Majid Al Futtaim, Poltrona Frau sign strategic partnership
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Majid Al Futtaim, Italian luxury brand Poltrona Frau announce strategic partnership

Majid Al Futtaim, Italian luxury brand Poltrona Frau announce strategic partnership

Founded in 1912 in Turin, Italy, Poltrona Frau is known for its 21-step tanning process to create enduring leather items

Gulf Business
Majid Al Futtaim and Poltrona Frau sign strategic partnership

Majid Al Futtaim has announced a strategic partnership with Poltrona Frau, the century-old luxury Italian furniture brand. As part of the agreement, the company has acquired the rights to Poltrona Frau products in the UAE.

Founded in 1912 in Turin, Italy, the company is known for its 21-step tanning process to create enduring leather items.

The brand’s leadership in the global leather industry led to the coinage of the term “Poltrona Frau Leathership”. Its craftsmanship has been on display at world-class museums, hotels, theatres, embassies, travel lounges, airline interiors as well as the bespoke upholstery of automotive giants such as Ferrari, Maserati, Alfa Romeo and Land Rover.

With this strategic development, the reputed Italian brand will see a new chapter of growth. The Italian brand currently has 15 flagship stores, 165 single-brand stores and around 280 multi-brand stores across five continents.

The company saw a 20 per cent growth in revenue in 2022, compared to 2021, due to a strong increase within the brand’s residential unit and a strong recovery of public projects.

Upcoming plans for the brand

Fahed Ghanim, CEO of Majid Al Futtaim Lifestyle, said: “This partnership supports our geographical and brand expansion strategy at a time of recording year-on-year double digit growth and is designed to accelerate our journey of transforming the customer experience in the region. We continuously seek unique diversification opportunities that complement our existing portfolio with brands that require their own distinct strategies. The Poltrona Frau partnership is a testimony to that pioneering spirit and we look forward to a fascinating journey ahead as we build the brand’s presence in the market.”

The company will open a Poltrona Frau flagship showroom in Mall of the Emirates later this year. In addition, the brand’s existing Jumeirah store will be expanded and transformed, inspired by the iconic Poltrona Frau Via Manzoni showroom.

Nicola Coropulis, CEO of Poltrona Frau said the partnership “is the first step of a journey that aims to cement Poltrona Frau as the ultimate luxury lifestyle brand in the UAE, and the Middle East, and provide the most elite customers with exclusive solutions for their homes, offices and public spaces based on excellent quality and service”.

He added: “We believe Majid Al Futtaim Lifestyle’s vast ecosystem and its ability to interpret the true spirit of a brand and, ultimately, their people, will help elevate Poltrona Frau to the next level and accelerate our growth strategy across the region.”

Well placed for further growth

Majid Al Futtaim Lifestyle is well placed to fulfill that expectation. The company has eight leading franchise brands, two homegrown brands and more than 70 stores across the GCC spanning fashion, home, multi-brand, specialty retail and beauty, as well as 18 online platforms. Over the past five years, the company has refreshed its portfolio strategy, achieving milestones, including recording year-on-year, double-digit growth and registering more than $217m in sales in 2022 alone.

 With the new brand acquisition and an ambitious plan for 2023, Majid Al Futtaim Lifestyle CEO said the company is now well- positioned to address future demands by leveraging its growing portfolio and multi-channel capabilities.

In recent news, Ahmed Galal Ismail has been appointed as chief executive officer of Majid Al Futtaim Holding. He replaced Alain Bejjani, who served in the role for eight years.

Read: Majid Al Futtaim Holding appoints new chief executive officer

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