Published on : Tuesday, August 13, 2019
Leather upholstery major Natuzzi Group is developing a new business plan in reaction to challenges created by tariffs on goods produced in China.
Details of the revised business plan are expected to be released in September.
Broadly, the business plan includes extending Natuzzi-branded distribution and retail operations in key geographical areas; revising Natuzzi’s existing value chain and streamlining processes, structures and operations; and delivering greater value to customers and reorganizing the company to meet the demands of evolving markets.
Natuzzi will implement a series of initiatives to fulfill the business plan. Those include starting the process of selling non-strategic assets to fuel retail development; reshaping manufacturing operations; obtaining financial support from Invitalia, including funding for innovation measures and workers’ training; and exploring new commercial partnerships in different countries.
Source: Furniture Today