MILAN — Design Holding (“DH” or “The Group”) – an international group operating in the global high-end design market that includes industry leading brands such as B&B Italia, Flos and Louis Poulsen, announced that it has signed, via a wholly-owned, newly established subsidiary, an agreement to acquire YDesign Group, LLC (“YDesign”), a U.S.-based e-commerce retailer headquartered in Walnut Creek (San Francisco, California) and leader in the U.S. online high-end lighting market.
YDesign, which has 200,000 active customers among end consumers, architects, designers, and specifiers, generated $160 million in revenues in 2020, driven by 30% growth in the consumer segment representing around 2/3 of the total turnover. YDesign operates through two websites: YLighting.com and Lumens.com. YDesign distributes several well-known European brands including Artemide, Foscarini, Kartell, Muuto, Nemo, Tom Dixon as well as Flos and Louis Poulsen.
The acquisition is part of Design Holding’s strategy to expand its geographic reach, particularly in the attractive North-American market, strengthen the Group’s digital presence and provide more services and added value to its customers, both private individuals and A&Ds.
Gabriele Del Torchio, Chairman of the Group, said: “We are very excited to welcome YDesign Group and the management team as part of the Design Holding family. This acquisition fits into the broader plan of establishing Design Holding as the leading innovative high-end design platform with a truly multi-channel value proposition. We have been impressed with YDesign’s reputation for trusted relationships with world-class vendor brands and its broad product assortment, operational excellence and ability to support customers throughout the purchase process with highly trained customer sales and service teams. The preservation of YDesign’s existing organization and the continued independence of its commercial value propositions are both integral to the success of this combination. At the same time, YDesign will benefit from Design Holding’s global presence, distinctive product knowledge and marketing experience.”
YDesign’s CEO, Laura Walsh, together with the management team will remain on board. Walsh commented: “We are thrilled by the many growth opportunities that lie ahead for YDesign. Leveraging the strategic support of Design Holding’s international platform and reach, we’ll continue to strengthen our positioning as the market leader in the US high-end lighting industry and our reputation as the preferred destination for architects and designers.”
The acquisition is expected to close in the second quarter of 2021, subject to the satisfaction of customary closing conditions. YDesign Group was advised by Financo | Raymond James.Tagged with acquisition