New IDN Group Member – Furniture Factory IDN Production
The IDN Group made an acquisition of the Vilnius furniture manufacturing company VDI baldai which employs 15 workers. The IDN Group is planning rapid expansion during the next three years and is aimed at reaching € 7 million of annual turnover within the current year.
“This is one of the most mature business solutions we were approaching to in the course of the recent few years. As representatives of Italian manufacturers we faced with the demand for certain specific decisions that we had already entrusted the local producers to, so the decision to have a domestic producer in the group was dictated of itself. At the same time it will expand our business opportunities”, – says Fulvio Cancelli, a businessman who represents Italian furniture manufacturers in Lithuania.
The IDN Group consists of the IDN Home (formerly Italų dizaino namai), IDN Production (formerly VDI baldai) and IDN Contract (formerly Spekas ir ko).
