Italian Design Brands enters the world of kitchens

Italian Design Brands (IDB), the Italian pole in high-quality design furniture, has signed an agreement to become a majority partner in Cubo Design, an Abruzzo company specializing in the production of components and furniture for the construction of modular kitchens.

Under the agreement, the former shareholders of Cubo Design – Antonio Arangiaro and Giuseppe Arangiaro – will remain at the helm of the company, of which they will retain a significant share.

With the entry of Cubo Designs, the tenth company to join the group, IDB is expanding the range of products offered and entering a new and important segment of the sector, namely kitchens. According to FederlegnoArredo, the Italian sector recorded a production value of 2.7 billion in 2021, an increase of 25.0% over 2020 and with an export share of 34%. The strategic business area Kitchens & Systems (ASA) will be added to the other segments already covered by the Group: The furniture area – interior and exterior design, the Lighting area – lighting – and the Luxury contract area, projects of custom-made furniture for the fashion store world.

This is therefore a stage with an important strategic value for the Group, which continues its growth rapidly also by virtue of the goal of the stock exchange listing, a process that was officially started in June 2022 and which will be completed in accordance with market and achievement conditions. the necessary regulatory approvals by the first half of 2023.

Cubo Design was founded in 2006 in Grasciano (Teramo), and was born out of the intuition of Antonio Arangiaro, an entrepreneur with many years of experience in the modular kitchen sector. The company caters to a wide audience with Miton Cucine – a “democratic” brand offering high-quality solutions accessible to all – and Binova, a historic brand in the high-end kitchen sector.

In a short time, Cubo Design has been able to establish itself in both the Italian and international markets, thanks to the ability to evolve to anticipate trends and provide concrete answers to the sector. In 2016, Factory One was born: a fully integrated production center of 25,000 square meters, among the first in Italy, designed according to the concept Enterprise 4.0., Where the company automatically performs all activities related to the production and assembly of your own kitchens, from single panel to the finished product. A system where the concept of Industry 4.0 is implemented in a complete way that not only becomes the driving force in the Cubo Design business, but also an element of awareness of sustainability issues, thanks to the ability to create 0 km products that are capable of to reduce 25% for logistical trips. In 2021, Cubo Design achieved a turnover of almost 46 million with an export share of approximately 56%, significantly higher than the average for the sector. Today it has about 70 employees.

Andrea Sasso, Chairman and CEO of IDB, states: “We are pleased to welcome Cubo Design, a company that combines heritage, high quality, innovation and sustainability for the IDB family. This is another step of great strategic importance for the group: we are moving forward with our development path and adding a basic area, kitchens and systems that further enrich our growth potential.Cubo Designs entry therefore represents an important step in the creation of a Made in Italy design center that is capable to provide the widest range of products and services “.

Giorgio Gobbi, CEO of IDB, adds: “Under the guidance of Antonio and Giuseppe, the company has been able to develop and capture market trends and create a fully integrated business model, which in Italy is unique in the sector. With the strategic and operational support From IDB, Cubo Design will be able to continue to grow internationally and develop new projects, on the other hand, all companies in the group will be able to benefit from the production know-how from a new generation hub such as Factory One ”.

Antonio Arangiaro, CEO of Cubo Design, says: “We are strongly attracted to this project: for Cubo Design, becoming a member of IDB means access to the opportunity to finance its growth through alternative instruments and access to the capital market, as a partner has a structured and very synergistic.The production verticalization that we have implemented in recent years has led us to excellent results, today we are very pleased to announce the launch of a new chapter with IDB, which will allow us, thanks to the strength of the association of experience and competencies, as well as the synergy with the other brands in the group to continue our development path through new channels and geographies “.

The operation was assisted by: Marco Franzini (Grimaldi Studio Legale), Michele Massironi and Maria Giulia Furlanetto (Studio La Scala), Ernani Ornello, Pierfrancesco Bencivenga, Luciana Sist and Valeria Mangano (EY), Marco Valdonio (Studio Maisto e Associati)).

Photo Binova – Cubo Design

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