6th listing of 2023 on Euronext Milan
Italian Design Brands brings the total number of companies listed on Euronext Milan to 224
21st listing on Euronext in 2023
Milan – 18 May 2023 – Borsa Italiana, part of the Euronext Group, today congratulates Italian Design Brands on its listing on Euronext Milan.
Italian Design Brands is an Italian hub for high-quality furniture and design. As of today, the Group consists of ten companies, each one with its own identity, specialising in: Furniture and Design, Luxury Contracts, Lighting Systems and Kitchen&Systems.
Italian Design Brands represents the sixth listing on Euronext Milan in 2023, and brings the total number of firms currently listed on Euronext Milan to 224.
In the placement phase, Italian Design Brands raised €70 million. In the case of the full exercise of the over-allotment option, the total amount raised will be €80.5 million. The free float at the time of admission was 23.89% and the market capitalisation at IPO was €293 million.
Andrea Sasso, Chairman & CEO of Italian Design Brands, said: “On behalf of the entire IDB team, I am really proud of this important milestone we have reached together. We are the first entirely Italian group representing the high-end design sector to be listed on Borsa Italiana. We hope to be a virtuous example for the Made in Italy companies that will want to follow us. The stock exchange represents a new starting point in our journey of development and, after an extraordinary year, we are ready to accelerate the Group's ambitious growth path”.
Giorgio Gobbi, Managing Director of Italian Design Brands, added: "2022 was a record year for the Group, both in terms of deals and in terms of turnover, which almost doubled compared to the previous year. We made two new acquisitions, adding a fourth strategic business area, in the Kitchen&Systems sector, and opened a New York-based subsidiary, dedicated to the constantly growing North American market. The results we have achieved demonstrate the soundness of our project and the solidity of the path we have taken, which the listing, one of our strategic objectives since our foundation, can only encourage".
Caption Andrea Sasso, Chairman & CEO of Italian Design Brands, and Giorgio Gobbi, Managing Director of Italian Design Brands, rang the bell during the market open ceremony this morning to celebrate the company’s Initial Public Offering.
Italian Design Brands Italian Design Brands S.p.A. was founded in 2015 to develop and promote an Italian hub for high-quality furniture and design, promoted by Private Equity Partners - co-founded by Fabio Sattin and Giovanni Campolo - Paolo Colonna and Giovanni and Michele Gervasoni, supported by a selected group of high-level private investors. In September 2015 Giorgio Gobbi, a manager with a solid experience both in multinational companies and in the furniture and design industries, joined the Group and is now Managing Director of IDB. Andrea Sasso, manager with extensive experience as top manager and CEO of listed companies, joined IDB in May 2020 as Chairman and CEO. The company rapidly initiated a process of growth, which led important companies of the design industry to join the project. As of today, the Group consists of ten companies, each one with its own precise identity: Gervasoni (2015), which realizes furniture solutions through the Gervasoni and Very Wood brands, Meridiani (2016), company specialized in the creation of refined, contemporary and versatile collections, Cenacchi International (2017), which operates in the luxury contract sector, Davide Groppi (2018), which creates and produces lamps and lighting projects, Saba Italia (2018), a high quality design furnishing company, Modar (2019), company specialized in furniture contract projects, Flexalighting (2020), which designs and produces LED lighting systems for both indoor and outdoor uses and Axolight (2021), specialized in the design and production of Made in Italy decorative lamps, Gamma Arredamenti (2022), which produces leather furniture and furnishings accessories and Cubo Design (2022) which produces modular kitchens and that operates through the brands Binova and Miton Cucine.