<SEC-DOCUMENT>0001157523-14-000910.txt : 20140303
<SEC-HEADER>0001157523-14-000910.hdr.sgml : 20140303
<ACCEPTANCE-DATETIME>20140303064536
ACCESSION NUMBER:		0001157523-14-000910
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140303
FILED AS OF DATE:		20140303
DATE AS OF CHANGE:		20140303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATUZZI S P A
		CENTRAL INDEX KEY:			0000900391
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11854
		FILM NUMBER:		14658142

	BUSINESS ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALY
		STATE:			L6
		ZIP:			70029

	MAIL ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALTY
		STATE:			L6
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATUZZI INDUSTRIES SPA
		DATE OF NAME CHANGE:	19950823
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a50815380.htm
<DESCRIPTION>NATUZZI S.P.A. 6-K
<TEXT>
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      <font style="font-size: 12pt; font-family: Times New Roman">Securities
      and Exchange Commission</font><br><font style="font-size: 12pt; font-family: Times New Roman">Washington,
      D.C. 20549</font><br><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>Form
      6-K</b></font><br><br><br><font style="font-size: 12pt; font-family: Times New Roman">Report
      of Foreign Issuer</font><br><font style="font-size: 12pt; font-family: Times New Roman">Pursuant
      To Rule 13a-16 Or 15d-16</font><br><font style="font-size: 12pt; font-family: Times New Roman">Of
      The</font><br><font style="font-size: 12pt; font-family: Times New Roman">Securities
      Exchange Act of 1934</font><br><br>
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            <font style="font-size: 10pt">For the month of </font><font style="font-family: Times New Roman; font-size: 10pt"><b>March,
            2014</b></font>
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          &#160;
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        <td style="width: 33%; padding-left: 0.0px; text-align: right" valign="top">
          Commission File Number 1-11854
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    <p style="text-align: center">

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            <font style="font-size: 14pt"><b>NATUZZI S.p.A.</b></font>
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            <font style="font-size: 10pt">(Translation of registrant's name
            into English)</font>
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      <br>

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          Via Iazzitiello 47
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          70029 Santeramo, Italy
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          (Address of principal office)
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    <p style="text-align: center">

