Italian Radical Design acquires Memphis Milano

The iconic Memphis Milano company, founded by designer Ettore Sottsass, has been bought by Italian Radical Design, which also owns furniture company Gufram.

Memphis Milano, which was founded in Italy in 1980 and is also known as Memphis Group, was purchased by Italian Radical Design in an acquisition that is intended to "preserve and enhance" the design brand.

"Italian Radical Design was born with the objective of preserving and enhancing Italian design brands that are characterised by an unconventional approach," said Italian Radical Design.

"The recent acquisition allows Italian Radical Design to access Memphis Milano’s precious cultural heritage and historical archive with the objective of strengthening its stylistic identity, while making it more contemporary," the brand continued.

Italian Radical Design also owns Italian manufacturer Gufram, which it acquired in 2012.

Memphis Milano exhibition to be held in 2022

While Memphis Milano will now be under the direction of Italian Radical Design founders Sandra and Charley Vezza, it will continue with its current organisational structure.

Italian Radical Design also revealed there will be a large Memphis Milano exhibition this year that will "showcase all its creations."

Top: Memphis Milano's furniture has been acquired by Italian Radical Design Above: Memphis Group member Peter Shire's Bel Air armchair

The company decided to acquire Memphis Milano to expand its brand.

"After 10 wonderful years with Gufram we have decided to expand to new worlds, dedicating our time to a project that has the objective of revitalising historic Italian design brands that are united by an unconventional, radical and non-conformist vision," said Italian Radical Design CEO Charley Vezza.

"The acquisitions for us are not only guided by reason, but also from the heart: we like being captured by the stories, the projects, the people," he added.

Details of acquisition not revealed

No financial details of Italian Radical Design's procurement of Memphis Milano have been disclosed.

Memphis Group was a design collective founded by Sottsass that produced distinctive designs between 1981 and 1988. The Memphis movement is typified by clashing colours, unexpected formal arrangements and colourful plastic materials.

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Projects designed by the Memphis Group between 1981 and 1988 including geometric tables and Peter Shire's Bel Air armchair are still manufactured by Memphis Milano.

Although the Memphis Group only existed in its original form until 1988, its influence can still be seen in the work of contemporary designers today, as in the boldly patterned home accessories collection by British artist Camille Walala and a modular chair collection by Thai design studio Kaoi.

The photography is by courtesy of Italian Radical Design.

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Nike gets "metaverse-ready" with acquisition of virtual sneaker company RTFKT

Sportswear brand Nike has announced its acquisition of RTFKT, a digital design studio producing trainers and other collectibles that can be worn across different online environments.

Buying RTFKT could help Nike ramp up its own production of virtual wearables without having to rely on outside help. RTFKT's products include neon-coloured platforms that it created with The Fabricant.

At the same time, Nike is hoping to provide the start-up with the funding to further explore the possibilities presented by the metaverse, the emerging digital universe where people can experience a parallel life to their real-world existence.

Top image: RTFKT joins Jordan and Converse in Nike's stable of brands. Above: virtual trainers created with The Fabricant

"This acquisition is another step that accelerates Nike's digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture," said Nike CEO and president John Donahoe.

"Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike's digital footprint and capabilities."

The companies did not disclose the terms of the deal.

RTFKT, which was founded by Benoit Pagotto, Chris Le and Steven Vasilev in January 2020, creates "metaverse-ready sneakers and collectibles" with the aim of bringing the scarcity culture of streetwear and limited-edition drops to the digital world.

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A post shared by RTFKT Studios (@rtfktstudios)

The Fabricant x RTFKT trainer was sold as an NFT

"Since we started, we always looked up to Nike, with the goal to create the Nike born on the metaverse," Pagotto tweeted.

So far, the company has released a virtual sneaker in collaboration with crypto artist FEWOCiOUS that sold out in just under seven minutes, as well as working with artist Takashi Murakami to create a series of rare avatars that can be used across games and augmented reality applications.

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Unlike the virtual trainers released by Gucci and Buffalo London earlier this year, which are not truly owned by the buyer as they cannot be sold on, each RTFKT product is backed by a non-fungible token (NFTs).

This blockchain-based certificate of ownership is linked to a digital asset to verify its authenticity and chain of custody, meaning that it can be collected, traded and sold on for profit, much like a real trainer.

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RTFKT has created avatars in collaboration with Takashi Murakami

At only two years old, RTFKT is the youngest brand in Nike's roster, which otherwise includes only other legacy footwear brands such as Converse and Jordan.

The news comes after Nike trademarked the use of its logos and slogans for digital wearables last month and launched its own virtual Nikeland world within the online game Roblox, where players could buy branded products for their avatars.

A slew of other fashion brands has begun investing in the metaverse including Louis Vuitton and Balenciaga, both of which have released video games to supplement their real-life catwalk shows.

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Furniture brands raise prices due to "excessive rise" in cost of materials and transport

Leading furniture and homeware brands including IKEA, Piet Hein Eek and Axor are raising prices by up to eight per cent due to global shipping issues and material shortages.

Brands are blaming "exponential" increases in the cost of raw materials, with some costs now "more than double" previous levels.

Dutch designer Piet Hein Eek's eponymous brand announced last week that it will introduce "inevitable" price increases of eight per cent from January.

"Due to the worldwide shortage and price increases of raw materials, in combination with the excessive rise in international transport costs, we are forced to raise our prices," said the brand.

This follows increases of approximately five per cent announced earlier this month by bathroom company Hansgrohe and its sister brand Axor, effective from January, while IKEA warned in November of an expected price increase in 2022.

Global supply chain crisis

The issues are a symptom of the global supply chain crisis, which has primarily been blamed on labour shortages and the Covid-19 pandemic.

