Category: HOME TEXTILES
Country: Italy
Jean Marie Layton
Senior Editor for Upholstery
February 13, 2023
GREENSBORO, N.C. — Tiger Leather, a North Carolina-based manufacturer of leather for the home furnishings and hospitality industries has merged in a joint venture with Italian leather producer Gruppo Peretti.
The new venture, Peretti Leather Group, will be directed by Stefano Peretti, owner of Gruppo Peretti, and Frank Toledano, president and CEO of Tiger Leather. Operations will begin in the first quarter of 2023 in Greensboro, N.C., where Tiger Leather recently completed construction on a new corporate headquarters. The state-of-the-art facility has 24,000 square feet of warehouse space and 6,000 square feet of office space.
Gruppo Peretti is making a “multi-million dollar investment,” in the new venture, according to the company. Tiger Leather will roll all of its assets, marks and equity into the joint venture, including its senior leadership team, and it will be the first brand under the new company with more brands expected in the future. The funding will help Tiger Leather to expand its reach among its network of hospitality and furniture customers.
“For more than three generations, my family has crafted the finest Italian leather in the world,” said Stephano Peretti. “Many prominent Italian fashion houses utilize our leather, and the time has come to increase our footprint and expand our offerings in the United States.”
Toledano added, “We’ve been working with Stefano and the Peretti family since our inception more than 20 years ago, so this partnership makes practical sense for both companies. Gruppo Peretti tannery holding group is second to none, and we look forward to growing our hospitality and contract lines of business as part of Peretti Leather Group.”
Currently, including direct sales, residential home furniture comprises approximately 70% of Tiger Leather’s total revenue, with hospitality counting for rest. Its customers include Top 100 retailers.
In addition to the new facility, several machinery and equipment upgrades are planned that will expand the company’s production and storage capabilities. The additional square footage and modern upgrades will improve several core efficiencies, including labor, workflow and turnaround times.
“We have aggressive growth and expansion plans,” said Toledano. “By investing heavily in technology and new leather programs, we believe that Peretti Leather Group will be the preeminent provider of hospitality and contract leather within the industry.” The company will be looking into potential avenues for further growth including the aviation and automotive sectors.
Tiger Leather has a new permanent showroom at Market Square, space 403, in High Point as part of its expansion plans, and the company is gearing up for the Interwoven show this spring.
Since its inception, Tiger Leather has been a main supplier of high-end fashion leather to the hospitality industry, including MGM Resorts, Four Seasons Hotels & Resorts, The Peninsula Hotels and Tao Group. The company also offers fashion leather for the home under its residential brand, Tiger Leather Home. Tiger Leather is notable for its array of colors and textures, as well as its performance finishes, which include Spilltop Water Resistance and antimicrobial and cleanable Iconic formula.
Gruppo Peretti began in the 1950s under the entrepreneurship of Graziano Peretti in Arzignano, Italy. Today, the company operates as one of the largest tannery groups in Italy. Industries served include hospitality and design, automotive, furniture, footwear and fashion.
Courtesy: https://hfd.bridgetowermedia.com/acton/ct/41765/s-271e-2302/Bct/q-0052/l-0019:91ab0/ct6_1/1/lu?sid=TV2%3A6gGwK5Mn9
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