Luxury car brands tap high-end furniture maker
Dario Rinero, the CEO of handcrafted leather sofa company Poltrona Frau, has announced the company is looking for new partners and investors to expand after being approached by Fiat to make seats for its Chrysler 300 sedan when it took over the marque in 2010.
To cope with increasing demand at the time, Rinero brought in experts from Italy and purchased fine leathers from the US.
Poltrona Frau reported a 15% sales increase last year, to EUR 70 million and the Fiat deal has led to talks with other carmakers, including Cadillac, keen on the 101-year-old furniture company's classic designs.
"A carmaker saw one of our double-stitched Chester sofas and said, 'I want an interior like this'," said Piero Valentini, head of the company's automotive division. "We did it in China with the Rolls-Royce Phantom."
However, many other automotive suppliers have suffered huge losses since the financial crisis began in 2009. Italy’s national automotive manufacturers' association, Anfia, estimates between 200 and 300 have folded in Italy alone.
