Excluding “other sales”, the company reported that invoiced sales from upholstered and other home furnishings products amounted to €113.8 million, an increase of 16%.
Natuzzi operates in a branded business (comprising Natuzzi Italia, Natuzzi Editions and Divani&Divani by Natuzzi) and an unbranded business with collections for large-scale distribution.
For the branded business in the first quarter, Natuzzi achieved invoiced sales of €98.6 million, an increase of 14.7% year-on-year. For the unbranded business, invoiced sales were €15.2 million, up 25.3%.
Direct retail invoiced sales for the period were €18.6 million, an increase of 23% on 2021, while invoiced sales from franchised stores amounted to €41.4 million, an increase of 22.4%. The group is continuing a strategy of becoming a “brand retailer” and improving its distribution network.
Pasquale Natuzzi, Chairman of the Group, said: “The demand of our branded products in the first quarter has been robust. At the same time, the context around us invites us to be extremely prudent.
“Generalised inflation, persisting supply-chain disruptions and the conflict in Ukraine provide multiple challenges to our supply chain. Recently, we saw the consumer developing a more prudent attitude. Our CEO and the management team are constantly monitoring the overall situation to navigate through these challenging times.”