Italy's Dexelance to Take a Majority Stake in Luxury Outdoor Firm Roda
MILAN — Furnishings, lighting and contract group Dexelance has set its sights on taking over luxury outdoor furniture-maker Roda.
On Wednesday, the Milan-based group said it signed a letter of intent to acquire a minority stake in Roda's share capital, partly through the purchase of shares and partly through the subscription of a share capital increase. The injection is aimed at supporting new investments and starting a new phase of growth for Roda Group, which owns luxury outdoor furniture maker Roda.
More from WWD
RH Mulling New Sourcing Strategy Amid New Trump Tariffs
EXCLUSIVE: Former Flos B&B Italia Group CEO Daniel Lalonde Moves to Vita, a Division of Fiskars Group
Luxury Kitchens Firm Arclinea Celebrates 100 Years With Book, Scholarship
Dexelance said that the letter of intent envisages it initially acquiring a minority stake in Roda's share capital and in a second phase, Dexelance will acquire a majority of Roda through 'specific buy and sell options.'
In the 1990s, Roda was founded by Roberto Pompa, who sought 'al fresco' areas as places to inhabit and enhance outdoor spaces. Roda is an acronym of the names of Pompa's family — Ro for Roberto and his wife Rosaria, Da for their children Daniele and Davide. In 2005, the late Italian designer Rodolfo Dordoni was welcomed into the team as artistic director.
Dexelance, which recently changed its name from Italian Design Brands, reported revenues up 4.3 percent to 324 million euros in 2024.
Dexelance chief executive officer Andrea Sasso said Roda, a well known name in the outdoor furniture market, is an ideal complement to its growing portfolio.
'We are very happy to join with the Pompa family to accelerate the development of one of the most prestigious names in the international outdoor market, sharing not only their projects but also their values and a common strategic vision,' the CEO said.
Roda's CEO Daniele Pompa said it sees Dexelance's experience and support driving a new phase of 'global expansion and consolidating' its 'position as a leader in luxury outdoor furniture.'
Since its market listing in 2023, Dexelance has been focused on international expansion. In an interview with WWD in February, its managing director Giorgio Gobbi said the group was in talks with several potential acquisitions.
In October 2023, Dexelance opened its first U.S. flagship in New York City that hosts dedicated showrooms for Meridiani, Davide Groppi and — from May 2024 — Gervasoni. In the same year, it also bought 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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
25 minutes ago
- New York Post
Ex-NY Young Republicans leader Gavin Wax gets nod for FCC spot
WASHINGTON — The former leader of New York's Young Republicans was endorsed Saturday by an outgoing member of the Federal Communications Commission (FCC) to fill his vacancy. FCC commissioner Nathan Simington told The Post in a phone interview Saturday that Gavin Wax, 31, 'would be a great' replacement and had been hearing 'buzz' about a potential nomination from President Trump. 'I don't want to get ahead of the president,' said Simington, who has served at the FCC since the Senate confirmed him as Trump's pick in December 2020, before adding: 'Trump has been very smart and creative with his picks in general. And he seems willing to look outside of, I guess, the establishment … or Beltway insiders.' 4 FCC commissioner Nathan Simington told The Post in a phone interview Saturday that Gavin Wax, 31, 'would be a great' replacement and had been hearing 'buzz' about a potential nomination from President Trump. AP Simington, who previously served as an associate at law firms like Mayer Brown as well as in a senior advisory role at the National Telecommunications and Information Administration, is departing the FCC after his term expired last year and he stayed on in the intervening months as a holdover. Wax is currently serving under the Republican appointee as chief of staff and senior adviser at the FCC. If confirmed, he would be the youngest-ever FCC commissioner since 1945, when Democrat Charles Denny was confirmed at age 32. 'I came in as someone whose experience was primarily on the international trading side of wireless finance, and so I've been reading a lot of telecom reg[ulations],' he explained. 'Gavin and I have collaborated on a lot of writing, and I think the common thread of tying it together is a desire to take a fresh look at telecom.' 