Furniture brands have been impacted by both shortages of delivery transportation and raw materials, which have been delaying production and driving up the costs.

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"When the world economy began to emerge from the interruption caused by Covid, I don't recall many forecasters predicting either the disruption and shortages there would be to global supply chains, nor the scale of price increases, particularly to commodities, labour and transportation," said Andy Tatton, group sales director for British furniture brand Boss Design.

Boss is one of several brands that have warned of plans to raise prices, but are still yet to reveal the scale of the increases.

More increases to be announced

Although the company already raised its prices in May 2021, Tatton said that a further increase will be applied in January 2022, to reflect "the level of sustained increases since then".

"We are still finalising the exact price changes, and, as in May, these will be applied on a range-by-range basis to reflect the relevant increases to input costs," said Tatton.

British brand Hølte, which offers a range of products for fitted kitchens, is similarly planning to raise its prices in 2022 after seeing the cost of birch plywood and medium-density fibreboard (MDF) "more than double" in price.

"This year we have seen exponential price increases to most, if not all, our materials," said Hølte director Fiona Ginnett.

"To date we have absorbed the cost increases either in part or in full. However in January we will see yet more increases, including 13 per cent on the price of all laminates, so we will unfortunately be forced to increase our prices for the first time."

IKEA will pass costs on to retailers

IKEA's plans to raise prices were revealed in November after Inter IKEA Group – the company that supplies stock to IKEA store franchisees – released its summary for the 2021 financial year.

Although the furniture giant experienced record sales during the pandemic, its pretax profit fell 16 percent from the previous year, a loss of €320 million (£273 million). It said "the steep increase in transport and raw material prices" was to blame.

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Speaking to Reuters, chief financial officer Martin van Dam said that IKEA has been absorbing these increased costs in order to keep its product prices stable.

But with supply chain issues expected to continue well into 2022, the company plans to pass some of the higher material and transport costs on to store owners, who will have final say over the extent of the price adjustments.

"The scarcity and pricing of raw materials, and then the logistical problems – that means it will be difficult to grow in FY22," Van Dam told Reuters. "Of course we plan for growth, we will go for it, but it's going to be very, very hard work in our supply chain, and with our retailers as well."

Coronavirus and labour shortage to blame

Global supply chain issues can be attributed to a combination of factors, according to research by think tank Institute for Government.

During the early stages of the Covid-19 pandemic, social distancing restrictions and the general economic downturn led to a slowdown in manufacturing.

In many instances, the shortages were high up in production supply chains – with examples including glues and resins – which is why the impact is only now being felt.

The pandemic also exacerbated the shortages of skilled labour that were already being felt worldwide, with the haulage and warehousing industries among those worst affected.

For the UK, the issues are believed to have been further worsened by Brexit. Industries that have typically relied on a workforce from the European Union (EU) are finding it harder than ever to recruit staff, while border issues have impacted international deliveries.

Designers and architects told Dezeen "everything has become an admin nightmare" following the UK's departure from the EU.

The main image is byShutterstock.

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Material Bank buys Clippings to speed digitisation of "one of the few remaining sectors" to be transformed by technology

US architecture and design materials marketplace Material Bank has acquired UK interior design procurement firm Clippings.

The American firm has bought 100 per cent of the London-based company for an undisclosed sum in a move that it claims will help transform the design sector via technology.

"This sector is one of the few remaining sectors that really has not been touched significantly by technology," Clippings executive chairman and co-founder Adel Zakout told Dezeen.

"If you kind of zoom out and look at the way business is done in the design, real estate and construction sector, it's still a very low single-digit percentage that goes through some kind of online presence."

"So I think there's this huge, huge opportunity in this industry."

Acquisition comes after Material Bank funding round raises $100 million

Material Bank, which currently only operates in the USA, provides architects and designers with a one-stop shop for material samples.

Founded in 2014, the service is free to designers and promises next-day delivery for samples of fabrics, finishes, tiles and other materials ordered via the Material Bank website.

Samples are picked and packed by robots at Material Bank's vast distribution warehouse at Olive Branch, Mississippi. The company raised $100 million in a funding round in May this year, valuing it at almost $1 billion.

Above: Clippings founders Adel Zakout and Tom Mallory. Top image: Adam Sandow in Material Bank's robot-controlled warehouse

Material Bank was founded by Adam Sandow, an entrepreneur who also owns Sandow Media, which acquired Metropolis magazine in 2019 and took over the management of New York's NYCxDesign festival in 2020.

"Both businesses historically have tried to really leverage technology to create a better experience in this industry, especially in the purchasing process, by enabling all the different stakeholders to connect online through technology," Zakout said.

"So we're incredibly excited about the fact that we're able to join forces and really do more together."

Clippings acquisition "key driver" for overseas expansion

Clippings, founded by former Architecture Association students Zakout and Tom Mallory in 2014, allows architects and interior designers to specify products including furniture and lighting.

It also provides design brands with e-commerce solutions, allowing them to build their own online marketplaces. In April this year, it worked with Herman Miller (now MillerKnoll following its acquisition of Knoll) to launch Herman Miller Professional.

The service allows small and medium-sized customers to build project boards online and order Herman Miller products at preferential rates.

“Clippings has made significant advances in the way architects and designers specify in Europe," said Sandow, who is CEO of Material Bank.

"With 70 per cent of revenue coming from the UK, and offices in London and Bulgaria, this acquisition will be a key driver as Material Bank expands its footprint overseas."

"The complex multi-billion-dollar design industry is one of the last to be digitally transformed," said Material Bank.

"Material Bank and Clippings are driving advancements through a powerful blend of innovation and technology, delivering modern solutions for streamlining the entire design process."

Images courtesy of Clippings and Material Bank.

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