Natuzzi

Natuzzi

Type	Public
Industry	upholstery and accessories, Manufacturing
Founded	1959
Headquarters	Santeramo in Colle, Italy
Key people	Pasquale Natuzzi, Chairman of the Board and CEO
Products	furniture
Revenue	€518,6 million (2010)
Employees	6,823 (2010)

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 the largest Italian furniture company with 2009 turnover of euro 515,4 million, and is the world leader^{[weasel words]} in leather upholstery.^{[clarification needed]} In 1993, Natuzzi Group became the only foreign furniture company to list on Wall Street.

History

Pasquale Natuzzi was very young when he started his career. The son of a cabinet-maker, in 1959 at just 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, giving him in-depth knowledge of the difficulties and mechanisms of distribution.

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.^{[clarification needed]}

The successes achieved in the USA, confirmed by the quotation on Wall Street in May 1993, drove Natuzzi on to conquer other markets, mainly in Europe and the Far East, and to reach the world leadership in leather upholstery.

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 huge 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 Nineties saw the opening in Taranto, on Pasquale Natuzzi’s initiative, of the first shop in the franchising chain Divani & Divani by Natuzzi. The chain’s success is confirmed by the presence of 293 Natuzzi stores worldwide (mainly in Italy, Greece, Spain, Portugal, France, Switzerland, China, Australia), 366 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.^{[citation needed]}

In 2008 Pasquale Natuzzi was inducted into the American Furniture Hall of Fame.^{[clarification needed]} He was the first international recipient of the honor.^{[citation needed]}

Natuzzi Group’s Brands

Natuzzi is a brand with a mix of sofas, armchairs, accessories, tables and dining chairs. From the tanning of hides to the production of frames and padding, from the cutting of coverings to stitching. The entire production process is carried out in the Group’s Italian own factories.

The Italsofa brand offers a "fresh, dynamic, modern lifestyle brand".^{[citation needed]} The Italsofa collection offers sofas and chairs designed at Centro Stile in Italy and manufactured in the plants abroad, to be closer to end consumers.

Editions offers quality leather-upholstered furniture

Highlights

88% of the Natuzzi Group’s turnover is generated outside Italy in 123 countries, it holds its major market shares in Europe (61%) and Americas (29%).

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 products are distributed through 293 Natuzzi Stores in the most important international cities including Athens, London, Paris, Madrid, New York, Sydney, Shanghai, Budapest, Melbourne, and Dubai. The 366 Natuzzi Galleries are in partnership with the main distribution networks at: Selfridges (UK), Sears Roebuck (Canada), Bloomingdales (USA), David Jones (AUS), El Corte Ingles (Spagna) and Cuir Center (France).

The Italsofa products are distributed worldwide through 25 Italsofa Store and 19 Italsofa Gallery

As of 31 December 2010, turnover amounted to € 518,6 million.

The Natuzzi Group currently employs about 6,800 staff.^{[citation needed]}

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

External links

• Official company site