MILAN, ITALY.- Last week in Milan an announcement was made that the Italian furniture company, Capellini has been sold to Poltrona Frau, a more conservative brand known for leather upholstery.  Capellini was began in 1946 and has been the regarded as the precursor of cool at the Milan furniture fair, and as a starting point for new designers on the verge of discovery.  It is now run by Giulio Capellini.

The Cappellini party, on the eve of the fair’s opening, is a required stop for anyone hoping to learn which way the design winds blow. One year’s splashy debut included models clad in Pucci-print bikinis prancing around sofas in matching fabrics. By comparison, last week’s event was a sober affair. Even the hors d’oeuvres went largely untouched, as the president of Poltrona Frau, Franco Moschini, stood before a small gathering to announce the acquisition, which was financed by Luca di Montezemolo, the president of Ferrari. .

"Giulio made us feel design was interesting, something we should talk about even on the weekends," said Marcel Wanders, the Dutch designer whose slipper chair made of string dipped in epoxy was made famous by Cappellini. "The big question is whether or not a big company can be as innovative as one person with a vision." .

Cappellini’s financial difficulties were the subject of rumors for years. Numerous designers, including Wanders, said that for the past year, they had not been paid royalties. Cappellini said that under the new arrangement, past debts would be paid. While Poltrona Frau did not disclose its buying price, Cappellini said that he had been forced to sell all of his shares in the company. He will stay on as creative director. "Without me," he said, "the name Cappellini is just an empty box."