MILAN — Furnishings, lighting and contract group Dexelance has entered into the world of omnichannel retail and distribution.
On Thursday, the company said it agreed to buy 65 percent of Mohd’s share capital for 44.3 million euros. Through the transaction, Dexelance, the first design firm to list its shares on the Milan Stock Exchange, has entered into a binding agreement to purchase 54 percent of the shares held by private equity firm the Quadrivio Group and a portion of the shares held by Mohd’s founders, the Mollura family.
In its fiscal year 2024, Mohd reported revenue of about 70 million euros, Dexelance said.
Turri Living is part of Dexelance’s, formerly known as Italian Design Brands, galaxy of furniture and lighting labels.
Dexelance
Mohd currently has about 100 employees, including a team of architects specialized in the design of environments and interiors, residences, offices, hotels and showrooms. The firm was founded in 1930 as a carpentry business and evolved in modern times into a physical and omnichannel hub for design. It sells design pieces from 500 top brands through its six showrooms, online boutique and its dedicated project design service. It also manages residential and contract projects worldwide.
In October 2023, Dexelance opened its first U.S. flagship in New York City that hosts dedicated showrooms for Meridiani, Davide Groppi and — from May 2024 — Gervasoni. In the same year, it bought a majority share in Turri, a luxury furniture business founded in 1925 in Carugo near Lake Como, and last year increased its stake to 100 percent in lighting firm Axolight.
In a statement, Dexelance chief executive officer Andrea Sasso was enthusiastic about acquiring the commercial operator with a global reach.
“We are acquiring one of the best Italian commercial operators in the design sector…capable of offering a unique and personalized experience to architects and end customers, with the aim to further enhance Mohd and offer a qualitative and personalized service to all types of clients, drawing on the expertise of its architects in order to optimize design and distribution, including through the digital channel,” Sasso said.
The Mollura family is expected to remain at the helm of the company. The transaction is expected to be finalized by the end of 2025.
Dexelance, which listed its shares on the Milan Bourse in 2023, has been eyeing acquisitions worldwide. Earlier this year, the Milan-based group acquired a majority stake in Roda Group, which owns luxury outdoor furniture-maker Roda.