Evolution of Natuzzi Americas Organization and Natuzzi’s Confirmed Commitment to Retail Expansion

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Natuzzi announces the transition of Jason Camp from his role as the North American President, highlighting his significant contributions to the company's retail expansion. The company emphasizes its commitment to enhancing its retail operations globally and improving organic performance.

SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)-- Natuzzi acknowledges the remarkable contribution of Jason Camp, who, after four years of dedicated service, will be transitioning from his role within the company. Jason Camp has led our overall North American operations since October 2019. In July 2022, he shifted his focus to Retail, prompting Ottavio Milano to assume the role of North American President in 2023 to facilitate integration with our headquarters.

Jason Camp's leadership has been instrumental in driving the expansion of our retail presence in North America, culminating in the opening of 16 new stores and the significant strengthening of our brand presence in the market.

"Jason Camp's impact on our organization has been significant," said Pasquale Natuzzi, founder and Executive Chairman. "His strategic leadership, retail competences, and passion for our brand have been invaluable assets in supporting our retail expansion. We are grateful for his contributions and wish him all the best in his future endeavors."

"Retail is central to our business strategy in North America and Globally," commented Antonio Achille, Group CEO. "Since 2021, we opened 130 new stores, between directly operated stores and franchises, globally. With 680 stores worldwide as of December 31, 2023, retail is a key competitive advantage of Natuzzi and represent an incredible platform to grow our business and strengthen our brands globally. We are steadfast in our commitment to improving organic performance, which remains our top priority. Additionally, retail will play a pivotal role in the development of the Natuzzi Italia Brand, reflecting our dedication to quality and customer experience.

In line with our commitment to enhancing our retail operations, in 2023, we have established a Global Retail Division under the leadership of Diego Babbo. This division is dedicated to modernizing and professionalizing our retail approach by developing tools and strategies to support our Regions and Dealers in enhancing the retail experience; we are pleased and very encouraged with the achievements reached to date."

Year to date, retail like-for-like sales have improved significantly versus the same period of the previous year, and we continue to work on enhancing the retail experience to strengthen the positive sales momentum.

In North America, we are pleased to announce that Lou Mossotti will assume the role previously held by Jason Camp. Lou brings extensive experience in North American retail, including Bassett Furniture where he spent almost 20 years, and has been with Natuzzi since October 2021.

As we transition to this new chapter, we express our gratitude to Jason Camp for his leadership and dedication.

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About Natuzzi S.p.A.

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. With a global retail network of 680 monobrand stores in addition to more than 600 galleries as of December 31, 2023, Natuzzi distributes its collections worldwide. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the “Made in Italy”, where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC^® Chain of Custody, CoC (FSC-C131540).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240301162418/en/

Natuzzi Investor Relations

Piero Direnzo | tel. +39 080-8820-812 | pdirenzo@natuzzi.com

Natuzzi Corporate Communication

Giacomo Ventolone (Press Office) | tel. +39.335.7276939 | gventolone@natuzzi.com

Giancarlo Renna (Communication Manager) | tel. +39. 342.3412261 | grenna@natuzzi.com

Source: Natuzzi S.p.A.

FAQ

Who is transitioning from their role within Natuzzi?

Jason Camp

What is the focus of Natuzzi's business strategy in North America and globally?

Retail

How many new stores did Natuzzi open globally since 2021?

130

Who will assume the role of North American President after Jason Camp's transition?

Ottavio Milano

Who is leading the Global Retail Division at Natuzzi?

Diego Babbo

How has retail like-for-like sales performed year to date compared to the previous year?

Improved significantly

What is Lou Mossotti's background in North American retail?

Extensive experience, including almost 20 years at Bassett Furniture