HOLLAND – Office furniture manufacturer Haworth Inc. reported an increase in sales for 2019.
The company said it generated $2.25 billion in global sales in 2019, a year-over-year increase of 5 percent, according to an announcement made today. The growth was on par with what the company reported for 2017 and 2018.
The growth comes partially from strong sales in commercial interiors and the company’s “lifestyle design” residential division, according to Franco Bianchi, president and CEO of Haworth.
“We have optimism for a strong 2020. Across our business and sectors, we have made strategic investments to move the needle at an even more aggressive pace,” Bianchi said in a statement.
Haworth’s 5 percent growth is right on trend for the U.S. office furniture market and above projected total industry growth for the year in North America, according to the Business and Institutional Furniture Manufacturer’s Association (BIFMA).
As a privately-held company, Haworth publicly reports annual sales but does not disclose earnings.
Haworth has been based in Holland since 1948 and operates showrooms, manufacturing or retail in 120 countries and employs more than 7,500 people.
The company, which has a large manufacturing and sales presence in China including showrooms in Beijing, Shanghai and Chengdu, might be facing significant headwinds from the outbreak of coronavirus in the country, Bianchi hinted.
“There will be continued elements of global volatility,” he said, referring to the upcoming year. “The unfortunate coronavirus epidemic is just one that weighs heavily on our minds. Our thoughts and prayers go to the many people being impacted.”