Furniture giant MillerKnoll eyes Asia as growth engine

WHEN Herman Miller bought over fellow American office furniture company, Knoll, in a US$1.8 billion deal to form MillerKnoll in 2021, it created the world’s largest and most influential collective of modern design brands.

The combined portfolio of 14 brands under the two former rivals boasts iconic designs from celebrated names including Charles and Ray Eames, George Nelson, Bill Stumpf, Florence Knoll, Eero Saarinen, Ludwig Mies van der Rohe, Marcel Breuer and Marc Newson.

But with a business largely focused on the office and contract sector, MillerKnoll faced challenges to the top line posed by varying return-to-office rates after the pandemic. Higher borrowing costs, geopolitical concerns and a lagging US housing market were also blamed for a drop in sales. Revenue for its recent third quarter ended Mar 2, 2024, fell 11.4 per cent to US$872.3 million, below forecasts.