Design holding targets the US and Asia

A more comprehensive collection, new names in the portfolio, a new strategy targeting US and Chinese markets as growth drivers. These are the characteristics that unite Design holding and Fendi, which in 2021 created Fashion furniture design (FF design) to develop the home segment and are currently presenting the expansion of Fendi casa, created by a pool of designers under the creative direction of Silvia Venturini Fendi. Alongside the signatures enlisted last year, such as those of Piero Lissoni, Cristina Celestino, Toan Nguyen, and Dimorestudio, new firm Controvento by Gabriele Chiave, who was the creative director at Marcel Wanders (now in stand-by), has also been called upon to join the team. Then, the partnership with Louis Pulsen, a brand in the portfolio of Design holding, along with B&B Italia, Flos, Maxalto, Azucena, Arclinea, Lumes, and By Lassen, allowed the group to present some iconic pieces in a new guise. A path of synergies and brand strengthening that has led the group to a record result, as stated by ceo Daniel Lalonde. Together with Fendi’s Serge Brunschwig, they outlined to MFF the future strategies for the giant and the brand.

Design holding closed 2022 with double-digit growth. What are the pillars that ensured this acceleration in addition to new products and special collaborations?

Daniel Lalonde: We recorded a turnover of 867.6 million euros in 2022, a 25.8% increase over 2021, which confirms our leadership in the sector. We have a clear roadmap, which can be summarized in four points: improving the brand desirability, continuing our direct-to-consumer approach, expanding our geographic reach in North America, Greater China, and the Middle East, and improving sales quality.

Last year was fundamental for the opening of the two Fendi casa boutiques in Milan and in Miami. Do you have any other flagship opening planned for 2023?

Serge Brunschwig: We want to consolidate an international distribution strategy focused on creating a network of boutiques in major cities around the world. In july, we are opening a store in Shanghai. This is a crucial opening because Asia, and China in particular, have always been a key market for Fendi.

Are you, as a group, implementing a single-brand strategy? If so, what are the goals?

D.L.: In addition to developing a network of directly operated stores, we are also promoting the opening of branded spaces within our wholesales partners’ locations. The channel consists of 121 monobrand stores and 750 shop-in-shops worldwide. In 2022, we saw an increase of 43 and 67 spaces, respectively, opened in key cities such as Wenzhou, Beijing, Tokyo, Seoul, Doha, Beirut, and many other destinations in Europe, North America, and the Asia-Pacific.

A year ago you made the latest acquisition. Are there any other brands or categories you would like to add to your portfolio?

D.L.: We are focused on organic growth and on value creation for all the brands in our portfolio. We want them to be more recognizable, resilient, and desirable. Of course, we are open to new M&As as we are always looking for excellent companies that are in line with our positioning and can create value for us.

What is the value of a brand like Fendi casa today? What does it bring to the world?

S.B.: All Fendi casa collections feature furnishings created by famous international designers, all developed under the creative direction of Silvia Venturini Fendi, drawing on the heritage of savoir-faire, tradition, and attention to detail, as part of Fendi’s Dna. Each piece therefore manages to reinterpret this heritage with a deeply contemporary spirit.

Have you thought about hospitality projects under the brand Fendi casa?

S.B.: We are currently focusing on residential projects.

Do you keep receiving good feedback from your joint venture?

S.B.: The strategic joint venture with Design holding has allowed Fendi to collaborate with a trusted and competent partner, jointly managing the home segment, while designing, producing, and distributing collections that reflect the maison’s most authentic spirit and carry the group’s know-how. We are very pleased with the positioning of Fendi casa, which is in line with the brand image and explores new paths in high-end design through creative excellence and craftsmanship.

As a Design holding will you continue to collaborate with fashion brands?

D.L.: B&B Italia introduced many new things in 2022, including the first collaboration with designer Stella McCartney. This product has been an important test for fashion co-labs and may inspire future ones.

What markets does the group want to target and with which brands?

Both Americas are an incredibly important market and are currently leading the growth (+33.1% over 2021), with a positive impact on Lumens’ performance. We are also in the process of opening several directly operated stores (Dos), such as a new B&B Italia design studio in Miami. In addition, B&B Italia, Maxalto, and Arclinea will open new Dos spaces in Washington and Boston and other single-brand stores. Asia is another key market for us, with +27.2% from 2021. In addition to the first Fendi boutique in Shanghai we will open the first Louis Poulsen store in Tokyo.

Last year there was talk of an ipo, which was to materialize in the fall. Is there any new timeline or has it been discontinued for the time being?

D.L.: For the time being we want to focus on consolidating our market presence and our brand growth strategies. We currently have no plans to proceed with a market listing. (all rights reserved)