Natuzzi sales target hits major setback as revenues drop more than 35%

29th May 2009 | upholstery | Italian sofa manufacturer Natuzzi will have to double in size in the next two years if it wants to meet its ambitious 1bn Euro sales target by 2011. The upholstery firm suffered a heavy 35% revenue drop in the first quarter of 2009 – but did at least manage to halve the losses incurred in the same period last year.

The company, which operates a franchised retail network in Italy and a mix of own stores and concession style galleries in the UK, recorded worldwide sales of 111.3m Euros in the three months to 31st March, down from 172.8m Euros in the first quarter of 2008.

Natuzzi says it has managed to make significant cost savings in production which enabled it to record a smaller loss than it did last year. Aldo Uva recently left the firm as chief executive, to be replaced by the firm’s founder Pasquale Natuzzi.