Latest news with #Dexelance
Yahoo
4 days ago
- Business
- Yahoo
Design Firm Dexelance Opens China Office to Fuel Expansion
MILAN — Furnishings, lighting and contract group Dexelance continues to focus on growth despite market challenges worldwide. On Friday, the firm said it opened its first hub in Shanghai as it seeks to build a direct and structured presence in China, forge relationships with local partners and develop commercial opportunities. More from WWD Designer Vincent Van Duysen Opens Antwerp Home for Zara Home+ 4th Collection Lulu Frost's Lisa Salzer Discusses Importance of Providing Joy With Everyday Luxuries Sanlorenzo Gives Venice a New Cultural Space and Piero Lissoni-designed Bridge 'The Chinese market is one we know well, having been present there since 2020 with a branch in Suzhou. In 2024, China represented approximately 4 percent of our turnover,' Dexelance chairman and chief executive officer Andrea Sasso said in a statement. China's economy has slowed, its property market is still in a fragile state and consumer confidence hasn't quite recovered since the COVID-19 pandemic. But the economic doldrums haven't stopped luxury home brands from betting on the world's second-largest economy to fuel growth. Last year, Italy's Molteni&C opened its largest flagship in the world in Shanghai with local partner Domus Tiandi. Dexelance said Vincy Ho was appointed CEO of Dexelance China in January. 'The opening of this new Shanghai office… allows us to further consolidate our connection with China, strengthening the group's presence in the country and aiming to become a global benchmark in high-end design,' Sasso said. Dexelance, which recently changed its name from Italian Design Brands, owns upscale furniture brands Meridiani, Gervasoni and lighting firm Davide Groppi. It also owns luxury contract firms Cenacchi International and Modar, which work with stores, showrooms, offices, hotels and prestigious homes worldwide. In 2024, 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 up to 100 percent in lighting firm Axolight. The new space will host display areas for Gervasoni, Meridiani, Davide Groppi, Saba Italia, and Turri, in addition to the Dexelance China offices. The first Italian design firm to list its shares on the Milan Stock Exchange, Dexelance said in April that it signed a letter of intent with outdoor furniture specialist Roda Group, with the aim to take a majority stake in the firm. In February, the firm's managing director Giorgio Gobbi told WWD the firm was in talks with several potential acquisitions. The company reported its 2024 revenues were up 4.3 percent to 324 million euros. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Design Firm Dexelance Opens China Office to Fuel Expansion
MILAN — Furnishings, lighting and contract group Dexelance continues to focus on growth despite market challenges worldwide. On Friday, the firm said it opened its first hub in Shanghai as it seeks to build a direct and structured presence in China, forge relationships with local partners and develop commercial opportunities. More from WWD Designer Vincent Van Duysen Opens Antwerp Home for Zara Home+ 4th Collection Lulu Frost's Lisa Salzer Discusses Importance of Providing Joy With Everyday Luxuries Sanlorenzo Gives Venice a New Cultural Space and Piero Lissoni-designed Bridge 'The Chinese market is one we know well, having been present there since 2020 with a branch in Suzhou. In 2024, China represented approximately 4 percent of our turnover,' Dexelance chairman and chief executive officer Andrea Sasso said in a statement. China's economy has slowed, its property market is still in a fragile state and consumer confidence hasn't quite recovered since the COVID-19 pandemic. But the economic doldrums haven't stopped luxury home brands from betting on the world's second-largest economy to fuel growth. Last year, Italy's Molteni&C opened its largest flagship in the world in Shanghai with local partner Domus Tiandi. Dexelance said Vincy Ho was appointed CEO of Dexelance China in January. 'The opening of this new Shanghai office… allows us to further consolidate our connection with China, strengthening the group's presence in the country and aiming to become a global benchmark in high-end design,' Sasso said. Dexelance, which recently changed its name from Italian Design Brands, owns upscale furniture brands Meridiani, Gervasoni and lighting firm Davide Groppi. It also owns luxury contract firms Cenacchi International and Modar, which work with stores, showrooms, offices, hotels and prestigious homes worldwide. In 2024, 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 up to 100 percent in lighting firm Axolight. The new space will host display areas for Gervasoni, Meridiani, Davide Groppi, Saba Italia, and Turri, in addition to the Dexelance China offices. The first Italian design firm to list its shares on the Milan Stock Exchange, Dexelance said in April that it signed a letter of intent with outdoor furniture specialist Roda Group, with the aim to take a majority stake in the firm. In February, the firm's managing director Giorgio Gobbi told WWD the firm was in talks with several potential acquisitions. The company reported its 2024 revenues were up 4.3 percent to 324 million euros. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-04-2025
- Business
- Yahoo
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.
