Luxury Living Group (LL Group) has launched its own furniture brand, Luxence, which will operate beside the ones the company manages with a licensing agreement: Bentley Home, Versace Home, Dolce & Gabbana Casa, Trussardi Casa, Bugatti Home. The holding has been owned by Lifestyle Design since 2020, which in terms is owned by US-based Haworth of which Poltrona Frau, Cassina and Cappellini are also a part of. Luxence will be manufactured in Italy. In 2022, the brand will invest 5 million euro in its Forlì HQ to renew production lines, including cutting machinery for leather.
LL Group’s financials
The Folrì-based company specialized in the high-end furniture segment counts 280 employees and closed 2021 with a revenue of 113 million euro, up from the 91 million of 2019 and the 80 million of 2020. The current year is expected to be impacted by the missed renewal with Fendi. Yet, the CEO Andrea Gentilini trusts he will manage to maintain the same revenue thanks to the licensing agreements with D&G and Versace. The domestic market accounts for only 2% of sales, while China weighs about 40%. The focus markets for the company will be the USA, Middle East and UK.
The home office believes that Luxence could be generating a revenue of 20 million euro by 2025. Luxury Living Group also plans on making another 5-million-euro investment in 2023 to strengthen the production site which is currently 20,000 square meters. The budget includes the purchase of new cutting machinery for leather. “The goal is to accelerate production processes and steps”, says the CEO Gentilini to the Corriere della Sera. Alliances with suppliers and small working sites, says Gentilini, “are the antidote with which the company is facing difficulties tied to sourcing raw materials”.