The joint venture agreement is aimed at expanding the Natuzzi’s retail network in Mainland China, Hong Kong and Macau. As previously reported by ILM, Natuzzi and Kuka will own a 49% and a 51% stake, respectively, in the joint venture, which will see the distribution of Natuzzi Italia and Natuzzi Editions branded products through a network of single-brand directly operated stores and franchised operated stores in the Chinese territory, as well as through online stores. Under the agreement, the wholly-owned Chinese subsidiary, Natuzzi Trading (Shanghai) becomes a joint venture.
Jason Furniture (Kuka) is one of the largest upholstery furniture manufacturers and retailers in China, with three major manufacturing bases in the country and more than 3,000 mono-brand stores in China and overseas.
