The company was founded in 1966 by the Busnelli family, who manages the company.

B&B Italia has won four Compasso d'oro (Golden Compasses), the most prestigious Italian Design award. In 1974 Sisamo Studio Kairos, 1979 Le Bambole Mario Bellini, 1987 Sity Antonio Citterio and in 1989 B&B Italia became the first company to be recognised with a Compasso d'oro directly awarded to a design manufacturing company. Since 1966 there have been over 1000 B&B Italia designs (including prototypes).

Designers who have worked with the B&B Italia design department include Antonio Citterio, Patricia Urquiola, Gaetano Pesce, Naoto Fukasawa, Zaha Hadid, Marcel Wanders, Richard Sapper, Afra and Tobia Scarpa, Jean-Marie Massaud, Jeffrey Bernett, Mario Bellini and many others