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HOLLAND, Mich. – Office furniture giant Haworth reported $2.5 billion in 2022 sales, a substantial 27.5% increase over 2021. According to the company, it was the “best global sales performance” in its history.
“Achieving this level of sales is an important milestone for Haworth with credit due to the entire organization and our dealer partners,” said Franco Bianchi, president and CEO of the privately owned company. “Together with our clients and suppliers, we faced a tumultuous 2022 and achieved these results with deliberate strategy, a diversified portfolio and design innovation.”
Sales growth was seen in all business segments, which include office, hospitality and home furniture.
Bianchi told MiBiz that it introduced “a full pipeline” of products over the past 18 months that capitalize on work trends that began over the pandemic.
“In this moment in 2022, when many of our clients were challenged by ‘How do I bring my people back to the office, how (does) this space need to look,’ and ‘I have not spent any money on space, but now I’m ready to,’ the brands and the teams and our dealers were ready to intersect a lot of those questions,” he told MiBiz.
The contract and office furniture industry has reported mixed results as of late:
- Kimball reported a 21% increase in second quarter sales, its fourth consecutive quarter of growth.
- HNI reported a 6% decrease in fourth quarter sales this month.
- Steelcase last announced third quarter earnings in December, which amounted to $826.9 million – a 19% gain. The company is under pressure however from inflation and decreased orders, prompting it to engage in layoffs and other cost-cutting measures.
