The Business Of Furniture ? Mergers And Acquisitions
LUXUO unpicks what happens when brands merge or get acquired by other companies to facilitate growth and scale up their businesses.
The post The Business Of Furniture ? Mergers And Acquisitions appeared first on LUXUO.
The furniture and lighting industry has had its fair share of mergers and acquisitions alongside experiencing massive economic shifts to scale up in different markets and gain industry dominance in recent years. LUXUO presents a handful of large furniture conglomerates that have displayed their “power” when plotting a dominant business strategy.
Herman Miller Purchased HAY
Hay + Herman Miller collection launched in 2022. Image: Herman Miller.
In 2019, American giant furniture brand Herman Miller gained a significant footing by purchasing Denmark-based furniture brand HAY, accelerating global growth for the latter. This acquisition also expands Herman Miller’s retail and contract furnishing footprint. Herman Miller acquired an additional 34 percent equity interest in HAY for approximately USD 78 million. In 2018, Herman Miller acquired a 33 percent equity interest in HAY, which means that the furniture giant now owns a majority 67 percent interest in HAY. Rolf and Mette Hay, co-founders and creative directors of HAY, own the remaining 33 percent of the equity in HAY.
HAY’s established footing in Europe and Asia in contract and residential furnishing markets had caught the attention of Herman Miller. The Scandinavian brand, founded in 20...
The post The Business Of Furniture ? Mergers And Acquisitions appeared first on LUXUO.
The furniture and lighting industry has had its fair share of mergers and acquisitions alongside experiencing massive economic shifts to scale up in different markets and gain industry dominance in recent years. LUXUO presents a handful of large furniture conglomerates that have displayed their “power” when plotting a dominant business strategy.
Herman Miller Purchased HAY
Hay + Herman Miller collection launched in 2022. Image: Herman Miller.
In 2019, American giant furniture brand Herman Miller gained a significant footing by purchasing Denmark-based furniture brand HAY, accelerating global growth for the latter. This acquisition also expands Herman Miller’s retail and contract furnishing footprint. Herman Miller acquired an additional 34 percent equity interest in HAY for approximately USD 78 million. In 2018, Herman Miller acquired a 33 percent equity interest in HAY, which means that the furniture giant now owns a majority 67 percent interest in HAY. Rolf and Mette Hay, co-founders and creative directors of HAY, own the remaining 33 percent of the equity in HAY.
HAY’s established footing in Europe and Asia in contract and residential furnishing markets had caught the attention of Herman Miller. The Scandinavian brand, founded in 20...
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