Driade makes comeback

Having collapsed last year due to debts that reached €1.7m, Italian furniture brand Driade has been saved by investment company Italian Creation Group.

The private finance company fronted the €7m necessary to rebuild the company, with plans to take 80% of the design firm’s equity in the process.

John Perissinotto and Stefano Core, from Italian Creation Group, plan to relaunch Driade as Core is set to take over as the company’s president.

Driade is a popular Italian design studio that has created iconic pieces of furniture through collaborations with superstar designers like Phillipe Starck, Fabio Novembre and Ross Lovegrove.