From significant business changes to noteworthy product launches, there’s always something new happening in the world of design. In this biweekly roundup, AD PRO has everything you need to know.
In the News
IKEA US launches Interior Design Service
IKEA’s vast range of minimalist decor and DIY furniture comes to the rescue of many a budget-friendly home revamp. But now, the behemoth retailer is elevating its shopping experience with the rollout of Interior Design Service. Through the nationwide program, both consumers and businesses fill out digital questionnaires detailing their design goals before being matched with an appropriate expert. Over the course of three affordably priced virtual one-on-one sessions, the designer will tackle everything from mood boards to 3D renderings to product lists that will bring the customer’s dream space to life. The best part? Assembly and installation are included in the plan.
AD PRO Hears…
…that Neri&Hu’s Rossana Hu has been named a tenured professor and the chair of the Department of Architecture at the University of Pennsylvania Stuart Weitzman School of Design (effective January 1, 2024), making her the third woman to lead the department.
…that AD100 designer Jeremiah Brent will be the voice of Ideas of Order, the new eight-episode podcast series by California Closets. With guests such as Nate Berkus, Rachel Zoe, Athena Calderone, and more, Brent will delve into the spaces and routines that make each feel most at home.
Business
At risk of closure, Tupperware seeks additional financing
The future of Tupperware, which was launched in 1946 and became a household name for kitchen and food storage, is wavering, as the company’s stock price continues to decline following the New York Stock Exchange’s threat to delist the company after it failed to file its 2022 annual reports. A regulatory filing produced earlier this month cited a “substantial doubt about the company’s ability to continue as a going concern,” and the company is reassessing its cash management and real estate portfolio, among other corporate facets, and seeking additional financing. “Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” said Miguel Fernandez, president and chief executive officer of Tupperware Brands, in a statement. “The Company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.”
AD PRO Hears…
…that two Italian design leaders will now join forces, as Cassina SpA announced its acquisition of Zanotta earlier this month. The deal moves Zanotta into the portfolio of Cassina parent company Haworth Lifestyle Design group, which also owns Cappellini, Ceccotti, Character, Poltrona Frau, Luxury Living, Janus et Cie, Luminarie, and Interni.
Openings
