Yahoo Finance Design Holding Rebrands as Flos B&B Italia Group, Primes for Growth and Potential Acquisitions
Updated May 16 at 11:34 a.m. EST
MILAN — Design Holding said Thursday that it has decided to rebrand the holding company, and from today forward it will be known as Flos B&B Italia Group. With this announcement, the Italy-based company that is home to a galaxy of furniture, lighting and kitchen brands has laid the foundation for more growth and acquisitions, it said.
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“The group has grown significantly, establishing itself as a key player in the high-end design sector,” said Daniel Lalonde, chief executive officer of Flos B&B Italia Group and interim CEO of Flos, in a statement Thursday. “This steadfast commitment to excellence positions us to continue leading in the high-end design industry and creating value, laying a strong foundation for future growth and acquisitions.”
Flos B&B Italia Group also said the new name signifies an alignment with the historic Italian furniture-maker B&B Italia, with which Flos shares similar brand values. B&B Italia was founded in 1966 and is based in Novedrate Italy, south of Lake Como.
“Flos and B&B Italia, each representing the pinnacle of design excellence in lighting, furniture and accessories respectively, have been cornerstones of the group since its inception in November 2018,” the statement said, adding that the firm will deepen its direct-to-consumer connections, develop a broader network of directly operated stores, targeting growth in Europe and in key markets including North America, Asia Pacific and the Middle East. Flos B&B Italia Group also aims to solidify its presence in the high-end contract business by delivering bespoke furniture and lighting across residential, public and hospitality sectors.
Upon Flos CEO Roberta Silva’s resignation two weeks ago, Design Holding said Lalonde would assume the position of interim CEO, and Matteo Luoni will take on the role of deputy CEO, maintaining his role as director of group strategy. Flos B&B Italia Group also comprises Danish lighting-maker Louis Poulsen, Lumens, Arclinea, Maxalto, Azucena and Audo Copenhagen and Fendi Casa. The group closed 2022 with revenues of 867.6 million euros, up 25.8 percent on the previous year.
B&B Italia has also undergone a reshuffle. Last year, furniture business veteran Demetrio Apolloni succeeded Gilberto Negrini as CEO of B&B Italia Group.
Claudia D’Arpizio, a Bain & Co. partner and global head of fashion and luxury, told WWD that the luxury furniture sector, including bath and kitchens, was valued at between 46 billion and 48 billion euros in 2023, which could have been either a drop of 3 percent on the lower end or a 1 percent rise on the higher end.
Flos, which was founded in Merano, Italy, in 1962 boasts an extensive catalogue of iconic lamps created by legendary design names — Philippe Starck, Patricia Urquiola, Ron Gilad, Michael Anastassiades and Vincent Van Duysen, among them.
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