The published financials of Milan Direct show it was barely profitable for 2013 and 2014 and lost money in 2015
TPW paid $9million cash for Milan Direct plus shares
What on earth is going on out there?
Actually I looked at buying furniture from Milan Direct but realised it was the usual cheap and nasty Chinese imports and decided to pay double or more buying from Matt Blatt ( also from China but not cheap and nasty). It is much more satisfying paying for quality. I get fancy Italian fabric instead of Chinese synthetics. I have done business with China manufacturers and you can get excellent quality if that is your market.
I think they are doomed to burn through the remaining net cash of around $15million
TPW Price at posting:
20.5¢ Sentiment: Sell Disclosure: Not Held
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