Last year, the sector closed with a negative sign, but the indications for a brighter future come from the performance of the best-known brands and the already growing 2024 forecast numbers
After two exceptional years, driven by the pandemic and the consequent rediscovery of the home world, in 2023 the national wood-furniture and design sector had a turnover of just under 53 billion euros, a figure therefore down 8% compared to 2022 when the sector’s record performance was recorded with 57 billion in turnover. It should be considered, however, that in 2019 the supply chain expressed a value of 42 billion euros, so it is also correct to consider 2023 as a year of return to a more “normal” level of turnover compared to the post-pandemic boom.
On the other hand, going to analyse in detail the performance of what are the main Italian design companies in terms of turnover, we can see that, even if minimal, there has been further growth. In this way, the year-on-year delta is brought to a “plus” sign, which can be defined more as consolidation. In fact, analysing the revenue value of the top ten companies combined, a total turnover value of almost 4.6 billion euros is obtained, up 2% on just under 4.5 billion brought home in 2022.
Expanding the analysis to the top fifteen in the sector, the positive gap is even smaller: in fact, it goes from 5.7 billion euros in total turnover in 2022 to 5.8 last year, with an increase in this case of 1.5%. The real good news then is that this partial positive sentiment is still reflected in the first data of the current year. After these first months of 2024, according to a survey carried out on the occasion of the Salone del Mobile by the FederlegnoArredo Study Centre, on a representative sample of companies in the sector, this year’s forecasts for the supply chain speak of a possible closure at a total of +4.5%, broken down into +8.5% of exports and +1.7% of the domestic market. Specifically, for the furniture macro-system, the estimate speaks of a total +6.4%, equal to +10% of exports and +0.9% of the Italian market, while for wood the forecast is more contained: +1.5% total: +4.9% exports and +0.2% of the domestic market. Figures that indicate a renewed positive trend but in a more ‘normalized’ key.
Returning again to the ranking drawn up by the Pambianco Study Centre, Flos B&B Italia Group is confirmed in first place in terms of turnover, even though the company recorded a slightly declining year-on-year turnover in 2023. Scrolling through the ranking again, it is also clear that the positive delta scored by the top ten Italian furniture-design companies is also the result of some individual exploits. For example, this is the case of WeDo Holding, a group that encompasses various brands including furniture, kitchen, interior design, living, lighting and bathroom. Last year, we are talking about a double-digit growth of 37%, which adds up to an improvement due to internal skills and competencies of 88.5% (value of organic growth) and 11.5% thanks to acquisitions made during the year (percentage of growth by external lines).
Among those who experienced a growing 2023 is Molteni Group, which closed last year’s balance sheet at 480 million euros and therefore an improvement of 4% compared to 465 million in the previous year. Finally, the results of Italian Design Brands, a group that in 2024 was renamed Dexelance after having reached listing on Euronext Milan in May last year, were interesting. The company then closed 2023 at €287 million, up 44% from €199 million the previous year. It should be noted that the revenue figure would rise to €311 million, including in the scope of consolidation also the twelve-month figures of the acquired brands Cubo Design, Axolight and Turri.
