David Keenan's questions to NATUZZI S P A (NTZ) leadership • Q1 2025
Question
David Keenan, a private investor, questioned the outlook for gross margin given the production shift to Italy and new US tariffs. He also probed the sustainability of lower operating expenses, the tangible results from new retail analytics, the growth prospects of the contract division, and the progress with a potential major e-commerce partner.
Answer
CEO Antonio Achille confirmed the company will protect margins via pricing and is considering further production moves, while also expressing confidence in maintaining lower operating expenses. Global Retail Director Diego Babbo described how a new analytics platform is offsetting lower traffic by improving conversion rates. Chief Brand Officer Pasquale Junior Natuzzi highlighted the contract and trade channel as a key growth driver. Chief Wholesale Officer Codrin Coroama reported that talks with a potential e-commerce partner are advancing.