Sunday, 9 May 2021

Fendi Inks New Joint Venture for Home Line

MILAN — Fendi has inked a new venture for its home line.

The Rome-based luxury company is partnering with Design Holding, jointly controlled by Investindustrial and The Carlyle Group, to create Fashion Furniture Design, or FF Design, which will develop the Fendi Casa business. Design Holding is the majority shareholder in the venture, but financial details were not provided.

Founded in November 2018, Design Holding comprises design, furniture and lighting companies B&B Italia, Flos and Louis Poulsen. Last month, Design Holding entered into an agreement to acquire YDesign, one of the leading digital platforms in the U.S. for e-commerce in high-end lighting and furnishing products. Investindustrial controls the Sergio Rossi footwear brand.

Fendi will terminate its collaboration with Luxury Living, operating through Club House Italia, upon the end of its license at the end of 2021.

The new Fendi Casa collection under the joint venture will bow in January 2022 and at Milan’s international design and furniture trade show Salone del Mobile next year. The home line will be available through selective retail and a network of dedicated boutiques.

In a sign of continuity, FF Design will rely on the creativity of Silvia Venturini Fendi, artistic director of accessories and men’s wear at Fendi, who has always overseen the home line. (Kim Jones was appointed Fendi’s artistic director of couture and women’s wear collections in December last year).

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Alberto Da Passano, former president of Fendi for Europe and the Middle East, has been appointed chief executive officer of the new venture, effective July 1.

Serge Brunschwig, chairman and CEO of Fendi, said the company was a pioneer as “the first fashion house to expand to the design world in 1987” with a home collection, launched by Silvia Venturini Fendi’s mother Anna. The executive defined the venture as a driver to “enter a new era for the brand,” and praised Design Holding’s “unique expertise.”

“This new project, in collaboration with one of the world’s greatest fashion maisons, makes us very proud,” said Gabriele Del Torchio, chairman of Design Holding. “Working with an Italian fashion house synonymous of quality, experimentation and creativity, which admirably combines tradition and modernity, will give our Group the opportunity to grow and further consolidate its presence in international markets. The class and style of Fendi products, combined with Design Holding’s leadership in the design market, will make this a winning partnership.”

Palazzo Fendi in Rome was inaugurated in 2016, which in addition to a sprawling store includes the company’s first boutique hotel, the Fendi Private Suites, furnished also with the brand’s home line.

There is a Fendi Casa store in Milan’s Via Durini, the city’s street dedicated to design and furniture, one unit in London in Harrods and one in Miami’s Design District.

In July last year, Lifestyle Design (Poltrona Frau Group), together with Haworth Inc., acquired the storied Italian furniture and interiors design company Luxury Living Group.

The transaction was made through the Michigan-based company’s Italian subsidiary, Haworth Italy Holding, while Luxury Living Group operates under the Lifestyle Design Division, with brands including Cappellini, Cassina, Ceccotti, Dzine, Karakter, Janus et Cie, Luminaire and Poltrona Frau.

Over the last 30 years, Luxury Living has produced and distributed high-end designs under licensing agreements with the likes of Bentley Home, Trussardi Casa and Bugatti Home, most recently adding Versace.

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