Natuzzi S.p.A. (NYSE: NTZ) is an Italian furniture company founded in 1959 by Pasquale Natuzzi, currently the group's Executive Chairman of the Board of Directors.^[1] The company designs, produces and markets sofas, armchairs, living room accessories and bedroom furniture. Natuzzi is one of Italy's largest furniture houses and company with a global reach in its sector. With a global retail network of 703 mono-brand stores and 508 galleries as of December 31, 2022, and with manufacturing plants in Italy, China, Romania and Brazil to efficiently serve different markets, Natuzzi distributes its collections worldwide.^[2] Natuzzi products embody the finest spirit of Italian design and the unique craftmanship details of the “Made in Italy”, as a predominant part of its production takes place in Italy. In 1993, Natuzzi Group became the only foreign furniture company to list on Wall Street. It is headquartered in Santeramo in Colle, Apulia, Italy.^[3]

History

Pasquale Natuzzi was the son of a cabinet-maker. In 1959, at the age of 19 years old, he opened a workshop in Taranto with three collaborators, producing sofas and armchairs for the local market. In 1962 he moved to Matera where he began to gain commercial experience and, from 1967, he started the production of sofas and armchairs at industrial scale. In 1972 he founded Natuzzi Salotti S.r.l. One year later, following a fire that completely destroyed the Matera factory, Pasquale Natuzzi decided to relocate production to Santeramo in Colle (Bari – Italy), where the Natuzzi Group's Headquarters are currently located.

In the middle of the 1970s, Natuzzi took part for the first time in a furniture fair in Bari where he started his first business relations with customers from the Middle East: Saudi Arabia, Israel, Jordan. In 1976 Natuzzi exported 60% of the turnover in those countries, while 40% was sold in Italy.

The beginning of the 1980s represented the turning point for the Natuzzi Group's growth. During a business trip in the United States, Pasquale Natuzzi spotted an opportunity to carry out a radical change of direction: "democratizing" the leather sofa, that was until then a product for an elite niche. Indeed, the first sofa sold at $999 in the United States was a Natuzzi sofa, within Macy's department stores.

Following the success in the United States, in 1985 Natuzzi Upholstery Inc. was established. Initially based in New York, this subsdiary of Natuzzi S.p.A. was set up mainly to manage customers’ service for North American clients.^{[clarification needed]} In 1998 as a further confirmation of the Group's strong link with the North American market a new and futuristic-looking building, designed by the architect Mario Bellini, was inaugurated in High Point, North Carolina. This new High-Point building then became the registered office of Natuzzi Americas (by replacing Natuzzi Upholstery Inc.), together with a showroom measuring 8,000 square meters.

At the same time, the Group then continued to strengthen its presence in Italy and also Europe. During the 1990s Natuzzi S.p.A., on Pasquale Natuzzi's initiative, opened the first Divani&Divani by Natuzzi store in franchising located in Taranto, Italy.

As of December 31, 2022 there were 703 Natuzzi stores of which 23 located in the United States and Canada, 67 in other countries in the Americas, 55 in West & South Europe (excluding Italy), 80 in Italy, 33 in Middle East, Africa and India, 40 in other EMEAI (Europe, Middle East and India) countries, 379 in China and 26 in other Asia-Pacific countries. As of the same date, there were 508 Natuzzi galleries around the world.^[4]

Today Pasquale Natuzzi personally oversees strategic activities relating to strengthening the brand with investments in product innovation and research, marketing, communication and staff training, working alongside the Group's managers to define future strategies.^{[citation needed]}

Natuzzi products

The Group's product offering is divided into two brands.

Natuzzi Italia is the "made in Italy" brand dedicated to the high-end market. The sofas and armchairs of the Natuzzi Italia collection are complemented by a selection of home furnishings, lamps, accessories, and living room furniture. Natuzzi Italia products are distributed through single-brand point of sales: Natuzzi Store and Natuzzi Gallery (shop-in-the-shop).

Natuzzi Editions is the brand that provides a wide range upholstery and furnishings, available in different designs and functions, made in Natuzzi's factory all over the world.

In addition, the Group also offers unbranded products  (also referred to as “private label” products within a dedicated business unit to meet the specific needs of key accounts globally).