4 Simington is departing the FCC after his term expired last year and he stayed on in the intervening months as a holdover. AP 'Gavin has spent a lot of effort with me thinking through questions of 5G industrialization. … I would expect [him] to focus on what it means to get smart manufacturing up and running at high scale in the United States,' he added. The two co-authored an op-ed in the conservative Daily Caller last month calling for 'DOGE-style' reforms at the FCC to do away with 'outdated practices that burden consumers, broadcasters, and taxpayers alike.' Established as part of the Communications Act of 1934, the five-member FCC regulates TV, radio, internet, satellite and cable industries, approves licensing and auctions off the use of spectrum for services like 5G. 4 'I don't want to get ahead of the president,' said Simington. 'And he seems willing to look outside of, I guess, the establishment … or Beltway insiders.' AFP via Getty Images As for his work chairing the Young Republicans, Simington noted: 'The commission is an organization of 1,600 people. … I have to say when I got Gavin's resume, the line items about the sizes of the events that he had organized and put on … my response was, this guy can clearly do things that I would find very challenging.' Wax hosted the group's annual holiday gala in previous years. Trump was the keynote speaker for the event in 2023. The FCC currently has two Republican commissioners including Simington and two Democratic commissioners. 4 Wax hosted the group's annual holiday gala in previous years. Trump was the keynote speaker for the event in 2023. Kevin C. Downs Democratic Commissioner Geoffrey Starks announced that he was stepping down Friday, leaving another vacancy. Olivia Trusty was previously nominated as the third Republican to serve on the panel of commissioners and is in the process of being confirmed by the Senate. Chairman Brendan Carr, a Republican, has led a series of reforms at the agency since Trump returned to the White House, including targeting diversity practices at Verizon and hinting at broader changes to so-called 'Section 230' protections for big tech companies. The latter has been the subject of furious debate by Republicans due to the liability shield it provides the platforms, even as some Facebook admitted to taking advantage of the tool to censor Americans' views online during the COVID-19 pandemic. Neither the White House nor Wax immediately responded to requests for comment.
Miami Herald
33 minutes ago
- Miami Herald
President Trump sends harsh message to Federal Reserve on interest rate cuts
President Trump upped the ante on the Federal Reserve hours after the latest jobs report, angrily demanding Fed Chair Jerome H. Powell slash the federal interest rate to create greater demand for consumer loans and better terms for business investment. And POTUS wasn't shy about it. Related: Veteran fund manager resets stock market forecast amid Musk, Trump fallout The president pounded out a furious message to the central bank chair, once again calling him "Too Late" Powell in Truth Social media posts. The lashing included references to rate cuts in Europe, plus a debatable declaration that there is "virtually no inflation (anymore)." The President's June 6 comments came as the Department of Labor reported that hiring remained stable in May with employers adding 139,000 jobs, gains that were slightly higher than expected but down from April. The unemployment rate stayed the same at 4.2%, as expected by most economists. Image source:While stocks bounced on the jobs report and recession concerns eased a tad, there is still a strong sense of caution due to the recession and, in some corners, even stagflation concerns. The $36.21 trillion U.S. debt, one of the major points of debate of Trump's "Big Beautiful Bill," now in the Senate, also made the president's screed. "If 'Too Late' at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due…Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!,'' wrote President Trump. Related: Jobs report shifts Fed interest rate forecasts President Trump, just days before the June 6 jobs report, blasted the central bank chairman as "unbelievable" and a "disaster" on Truth Social for Powell's delay in lowering interest rates, a move Trump maintains is choking economic growth. Minutes from a meeting of the Federal Reserve Bank leaders, which was held in early May and released on May 29, show the central bank voted to undertake open market operations "as necessary" to maintain the federal funds rate in a target range of 4.25% to 4.50%. The Board of Governors of the Federal Reserve System also voted unanimously in early May to approve establishing the primary credit rate at the existing level of 4.5%, meaning interest rates for lenders, consumers, and the rest of Americans likely won't fall in the short term. This led to Trump's increasing displays of frustration against Powell. Veteran fund manager Chris Versace wrote on TheStreet Pro that the market will likely rethink the three 25-basis point rate cuts expected per the CME's Fed Watch Tool. "With Atlanta Fed President Raphael Bostic signaling ahead of this data that he sees room for just one rate cut, the growing likelihood is more Fed heads will fall into that camp based on the aggregate data published this week." Versace says. " We also