business operations and liquidity, the geopolitical
tensions and market uncertainties resulting from the ongoing armed
conflict between Russia and Ukraine and the Israel-Hamas war and
the inflationary environment and increases in interest rates. The
Company cautions readers that the foregoing list of important
factors is not exhaustive. When relying on forward-looking
statements to make decisions with respect to the Company, investors
and others should carefully consider the foregoing factors and
other uncertainties and events. Additional information about
potential factors that could affect the Company’s business and
financial results is included in the Company’s filings with the
U.S. Securities and Exchange Commission, including the Company’s
most recent Annual Report on Form 20-F. The Company undertakes no
obligation to update any of the forward-looking statements after
the date of this press release.
About Natuzzi S.p.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of
the most renowned brands in the production and distribution of
design and luxury furniture. With a global retail network of 678
mono-brand stores and more than 600 galleries as of December 31,
2023, Natuzzi distributes its collections worldwide. Natuzzi
products embed the finest spirit of Italian design and the unique
craftmanship details of the “Made in Italy”, where a predominant
part of its production takes place. Natuzzi has been listed on the
New York Stock Exchange since May 13, 1993. Always committed to
social responsibility and environmental sustainability, Natuzzi
S.p.A. is ISO 9001 and 14001 certified (Quality and Environment),
ISO 45001 certified (Safety on the Workplace) and FSC® Chain of
Custody, CoC (FSC-C131540).
1 Lexis, 2021. Aided brand awareness, among premium EU
brands
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version on businesswire.com: https://www.businesswire.com/news/home/20240419181943/en/
Natuzzi Investor Relations Piero Direnzo | tel. +39
080-8820-812 | pdirenzo@natuzzi.com
Natuzzi Corporate Communication Giancarlo Renna
(Communication Manager) | tel. +39. 342.3412261 |
grenna@natuzzi.com Barbara Colapinto | tel. +39 331 6654275 |
bcolapinto@natuzzi.com
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