The Rosenberg Evolution: How a Chilean Mattress Maker is Building a Future-Proof Family Office
For decades, the story of Rosen has been synonymous with comfortable nights in Chile and beyond. But behind the mattresses and furniture, a quiet transformation has been underway. The family office, Lemu Lafquen Investments – named for “forest in the water” in the indigenous Mapudungun language – is undergoing a strategic overhaul, signaling a shift from a founder-led enterprise to a professionally managed, diversified investment powerhouse. This isn’t just about succession planning; it’s a blueprint for longevity in a rapidly changing economic landscape.
The Generational Shift and the Rise of Professional Governance
José Rosenberg, the 92-year-old founder who built Rosen from a small workshop into a Latin American success story, stepped down from day-to-day management in December 2023. This pivotal moment prompted his three daughters – Verónica, Gloria, and Rebeca Rosenberg Sanguinetti – to seek external expertise. Enter Claudio Muñoz, former president of Telefónica Chile and a seasoned director of multiple companies, who now chairs Lemu Lafquen Investments. This move isn’t simply about bringing in a fresh perspective; it’s about injecting a layer of professional governance crucial for navigating the complexities of a multi-generational family business.
“Before it was just my grandfather, and today the three daughters are the main shareholders,” explains Cristián de Giorgis, the major grandson of José Rosenberg and current CEO of Lemu Lafquen. “The idea is to coordinate better as a Rosen controller group. Claudio has not only professionalism but a close connection to us, and it’s been a super good match.” The appointment of Muñoz, coupled with the expansion of the executive team – including a CFO and heads of real estate and investment – demonstrates a clear commitment to institutionalizing the family office.
Beyond Mattresses: Diversification into Real Estate, Startups, and Beyond
Lemu Lafquen Investments is no longer solely defined by Rosen. The family office has strategically diversified into three core verticals: real estate, finance (including startup investments), and the industrial/commercial businesses anchored by Rosen itself. This diversification isn’t accidental; it’s a calculated move to mitigate risk and capitalize on emerging opportunities.
The real estate portfolio is particularly noteworthy. Recent acquisitions, like the complete purchase of an outlet mall in Temuco, demonstrate an appetite for growth. Furthermore, the family is re-evaluating its significant holdings in wineries, considering both potential sales and strategic investments to enhance profitability. This willingness to adapt and optimize existing assets is a hallmark of a forward-thinking investment strategy.
Perhaps the most intriguing aspect of Lemu Lafquen’s diversification is its foray into the startup world. Investments in companies like Total Lawyers (offering accessible legal services) and Spora (a biotechnology firm pioneering “leather” from fungal mycelium – spora.bio) signal a commitment to innovation and a desire to support the next generation of entrepreneurs. This isn’t just about financial returns; it’s about fostering an entrepreneurial spirit within the family and contributing to a broader ecosystem of innovation.
The Third Generation Takes the Helm
The rise of Cristián de Giorgis as CEO of Lemu Lafquen represents a crucial handover of leadership. His background – a blend of engineering, international experience, and a deep understanding of the Rosen business – positions him well to navigate the challenges and opportunities ahead. He’s not alone; other members of the third generation, like Gianfranco Zirotti Rosenberg, are taking on key roles within the family businesses, ensuring continuity and a fresh perspective.
This generational transition is being carefully managed, guided by a formal pact and protocol established in 2019 with the assistance of EY. This framework addresses issues of entry, operation, and conflict resolution, providing a stable foundation for long-term success. The family’s proactive approach to governance underscores its commitment to preserving the legacy of José Rosenberg for generations to come.
The Future of Family Offices: Lessons from Lemu Lafquen
The evolution of Lemu Lafquen Investments offers valuable lessons for other family offices. The key takeaways are clear: embrace professional governance, diversify beyond core businesses, empower the next generation, and establish robust frameworks for managing succession and potential conflicts. As family wealth continues to grow globally, the need for sophisticated, future-proof family office structures will only intensify. The Rosenberg family’s journey demonstrates that adapting to change, embracing innovation, and prioritizing long-term sustainability are essential for ensuring lasting success. What will be the next frontier for family offices seeking to navigate an increasingly complex world? The answer likely lies in a continued focus on strategic diversification, technological integration, and a commitment to responsible investing.
