MILAN — Furnishings, lighting and contract group Dexelance continues to focus on growth despite market challenges worldwide.
On Friday, the firm said it opened its first hub in Shanghai as it seeks to build a direct and structured presence in China, forge relationships with local partners and develop commercial opportunities.
“The Chinese market is one we know well, having been present there since 2020 with a branch in Suzhou. In 2024, China represented approximately 4 percent of our turnover,” Dexelance chairman and chief executive officer Andrea Sasso said in a statement.
China’s economy has slowed, its property market is still in a fragile state and consumer confidence hasn’t quite recovered since the COVID-19 pandemic. But the economic doldrums haven’t stopped luxury home brands from betting on the world’s second-largest economy to fuel growth. Last year, Italy’s Molteni&C opened its largest flagship in the world in Shanghai with local partner Domus Tiandi. Dexelance said Vincy Ho was appointed CEO of Dexelance China in January.
“The opening of this new Shanghai office… allows us to further consolidate our connection with China, strengthening the group’s presence in the country and aiming to become a global benchmark in high-end design,” Sasso said.
Dexelance, which recently changed its name from Italian Design Brands, owns upscale furniture brands Meridiani, Gervasoni and lighting firm Davide Groppi. It also owns luxury contract firms Cenacchi International and Modar, which work with stores, showrooms, offices, hotels and prestigious homes worldwide.
Meridiani furnishings inside the new Dexelance China hub.
Courtesy of Dexelance
In 2024, it also bought a majority share in Turri, a luxury furniture business founded in 1925 in Carugo near Lake Como, and last year increased its stake up to 100 percent in lighting firm Axolight.
The new space will host display areas for Gervasoni, Meridiani, Davide Groppi, Saba Italia, and Turri, in addition to the Dexelance China offices.
The first Italian design firm to list its shares on the Milan Stock Exchange, Dexelance said in April that it signed a letter of intent with outdoor furniture specialist Roda Group, with the aim to take a majority stake in the firm. In February, the firm’s managing director Giorgio Gobbi told WWD the firm was in talks with several potential acquisitions. The company reported its 2024 revenues were up 4.3 percent to 324 million euros.
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