old

Upholstery giants Natuzzi and Kuka have received regulatory clearance for the joint venture announced earlier this year that will see the latter invest in new Natuzzi stores across China.


Kuka has invested €65 million to acquire a 51 percent stake in Natuzzi's Chinese distribution subsidiary. The remainder is held by Natuzzi.


The joint venture — which had been awaiting regulatory approval — will build the Natuzzi retail network across China through directly-operated-stores, franchisees and online


Kuka, a subsidiary of Jason Furniture (Hangzhou), produces sofas from three factories and sells through 3,000 mono-brand stores across China and elsewhere.


The deal gives Kuka the right to perpetually use the Natuzzi Italia and Natuzzi Editions trademarks in the Greater China region.



TO READ THE FULL STORY: