Veneta Cucine, here is the French turning point: «One hundred stores in three years»

Veneta Cucine, here is the French turning point: «One hundred stores in three years»

Veneta Cucine takes control of its distributor in France. And it aims to double the single-brand stores from 50 to 100 within three years. The move of the Venetian group of kitchens owned by the Archiutti familywhich last year the Nb Aurora fund had entered, which had acquired 30% of the Treviso company by putting 36 million precisely to support foreign expansion, was made official on Wednesday regards the acquisition of control, with a majority stake, of the brand’s distributor in France for nine years.


48 million in revenues

Understandable move, the passesggio to direct management. France is the first importer of kitchens in Europe and this was the first goal on the agenda. For us, leading companies must think about investments to increase market shares: this is why we decided to move beyond the Alps, explains the vice president of Veneta Cucine, Dionisio Archiutti. In France, the group achieves 48 million euros in revenues thanks to 50 single-brand stores, in which the company invests alongside partners with solutions turnkey ranging from choice from the premises to the design of the store, up to the financial support and promotion to launch the business.

New step forward

Now the new step forward. We’ve wanted to do it for a while – adds Archiutti -. We waited to have a sufficiently extensive presence on the territory and a dimension organization that he had achieved a certain threshold, since it is a question of managing a highly personalized product such as kitchens. Today in the Nice office we have 20 people between the front and back offices and the French structures are integrating with the Italian ones. An integration step can be taken which could have efficiency effects on the structures. The first goal the doubling of points of sale monobrand in three years. It will then be a question of seeing what the concrete market conditions will be: the goal is to do well, not in a hurry – reasons the vice president -. In this second phase we will work to expand beyond the Paris area, which alone accounts for 30% of housing. A development which, it seems obvious, will also bring about a doubling of revenues: They will be destined to increase, also because our product catalog is growing — the reply -. But for sure the aim is to double, if the market doesn’t have too abrupt corrections.

In the USA

A course of action that can be replicated in other relevant areas? A year ago, at the entrance of Nb Aurora, there was talk of an entry into the USA: It remains a goal for the next few years, but a step that must be carefully studied – explains Archiutti – there is a need for a dedicated business unitfor specific characteristics of distribution and the need to have an ad hoc product, unlike for example what happens with France, where the catalog is essentially the same, albeit with some variations. Also because in the meantime it will be necessary to see what market situation will develop in the coming months. Even if Veneta Cucine is getting ready to close 2022 with an increase in revenues, compared to the consolidated 285 million in 2021, (realized with 700 employees and five production sites): This year we benefited from the tail end of the positive phase of the last 18-24 months – says Archiutti – but worries abound. In any case, the 80 million investment plan, set for the three-year period 2023-’25, remains on the table. been reviewed with a prudential approach – concludes the vice president -. If necessary, it will be a question of increasing both the levels of prudence and the distribution over time.

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November 24, 2022 (change November 24, 2022 | 10:43 am)

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