Italian Design Brands S p A : IDB strengthens in the furniture sector with the entry of the historic company “Turri”

IDB is proud to announce the entry in our Group of Turri, a historic and leading company operating in top-level indoor furniture, with a very strong focus on international markets.

With the entry in Turri, IDB adds a new prestigious brand that enables the Group to cover complementary segments of excellence in the Furniture space.

In line with IDB's traditional modus operandi, Andrea Turri has reinvested in the transaction as a minority shareholder and remains Chairman and CEO of the company.

Andrea Turri, CEO of Turri, says: "The agreement signed with IDB allows us to look to the future with greater momentum, strengthened by the support of a listed Group that will provide us with new resources, know-how and long-term strategic vision. With this agreement, faithful to Turri's corporate mission and with the same attitude that has made it possible for us to achieve a prominent position in the luxury market, we intend to guide the company toward continued brand growth, turning our gaze in particular to areas that today offer enormous potential, such as the world of contract and retail in the European and American markets. I am thrilled to have found in IDB a partner who shares our values and mission and with whom I am sure we will be able to be strengthen our position in new markets, enhancing even more the craftsmanship and excellence that have always distinguished our products."

Andrea Sasso, Chairman & CEO of IDB, states, "We are thrilled to welcome to our Group a historic brand like Turri, which has constantly evolved over the years while remaining faithful to the craftsmanship and tradition that have always distinguished it. This new partnership, the first one post-listing and post entry in IDB's capital of Tamburi Investment Partners S.p.A., will strategically allow us to consolidate our presence in markets such as the Middle East and Africa, where Turri has an important and prestigious customer base and, at the same time, will allow the brand to benefit from our distribution network to further strengthen itself in Europe, currently the first market for our Group."

Giorgio Gobbi, Managing Director of IDB, adds, "We are continuing with the reinforcement of the Group both in different sectors and in different geographical areas, consistent with the business model and goal we have always pursued. This eleventh transaction, as well as the increase in the stake in Axolight, demonstrate our continued achievement of the goals we have set, just as we did with the IPO in May 2023."