MILAN — Shrugging off an uncertain economy, Holland, Mich.-based Haworth Group said it sees growth in 2025.
“This was a solid year for our company as we weathered headwinds from geopolitical uncertainty and foreign currency fluctuation. We are positioned well for future growth,” said Haworth Group president and chief executive officer Franco Bianchi in a statement on Thursday.
The U.S. conglomerate which owns furniture and lighting brands like Poltrona Frau, Cappellini, Cassina, Janus et Cie, Luminaire, Ceccotti Collezioni, Karakter, Luxury Living Group, Interni and Zanotta said it booked $2.5 billion for 2024, in line with the prior year.
“Both commercial and lifestyle sectors performed and showed resilience as Haworth Group focused on execution and delivering great solutions to our customers,” Bianchi continued.
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During 2024, Haworth Group said it was focused on the introduction of fresh designs like Poltrona Frau’s design-forward Squash Collection designed by British designer Faye Toogood as well as Cassina’s iconic Galaxy pendant lamp designed by late American design duo Charles and Ray Eames.
The Group also expanded: Poltrona Frau opened a flagship showroom in New York City, Cassina opened a new store in Zhuhai, China, and Haworth broke ground on a second state-of-the-art factory in Chennai, India.
Founded in 1948, the Haworth Group is a privately owned company operating in more than 150 countries through a global network of 400 dealers and 8,000 employees.
In 2023, U.S.-based Ralph Lauren signed a long-term strategic deal with Haworth Lifestyle Design that is mapped to expand the production and distribution of Ralph Lauren’s Italian-made furniture.
Under terms of the deal, Haworth is responsible for product development, sourcing and manufacturing, marketing and wholesale account management for the Ralph Lauren furniture business. Haworth also committed to taking on post-order customer service and white glove delivery for Ralph Lauren’s e-commerce operations and existing stores.
In February, a source told WWD that Haworth made an informal offer of between 800 million euros and 1 billion euros for Flos B&B Italia’s furniture division that was refused. At the time, Haworth declined to comment. The furniture arm of Italy-based conglomerate Flos B&B Italia includes vanguard brands B&B Italia, Maxalto, Denmark-based Audo Copenhagen, Azucena and kitchen brand Arclinea.
Into 2025, luxury home companies have listed unpredictable geopolitics, declining consumer confidence, trade policy, and difficult housing markets in the U.S. and China as major challenges for the ongoing year.
