Fendi’s headquarters, the Palazzo della Civiltà Italiana in Rome. Courtesy.
The LVMH-owned brand’s Fendi Casa line will relaunch as a joint venture with Design Holding, the Italian design group whose other products include Flos lighting and B&B Italia sofas.
Silvia Venturini Fendi will provide “creative guidance” to the project, which is set to be revealed during Milan’s Salone del Mobile design show next January, the brand said in a statement.
Design Holding, whose backers include Carlyle Group and Investindustrial, will be the line’s majority shareholder. The move comes as more brands seek to increase their presence in homeware, which has enjoyed a pandemic bump in spending.
The loss of the Fendi Casa license marks the end of an era for its current producer, Luxury Living, whose founder Alberto Vignatelli spearheaded the fashion industry’s expansion into licensed furniture in the late 1980s. Vignatelli passed away in 2017, and his company was recently sold to Lifestyle Design Group (the rival Italian furniture group formerly known as Poltrona Frau).
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
Credit: Source link