MILAN — Luxury Living Group has found a lifeline.
Lifestyle Design (Poltrona Frau Group) together with Haworth Inc. have acquired the storied Italian furniture and interiors design company.
The transaction will be made through the Michigan-based company’s Italian subsidiary, Haworth Italy Holding, while Luxury Living Group will operate under the Lifestyle Design Division, with brands including Cappellini, Cassina, Ceccotti, Dzine, Karakter, Janus et Cie, Luminaire and Poltrona Frau.
Over the last 30 years, Luxury Living has produced and distributed high-end designs under licensing agreements with the likes of Fendi Casa, Bentley Home, Trussardi Casa and Bugatti Home, as well as its own Luxury Living brand.
With revenues of 90 million euros and about 250 employees, Luxury Living in June had filed a petition for a composition with creditors.
Luxury Living was founded by Alberto Vignatelli, president and chief executive officer, who died