Natuzzi Services, the retail arm of Italian furniture manufacturer Natuzzi, saw growth across its three London showrooms last year. The locations—Croydon, Westfield, and Tottenham Court Road—recorded sales increases of 2.7%, 13.2%, and 4.4%, respectively. Despite this success, the overall turnover for the unit fell to £4.96 million, down 4.1% from the previous year. This decline was partly due to the closure of the Finchley Road store, which had contributed two months of revenue in 2022.
Photo: Natuzzi.
Like-for-like sales rose by 4%, highlighting the strength of the remaining stores. However, the business faced challenges, with rising operating costs and interest on loans contributing to a loss of £169,000, a significant drop from the previous year's slight profit of £5,000.
Currently, there are around 30 Natuzzi stores in the U.K., with five directly operated by the company, including the three in London, while the rest are run by franchisees.
Source: www.thefurnishingreport.com