Flos B&B Italia Group announced on June 12 that it has agreed to sell heritage Danish lighting brand Louis Poulsen to Danish investment company Chr. Augustinus Fabrikker. According to Italian news agency Radiocor, the transaction, expected to close in the second half of the year, is valued at $541 million, and marks one of the first sales in a sweeping sell-off strategy anticipated for Flos B&B Italia.
“We believe that Chr. Augustinus Fabrikker is the perfect partner for Louis Poulsen, given its deep cultural alignment and long-term vision which will support the brand’s continued development and success in the years to come, while preserving its unique heritage,” Piero Gandini, executive chairman of Flos B&B Italia Group, said in a statement. The design conglomerate plans to use the proceeds from the sale to help pay down its outstanding debt, which, according to its 2025 financial statement, sits at roughly $1 billion.
First known as Design Holding, Flos B&B Italia launched in 2018 as a joint venture by two private equity giants—Investindustrial and The Carlyle Group—with a plan of eventually taking the company public. Central to the deal was Louis Poulsen, which has earned international recognition for its modernist lamps (most notably the iconic Artichoke light by Poul Henningsen) since its founding in Copenhagen in 1874. In its upcoming sale, Louis Poulsen joins a fellow historic Danish enterprise: Chr. Augustinus Fabrikker dates back to 1750 and is owned by a foundation dedicated to funding Denmark’s creative arts, cultural heritage and scientific research.
According to Louis Poulsen’s 2025 financial statement, the company is humming along: Last year it generated roughly $33 million in operating profit off of $150 million in revenue and, outside of long-term lease liabilities, has no significant debt on the books.
Though Flos B&B Italia Group’s design portfolio remains robust—including Flos, B&B Italia, Maxalto, Arclinea, Azucena, Audo and Lumens—the parent company has struggled to achieve profitability in spite of its prestigious holdings. In 2021, Canadian businessman and luxury brand veteran Daniel Lalonde took the helm as CEO, setting forth a mission to make the company the “LVMH of Home,” a strategy that never found its footing and resulted in him stepping down from his role in early 2025.
Gandini, who was previously CEO of Flos, has taken the opposite tack. Last year, he announced a plan to stabilize and sell off each brand in Flos B&B Italia’s portfolio—a goal he reiterated in the press release accompanying the sale of Louis Poulsen.