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      <br>

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    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant files or will file annual reports
      under cover of Form 20-F or Form 40-F:</font><br><font style="font-family: Times New Roman; font-size: 10pt">Form
      20-F</font><font style="font-family: Times New Roman; font-size: 10pt"> </font><font style="font-family: Arial Unicode MS; font-size: 11pt">&#8864;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Form 40-F </font><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant by furnishing the information
      contained in this Form is also thereby furnishing the information to the
      Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
      of 1934. &#160;Yes </font><font style="font-family: Arial Unicode MS; font-size: 12pt">&#8414;</font><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;
      No </font><font style="font-family: Arial Unicode MS; font-size: 11pt">&#8864;</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">If &quot;Yes&quot; is
      marked, indicate below the file number assigned to the registrant in
      connection with Rule 12g3-2(b):</font>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Natuzzi:
      Board of Directors Approves 2014-2016 Business Plan</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Recovery
      of competitiveness: end to losses from operations forecast from fourth
      quarter 2014, return to profitability and growth anticipated from 2015</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>&#8364;611
      million in revenues and EBIT of 3.9% forecast in 2016</b></font></i>
    </p>
    <p>
      MILAN--(BUSINESS WIRE)--March 3, 2014--Natuzzi S.p.A. (NYSE:NTZ), the
      largest furniture house in Italy and the player with the greatest global
      reach in its sector, announced today that its Board of Directors has
      approved a Business Plan (the &#8220;Plan&#8221;) for the 2014-2016 period.
    </p>
    <p>
      The Plan, which is anchored by the company&#8217;s foundational values of
      ethics and social responsibility and based on its points of strength
      (high brand awareness, innovation, industrial know-how and a global
      presence), has the following primary objectives: regaining market
      competitiveness, eliminating losses from operations by the fourth
      quarter of 2014 and spurring a new phase of growth in revenues, with a
      return to profitability beginning in 2015.
    </p>
    <p>
      The company will seek to regain market competitiveness and eliminate
      losses through a restructuring phase that envisions:
    </p>
    <p style="margin-left: 30.0px">
      1. <b>Strong recovery of the competitiveness of its Italian operations</b>,
      which will be accomplished through the joint efforts of the company,
      unions, government and Italian regions of Puglia and Basilicata in
      implementing the industrial reorganization plan that was agreed upon on
      October 10, 2013 and entails both investments and a reduction in
      production costs.
    </p>
    <p style="margin-left: 30.0px">
      2. <b>Strong recovery of worldwide productive efficiency</b>, which will
      be accomplished through the adoption of 24 industrial product platforms,
      which are the result of the re-engineering of existing models and the
      design of new models according to the new moving-line production
      process; and the complete implementation of the moving-line production
      process in all of the Group&#8217;s factories worldwide (in Italy, China,
      Romania and Brazil).
    </p>
    <p style="margin-left: 30.0px">
      3. <b>Efficiency improvements in the back office processes on a
      worldwide basis</b>, through the implementation of a centralized shared
      service structure that has been designed to reduce costs and address
      unemployment among white collar workers in the company&#8217;s home region.
    </p>
    <p style="margin-left: 30.0px">
      4. <b>Efficiency improvements in the supply chain</b>, through a
      reduction in inventory levels, optimization of transportation and a new
      logistics organization.
    </p>
    <p style="margin-left: 30.0px">
      5. <b>Rationalization of the retail network </b>through the closure of
      13 under-performing stores that are owned and managed directly by the
      Group.
    </p>
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    </div>
    <p>
      Beginning in <b>2015, the Plan foresees a gradual growth in revenues and
      a return to operating profit</b>, through the implementation of:
    </p>
    <p style="margin-left: 30.0px">
      1. A <b>marketing and distribution strategy</b> aimed at:
    </p>
    <p style="margin-left: 60.0px">
      a) capitalizing on investments in the Natuzzi brand, which will become
      the sole brand within the Group, and which, in 2013, remained the brand
      with the highest level of awareness in its sector among consumers of
      luxury goods;<br>b) organizing its offerings into three lines of
      products: Natuzzi Italia, Natuzzi Editions and Natuzzi Re-vive;<br>c)
      expanding the <b>distribution</b> of the Natuzzi brand through <b>wholesale
      distribution channels</b> and through the strengthening of the <b>retail
      network</b>, which will be developed under the &#8220;Natuzzi Italia&#8221; and
      &#8220;Natuzzi&#8221; names outside of Italy and Portugal and &#8220;Divani &amp; Divani by
      Natuzzi&#8221; within those two countries;<br>d) reinforcing the <b>division
      dedicated</b> to the sale of unbranded/private label products to
      mass-market dealers.
    </p>
    <p style="margin-left: 30.0px">
      2. <b>A commercial strategy </b>that is focused on increasing sales in
      markets with high growth rates and in those mature markets where the
      Natuzzi brand is most recognized, as well as defending market share in
      Europe.
    </p>
    <p style="margin-left: 30.0px">
      3. Strengthing investments in <b>marketing and communications.</b>
    </p>
    <p style="margin-left: 30.0px">
      4. <b>A new commercial organization</b>, both at a centralized level and
      in local markets, that is calibrated based on growth forecasts.
    </p>
    <p>
      <b>Pasquale Natuzzi</b>, founder, President and Chief Executive Officer
      stated, &#8220;This Plan is the culmination of an enormous effort over the
      last three years and is being adopted in the context of greater changes
      that we have implemented over the last ten years. During the last
      decade, we managed the challenges imposed on us by globalization with
