Natuzzi S.p.A., the Italian upholstered furniture manufacturer, reported a slight revenue increase in the second quarter of 2024, with total sales reaching €84.4 million—a 1% rise from the previous year. This uptick occurred despite broader challenges in the luxury furniture market due to economic conditions and shifts in consumer spending, especially in Europe and emerging markets, where sales have been affected by inflation and geopolitical tensions.
A key factor in Natuzzi's resilience has been its expansion in the North American market, where sales grew by over 15%, bolstered by new store openings and growth in the Directly Operated Stores (DOS) segment. Moreover, the company's retail transformation efforts, including restructuring and strategic shifts to improve operational efficiency, have supported a higher gross margin, up from 36.4% to 38.1%.
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Natuzzi
www.natuzzi.com