Haworth Lifestyle Readies for Acquisitions as It Nears 1 Billion Euros in Sales

MILAN— Haworth Lifestyle, which is home to top European furniture and home firms Poltrona Frau, Cassina , Cappellini and Zanotta, is gearing up to expand its market share.

Now that Flos B&B Italia is reportedly ready to sell off parts of its business, Haworth Lifestyle appears to have an advantage in the European design market.

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On Thursday, the Milan-based group said it is actively eyeing potential acquisitions to enhance its galaxy of brands, as it nears a revenue milestone.

"We have streamlined the structure of our holding company," said chief executive officer Dario Rinero, "not only to make our organization more efficient but also to prepare for further growth. We are approaching the milestone of 1 billion euros in revenue, and we aim to be ready for the next phase."

At a press lunch to kick off Design Week here, the group revealed reorganization plans, grouping companies under its umbrella into divisions. Poltrona Frau and Ceccotti CEO Nicola Coropulis will lead the Luxury Division; Luca Fuso, CEO of Cassina, Zanotta and Cappellini, will lead the Design Division; while the Industrial Division will be spearheaded by Ervino Riccobon. That includes bespoke auto firms Poltrona Frau Interiors in Motion and the U.K.'s KJ Ryan Ltd. , now fully part of Poltrona Frau Interiors in Motion. The Retail Division will be managed by Stefano Cazzaniga and that includes luxury furniture retailer Luminaire, with a focus on the U.S. market, and Interni, which specializes in Europe and the Middle East.

"We have established internal divisions in Haworth Lifestyle based on their positioning, proposition and competencies. These divisions will be able to integrate any future additions to support our growth trajectory," Rinero told WWD.

In terms of licensing, Luxury Living Group, which is led by Andrea Gentilini, remains the group's key player. In 2023, U.S.-based Ralph Lauren signed a long-term strategic deal with Haworth Lifestyle aimed at expanding the production and distribution of Ralph Lauren 's Italian-made furniture.

Haworth Lifestyle is part of Holland, Mich.-based Haworth Group , which booked $2.5 billion in sales for 2024, in line with the prior year. With this reorganization, the group is now divided into two branches: Haworth Lifestyle and Haworth Commercial.

In February, a source told WWD that Haworth made an informal offer of between 800 million euros and 1 billion euros for Flos B&B Italia's  furniture  division that was declined. At the time, Haworth declined to comment. The furniture arm of Italy-based conglomerate Flos B&B Italia includes vanguard brands B&B Italia, Maxalto ,  Denmark-based Audo Copenhagen , Azucena and kitchen brand Arclinea.

Despite a challenging market, acquisitions abound in the European furniture and lighting industry. Smaller player Dexelance, which recently changed its name from Italian  Design  Brands, reported revenues up 4.3 percent to 324 million euros in 2024 and recently took a stake in outdoor furniture brand Roda. In 2023, it took a majority share in  Turri , a luxury furniture  business founded in 1925 in Carugo near Lake Como, and last year increased its stake to 100 percent in lighting firm Axolight and said it's eyeing more deals.

In October 2024, Nemo Group , owned by Milan-based  lighting  entrepreneur Federico Palazzari, added two crown jewels to its growing design hub of brands with the acquisition  of  lighting -maker Fontana Arte and Driade, its first  furniture  property.

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