Natuzzi

Natuzzi (NYSE: NTZ) Natuzzi Group was founded in 1959 by Pasquale Natuzzi, current Chairman, Chief Executive Officer and Group Stylist. It designs, produces and markets sofas, armchairs and living room accessories. Natuzzi is Italy’s largest furniture house and the player with the greatest global reach in its sector. In 1993, Natuzzi Group became the only foreign furniture company to list on Wall Street. It is headquartered in Santeramo in Colle, Apulia, Italy.^[1]

History

Pasquale Natuzzi was very young when he started his career. The son of a cabinet-maker, in 1959 at 19 years of age he opened a workshop in Taranto with three collaborators, producing sofas and armchairs for the local market.

In 1962 he moved to Matera where he began to gain commercial experience.

In 1967, still in Matera, Pasquale Natuzzi returned to the production of sofas and armchairs, this time on an industrial scale.

In 1972 he founded Natuzzi Salotti S.r.l. One year later, following a fire that completely destroyed the Matera factory, Pasquale Natuzzi decided to relocate production to Santeramo in Colle (Bari – Italy), which is the modern-day headquarter of the Group.

Somewhere about the middle of the 70’s, Natuzzi took part for the first time to a furniture fair in Bari. Here started first contacts with some customer from Middle East: Saudi Arabia, Israel, Jordan. In 1976 Natuzzi exported the 60% of the turnover in those countries, while 40% was realized in Italy.

At the beginning of the 80’s there is the turning point of Natuzzi Group’s growth. During a trip to the USA, Pasquale Natuzzi intuitively spotted an opportunity to carry out a radical change of direction: “democratising” the leather sofa, once a product for an elite niche. The first sofa sold at $999 in the United States was a Natuzzi, at the famous store Macy’s.

Following the success in the USA, in 1985 Natuzzi Upholstery Inc. was established. Based in New York, the company was especially designed for the needs of its North American clients.

In 1998, further confirmation of the Group’s strong ties with the American market was given by the inauguration in High Point (North Carolina) of a futuristic-looking building, designed by the architect Mario Bellini, housing the offices of Natuzzi Americas, with a showroom measuring 8,000 square metres.

With North American expansion continuing, the Group then went on to strengthen its presence both in Europe and in Italy. The 1990s saw the opening in Taranto, on Pasquale Natuzzi’s initiative, of the first shop in the franchising chain Divani & Divani by Natuzzi. There are 274 Natuzzi stores worldwide (mainly in Italy, Greece, Spain, Portugal, France, Switzerland, China, Australia), 335 Natuzzi Galleries, mainly in the United States and Northern Europe.

Today Pasquale Natuzzi personally oversees strategic activities relating to strengthening the brand with investments in product innovation and research, marketing, communication and staff training, working alongside the Group’s managers to define future strategies.

Highlights

90% of the Natuzzi Group’s turnover is generated outside Italy in 123 countries, it holds its major market shares in Europe (54%) and Americas (34%).

Production is vertically integrated through 11 factories in Italy and abroad (China, Brazil, Romania) with just-in-time production system. Natuzzi Group controls 92% of raw materials and semi-finished products, 82% over services.

The Natuzzi Italia products are distributed through 274 Natuzzi Stores in the most important international cities including Athens, London, Paris, Madrid, Mumbai, New York, Sydney, Shanghai, Budapest, Melbourne, and Dubai. The 335 Natuzzi Galleries are in partnership with the main distribution networks at: Selfridges (UK), Sears (Canada), David Jones (AUS), El Corte Ingles (Spain).

Natuzzi Editions products are distributed through selected retailers and shop-in-the-shop (399).

As of 31 December 2013, turnover amounted to €449.1 million.

The Natuzzi Group currently employs about 6,048 staff.

See also

• List of Italian companies

Bibliography

• Agnese Sinisi, Natuzzi Un divano a Wall Street – Milano, Egea, 2008
• Federico Pirro, Angelo Guarini, Grande Industria e Mezzogiorno 1996-2007 – Bari, Cacucci Editore, 2008
• Federico Rampini, L’impero di Cindia – Milano, Mondadori, 2007
• Gianfranco Viesti, Il Sud che attrae - Donzelli Editore, 2002
• Franco Tatò, Perché la Puglia non è la California - BC Dalai Editore, 2002
• Mauro Castelli, Questa Italia siamo noi – Milano - Il Sole 24 Ore, 2000
• Roberto Napoletano, Fatti per vincere - Sperling&Kupfer, 1999

References

1. ↑ http://int.natuzzi.com/53/08/about_us

External links

• Official company site
• Private Label by Natuzzi Group - Furniture Village