The Flos B&B Italia Group is evaluating informal offers for its furniture division following the unexpected departure of its chief executive officer, Daniel Lalonde. Sources indicate that Michigan-based Haworth Group expressed interest, making an offer valued between 800 million and 1 billion euros, which was deemed too low and subsequently declined.
Photo: LinkedIn.
Lalonde stepped down in January after disagreements over restructuring plans. His tenure was marked by efforts to unify the company's luxury brands, including B&B Italia, Maxalto, Arclinea, Flos, and Louis Poulsen, under one retail concept. This initiative culminated in a flagship store in New York on Madison Avenue.
Following his resignation, the company appointed former Flos CEO Piero Gandini as executive chairman. Industry experts suggest that his experience in the lighting sector could be beneficial, especially if the company opts to sell its furniture and lighting businesses separately.
The group, formerly known as Design Holding, was formed in 2018 through a partnership between Investindustrial and the Carlyle Group. In 2021, it entered a joint venture with Fendi to develop the Fendi Casa line.
Market analysts believe that mergers and acquisitions in the luxury furniture and lighting sectors will continue to rise, with companies seeking to offer comprehensive home solutions. The group's future strategy remains unclear, but its restructuring and leadership changes suggest a potential shift in business direction.
Source: www.wwd.com