Natuzzi Signs Joint-Venture Deal with China’s Kuka

Italian furniture maker Natuzzi (NTZ) said Thursday it has signed an agreement with Chinese furniture company Kuka, under which the company’s Chinese subsidiary, Natuzzi Trading (Shanghai) Co. would become a joint venture.

Natuzzi and Kuka will own stakes of 49% and a 51%, respectively, in the venture, which will distribute Natuzzi Italia and Natuzzi Editions branded products through a network of directly operated and franchised operated stores, as well as online.

Kuka will invest a total of EUR65 million ($80 million) in the joint venture, which will be granted the perpetual and exclusive distribution license for the Natuzzi Italia, Natuzzi Editions for a consideration of EUR15 million. Natuzzi will retain the right to use the Natuzzi Italia, Natuzzi Editions and other relevant trademarks for all of the company’s existing manufacturing activities.

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