The acquisition will be made through Haworth Italy Holding, the Italian subsidiary of Haworth Inc., while the newly acquired company will operate under the Lifestyle Design Division (also known as the Poltrona Frau Group). The company did not disclose the purchase price.
Over the past 30 years, Luxury Living Group has developed, produced and distributed high-end furniture made in Italy on behalf of international luxury brands. The company said that Olga Shvilli Vignatelli, wife of the company’s founder, will retain her role as vice president and brand ambassador of the group.
“I am excited and enthusiastic; it is a privilege for Luxury Living Group to join such a solid and farsighted group,” said Shvilli Vignatelli, “Each one of the acquired companies has preserved and fed its identity, the founders continue to contribute to their development, and the financial strength of the group has allowed investing in new stores and plants.”
With approximately 250 employees, Luxury Living operates mainly through a worldwide network of 80 retailers along with seven directly owned stores in Milan, Forlì, Paris, New York, Los Angeles and Miami. The group is also planning to reopen its London store along with two new flagship stores in Shanghai and San Francisco in 2021.
Haworth, the third-largest contract furniture maker in North America, employs 7,500 people and makes contract and office furniture including systems furniture, office chairs and seating, desks, filing, storage, case goods, tables and upholstered guest chairs.