Kbb News emerged yesterday with exciting headlines, “Poggenpohl acquired by Smallbone”, much to the delight of Poggenpohl’s UK retailers and customers.
The troubled German kitchen manufacturer had filed for bankruptcy in April earlier this year, citing the developing coronavirus pandemic for a sudden drop in sales.
Whilst rumours had speculated Smallbones involvement in late May, earlier this month Kbb Review published an exclusive interview with Ron Shemesh, the man behind Smallbone parent company Lux Group Holdings in which he confirmed he was in the final stages of acquiring Poggenpohl and that he would invest €50m in the new venture.
In the KbbReview interview Shemesh also confirmed that his company intends to continue to acquire what he describes as ‘best of class luxury assets’ and that Lux will not limit itself to just kitchen furniture as he also sees bathrooms as an area of growth within the Lux Group.
Poggenpohl Möbelwerke claims to be the oldest kitchen brand in the world and it is renowned for its quality workmanship and attention to the finer details in respect of design and aesthetics.
So news that has confirmed the Poggenpohl brand will not just be saved, but reinvigorated, has given the Kbb sector a bit of a lift and some hope for life after Covid.
“We are pleased that we can take this ‘Uber Brand’ to soaring new heights utilising best of class manufacturing techniques, craftsmanship, excellence in design and an innovative client experience that will shake the foundations of the industry” Shemesh said.
Lux Group plans for the future of Poggenpohl are hoped to “digitally transform the $100Bn worldwide kitchen industry as Tesla did in the automotive industry”.
Lux Group is the parent company of Smallbone of Devizes, Mark Wilkinson, McCarron & Co and Brookmans and later this summer the firm plans to open a new state of the art £15m showroom for Smallbone in Knightsbridge.