      consistency, investing in the Natuzzi brand, the opening and development
      of the retail network, the upgrading of production facilities in Italy,
      the opening of factories and commercial offices abroad, integrating
      processes with the adoption of a single management information system
      (SAP) and the innovation of products and processes.&#8221;
    </p>
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    <p>
      &#8220;All of this was achieved despite a decade that was marked by an
      unfavorable macroeconomic environment, a strong euro and a significant
      drop in the consumption of durable goods. Today we are the only global
      player in our industry that operates in over 123 countries and Natuzzi
      remains the most globally-recognized furniture brand among consumers of
      luxury goods.&#8221;
    </p>
    <p>
      &#8220;Starting from this background and taking inspiration from our ethical
      and social values, we have developed a plan that we anticipate will
      allow us, beginning in the fourth quarter of this year, to eliminate
      losses from operations and, beginning in 2015, to return to
      profitability. After the first two years of the plan, which will be
      dedicated to restructuring and implementation of the strategy, the plan
      anticipates an increase in sales and a return to profitability.&#8221;
    </p>
    <p>
      &#8220;Based on a recovery in the competitiveness of our production process,
      which we hope to achieve by executing our Italian industrial plan, in
      accordance with the commitments made by the company, unions, government
      and regions in the agreement of October 10, 2013; ample room for growth
      within the recliner armchair market &#8211; which we have seized upon with the
      introduction of our innovative Re-vive performance recliner &#8211; and
      planned investments in marketing and communications, we believe that all
      the conditions for growth in sales exist and anticipate revenues by the
      end of the three-year period amounting to &#8364;611 million.&#8221;
    </p>
    <p>
      &#8220;The approval by the members of the Board of Directors, whom I thank for
      the confidence they have shown in us, gratifies the entire management
      team, but instills us with a great sense of responsibility. We are aware
      of the great challenges that await us and are highly motivated to
      achieve the ambitous objectives under the Plan.&#8221;
    </p>
    <p>
      <b>NATUZZI S.P.A.</b>
    </p>
    <p>
      Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs,
      manufactures and sells a broad collection of couches, armchairs, home
      furniture and home accessories. With consolidated revenues of &#8364;468.8
      million in 2012, Natuzzi is Italy&#8217;s largest furniture house and the
      player with the greatest global reach in its sector, with seven
      manufacturing plants, twelve commercial offices and more than 1,200
      points of sale worldwide. Ethics and social responsibility, innovation,
      industrial know-how and integrated management of its value chain
      represent the points of strength that have made the Natuzzi Group a
      market leader and established Natuzzi as the most recognized furniture
      brand in the world among consumers of luxury goods. Natuzzi S.p.A. has
      been listed on the New York Stock Exchange since May 1993. The Company
      is ISO 9001 and 14001 certified.
    </p>
    <p>
      <b>CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS</b>
    </p>
    <p>
      Certain statements set forth in this press release regarding Natuzzi&#8217;s
      Plan constitute forward-looking statements within the meaning of the
      safe harbor provisions of Section 27A of the Securities Act of 1933, as
      amended, and Section 21E of the Securities Exchange Act of 1934, as
      amended. These statements involve risks and uncertainties that could
      cause Natuzzi&#8217;s actual results to differ materially from those stated or
      implied by such forward-looking statements. The potential risks and
      uncertainties associated with the Plan include, among others, the
      uncertainty concerning Natuzzi&#8217;s ability to achieve the objectives set
      forth under the Plan, the company&#8217;s ability to reorganize its
      manufacturing facilities and adjust the composition of its workforce,
      the cost of implementing the Plan and the impact that the company&#8217;s
      initiatives may have on its competitiveness and profitability, and the
      conditions in the macroeconomic environment and the accuracy of the
      assumptions upon which the Plan is based, among others. More information
      about potential factors that could affect the Company&#8217;s business and
      financial results is included in Natuzzi&#8217;s filings with the Securities
      and Exchange Commission, including the Company&#8217;s Annual Report on Form
      20-F for the year ended December 31, 2012 and its quarterly results for
      the quarter ended September 30, 2013, filed on Form 6-K. Natuzzi
      undertakes no obligation to update any of the forward-looking statements
      after the date of this press release.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><b>NATUZZI INVESTOR RELATIONS</b><br>Piero Direnzo; tel.
      +39.080.8820.812<br><u>pdirenzo@natuzzi.com</u><br>or<br><b>NATUZZI
      CORPORATE COMMUNICATION</b><br>Vito Basile (Press Office); tel. (+39)
      080.8820.676<br><u>vbasile@natuzzi.com</u>
    </p>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font><font style="font-family: Times New Roman; font-size: 10pt">
      </font>
    </p>
    <p>

    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.</font>
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            NATUZZI S.p.A.
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          &#160;
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          (Registrant)
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            &#160;
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            &#160;
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            &#160;
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            Date:
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>March 3, 2014</b>
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            By:
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt">/s/ Pasquale Natuzzi</font>
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            <font style="font-size: 10pt">Pasquale Natuzzi</font>
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