Il Molteni group, an Italian company operating in the sector ofhigh-end furnishings, ended 2022 with excellent results and strong growth in revenues. The turnover in fact, the company's consolidated income stands at 460 million euros, up by 25% compared to 2021 (396 million). L'EBITDA consolidated grows by 25% compared to 2021 and an export share of around 80%. The growth, explains the company, occurred exclusively "organically", and supported by the consolidation of the managerial process of all the companies of the Group, which maintains a family character and a 100% made in Italy production. There are three brands of the Group, each operating in a different sector: Molteni & C, residential and contract furnishings, UniFor e Citterio specialized in the world of work environments and in bespoke projects for public spaces.
The results of Molteni&C
La parent company Molteni&C obtained revenues of 304 million euros, with growth of 26% and an Ebitda up by 36%. Growing results that follow the sales trend of the post-pandemic sector and that hold up despite the increase in costs and the difficulty of finding raw materials. In particular, in the residential segment, the retail channel is growing with the opening of 12 Flagship Stores Molteni&C in 2022. A further 2023 openings are planned for 24 for a total of 120 single-brand points in all the countries in which it operates. Even the wholesale channel pursues the strategy of expanding and further raising the positioning of over 700 points of sale (shop-in-shops and traditional multi-brand dealers). In 2022, the new Molteni&C|Outdoor division which introduces, among others, also signed unpublished works Gio Ponti, of which the parent company, by virtue of an agreement signed with the heirs of the famous architect, holds the exclusive reproduction rights for most of the furnishings. Even the Contract segment linked to large international projects, it has obtained a significant boost in segments with a very high technological content, such as the specific contract for the office and naval sector and not only in the traditional retail, hospitality, educational and residential sectors. Between most significant projects the National Library of Israel designed by Herzog & de Meuron in Jerusalem, the Mandarin Oriental in Lucerne, the Waldorf Astoria in New York. Strait an important multi-year agreement with Formula1, thanks to which Molteni&C becomes Official Furniture Supplier of F1 Garage Suite, furnishing the exclusive hospitality areas present in 11 Grands Prix.
The strategic plan of the Molteni Group
The strategic plan is based on four growth drivers, with the path of sustainability as a central cornerstone. The first goal is to “increase the iconic nature of our 3 main brands by strengthening relationships with the most prestigious international designers and architecture studios (there are already 6 Pritzker prize winners who have collaborated with the Group). Second target is "to complete the process of international expansion in the various geographies with a strong focus on the retail plan, represented by the opening of direct single-brand stores or through partnerships with the main global players and the strengthening of our 12 commercial branches on 5 continents from a glocal perspective and with focus on the contract segment”. Then there is the piano to "strengthen the direct to consumer and digital brand image path, constantly improving the digital touch points of the brands and the shopping experience in the Stores, from an omnichannel point of view, but one channel, the preferential channel for the consumer regardless of where you are. In this, E-commerce and digital premium services will play a crucial role”. There E-commerce platform, activated as a pilot project in the USA, has generated excellent sales and will be expanded to other markets during 2023. Finally, latest driver is to "consolidate productive investments in plants and warehouses in a 4.0 perspective, as well as those dedicated to a sophisticated new ERP project, with the aim of making all operational areas more efficient".
New division dedicated to sustainability
Molteni Group, in addition to the development of new products entirely designed and manufactured according to the principles of disposal and the use of recycled materials, has decided to create a ad hoc division for sustainability. The new department, both in the production and design phases, will be responsible for reviewing existing products according to the new criteria and rethinking future developments that fall 360° on all company departments to comply with the new ESG principles. In the energy field, on the other hand, it pursues the strategy of making itself autonomous. The 65% of the energy consumed by Molteni&C is currently produced by a recently installed photovoltaic system.
“We are a united family that maintains the characteristics of a dynamic and flexible company, with very fluid and rapid decision-making processes, ideal in this turbulent international context. I am particularly proud of the third generation who work in synergy while maintaining that obsession with quality inherent in the DNA and culture of our company. At the same time, the constant managerialization process of the first levels is already producing further optimizations for the future” he commented Charles Molteni, President of Molteni Group.
“The R&D, production, logistic, commercial and marketing synergies developed by the brands are our growth lever, we are satisfied with the results obtained and with the new partnerships that guarantee the development of the Group, with the continuous strengthening of the link with the most prestigious international architecture and design studios: from Snohetta to Renzo Piano, Herzog & de Meuron, Foster + Partners, Vincent Van Duysen and Naoto Fukasawa, just to name a few. Looking to the future, our goal is to confirm ourselves as the most complete and dynamic Group in the high-end design sector in the three main segments, residential, design and furnishings for space and work, with synergistic and complementary brands" he declared Marco Piscitelli, CEO of Molteni&C and Managing Director of Molteni Group.