have to wonder if Bostic's comment helps lay the groundwork for the Fed's upcoming set of economic projections that it will publish alongside its next policy decision on June 18.'' Related: Analyst resets stocks, gold outlook after rally The chances of more than one rate cut in the second half of 2025 will likely increase if May CPI and PPI inflation data released this coming week support "May inflation data we've seen thus far and there is no meaningful progress on trade deals,'' Versace says. The president isn't buying it. "Too Late" at the Fed is a disaster! Europe has had 10 rate cuts, we have had none,'' Trump posted. Note that Europe has actually had eight central bank cuts recently, not ten. "Despite (Powell), our Country is doing great,'' Powell said. "Go for a full point, Rocket Fuel!" The "Rocket Fuel'' moniker is apparently a new one from the White House. A spokesperson for the Federal Reserve, responding to a comment about the full point cut, said, "We don't have anything to share here." Related: Veteran fund manager who predicted April rally updates S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Hamilton Spectator
42 minutes ago
- Hamilton Spectator
Trump says Elon Musk could face ‘serious consequences' if he backs Democratic candidates
BRIDGEWATER, N.J. (AP) — President Donald Trump is not backing off his battle with Elon Musk, saying Saturday that he has no desire to repair their relationship and warning that his former ally and campaign benefactor could face 'serious consequences' if he tries to help Democrats in upcoming elections. Trump told NBC's Kristen Welker in a phone interview that he has no plans to make up with Musk. Asked specifically if he thought his relationship with the mega-billionaire CEO of Tesla and SpaceX is over, Trump responded, 'I would assume so, yeah.' 'I'm too busy doing other things,' Trump continued. 'You know, I won an election in a landslide. I gave him a lot of breaks, long before this happened, I gave him breaks in my first administration, and saved his life in my first administration, I have no intention of speaking to him.' The president also issued a warning amid chatter that Musk could back Democratic lawmakers and candidates in the 2026 midterm elections. 'If he does, he'll have to pay the consequences for that,' Trump told NBC, though he declined to share what those consequences would be. Musk's businesses have many lucrative federal contracts. The president's latest comments suggest Musk is moving from close ally to a potential new target for Trump, who has aggressively wielded the powers of his office to crack down on critics and punish perceived enemies. As a major government contractor, Musk's businesses could be particularly vulnerable to retribution. Trump has already threatened to cut Musk's contracts, calling it an easy way to save money. The dramatic rupture between the president and the world's richest man began this week with Musk's public criticism of Trump's 'big beautiful bill' pending on Capitol Hill. Musk has warned that the bill will increase the federal deficit and called it a 'disgusting abomination.' Trump criticized Musk in the Oval Office, and before long, he and Musk began trading bitterly personal attacks on social media, sending the White House and GOP congressional leaders scrambling to assess the fallout. As the back-and-forth intensified, Musk suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with infamous pedophile Jeffrey Epstein . Musk appeared by Saturday morning to have deleted his posts about Epstein. Vice President JD Vance in an interview tried to downplay the feud . He said Musk was making a 'huge mistake' going after Trump, but called him an 'emotional guy' getting frustrated. 'I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear,' Vance said. Vance called Musk an 'incredible entrepreneur,' and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was 'really good.' Vance made the comments in an interview with ' manosphere' comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the U.S. Navy when he opened for Trump at a military base in Qatar. The Vance interview was taped Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to Epstein because Trump is mentioned in them. Vance responded to that, saying, 'Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein.' 'This stuff is just not helpful,' Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. 'It's totally insane. The president is doing a good job.' Vance also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending and taxes but also leave some 10.9 million more people without health insurance and spike deficits by $2.4 trillion over the decade , according to the nonpartisan Congressional Budget Office. 'It's a good bill,' Vance said. 'It's not a perfect bill.' The interview was taped in Nashville at a restaurant owned by musician Kid Rock, a Trump ally. ___ Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
