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Padua, November 2020
Black Tie is a historic Italian high-end furniture brand, founded by #pierluigifrighetto in 2011, which has developed its cosmopolitan calling in respect of a proudly Italian manufacturing excellence, maintained and consolidated in the Vicenza district. Over the years Black Tie has expanded its presence into international markets, recording 90% export share levels in 2020. The transaction will allow PDI to continue on its growth path, with an aggregate 2021 turnover target of 15 million euro, and a target of 18 million euro to be achieved in 2022.
The CEO of PDI, #ernestobarbieri, emphasizes how the investment in Black Tie fits harmoniously into the growth path of the company he steers. PDI's goal is to develop an increasingly strong presence in the most prestigious segments of the reference markets, with a strong focus on product #design and technological innovation: "this operation was born after meeting #pierluigifrighetto, his history of style and his experience in the world of furniture. Black Tie is a company with a strong and iconic personality that brings a unique vision to the sector ".
The main commercial synergies that could immediately develop between the current reality of PDI and Black Tie are aimed at further consolidating the Group's presence in international markets, also thanks to the network contacts that PDI has consolidated over the years.
"I have recently met Ernesto Barbieri", declared the founder of Black Tie #pierluigifrighetto, "and mutual respect was created from the first moment. This choice reassures me about the future of the brand to which I am so attached".
The acquisition will not change the corporate structure of Black Tie, which will not be incorporated within PDI but will maintain its own autonomous organization. #pierluigifrighetto, an important shareholder, will continue the artistic direction of the company and will develop his #design creations, with the support of his personal team of collaborators. In this context, the commercial outlet of the product will be able to make use of the proven #tonincasa network. Major investments are planned in Black Tie, aimed at enhancing development in both the retail and contract sectors, being able to rely on the important synergies allowed by joining the PDI Group for this purpose.
With the entry of Black Tie, the PDI proposal in the living sector is strengthened.
"Our growth project - explains #ernestobarbieri - is essentially based on the beauty that our craftsmanship can create: our mission is to enhance this beauty by placing our products in the best retail stores in the world and inserting them in international furnishing projects. We plan to reach a Group turnover of 15 million euro in 2021 and, which is of utmost importance for us, we aim to achieve this result by continuing on our path of continuous re-evaluation of the identity, style and personality of Made in Italy, through an increasing diffusion of our products, all rigorously made in Italy. For us, Made in Italy is something more than the production of our products in Italy: for us it means a concept of brand identity that embraces the way in which we manage relationships with our customers, advising and supporting them also in the after-sales with a goal of building solid and lasting personal relationships, just like the products of our brands, #tonincasa and Black Tie ".
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