Italian Design Brands changes its name to Dexelance as it eyes acquisitions.
With the birth of Dexelance, we are not only strengthening our position at the national level, but we also set the ambition to accelerate growth, both organically and by external lines, by playing a leading role in the global reference market,” Dexelance chief executive officersaid Thursday.
“We are working on it and are very strong with regard to our M&A agenda…the stock exchange increased communication with more brands,” Sasso added, noting that they were not ready to reveal anything definitive. Dexelance managing director Giorgio Gobbi stressed, however, that the company is not planning a transformational acquisition in 2024. “We hope that at least one will come on board, but that can occur at the earliest in 2025, not now.
The company opened its first U.S. flagship in New York City last October that hosts dedicated showrooms for Meridiani and Davide Groppi. The move was part of the company’s long-term plan to expand in the U.S. and the group continues to scout investors and partners to open doors in cities like Chicago; Miami; Dallas; Washington, D.C., and Boston, which are considered key to the growth of the group. , or TIP SpA, bought a majority stake in IDB’s parent company. TIP, which is helmed by Giovanni Tamburi, founder, chairman and CEO.
“I am convinced that the current times are particularly well suited to consolidate,” Tamburi said adding that the sector has “enormous potential” but “is too fragmented” to cope with the current global market challenges.sector with revenues of 310.8 million euros, up 16.6 percent compared to 2022, as it posted strong performances across all of its brands. Sasso said the company would continue to grow in 2024.
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