Haworth, Inc. today announced 2017 global sales of USD $2.04 billion, a 5.3% increase from 2016 and fueled by growth in every region of the world.
The last time Haworth sales topped $2 billion was in 2000.
The company said that rising revenues were fueled by growth in every region of the world, the manufacturer said in a statement announcing 2017 revenues.
The private company doesn't report profits or any additional financial information in its annual announcement.
"The industry was largely flat. The growth we had was significant market share gain," Chief Financial Officer John Mooney told MLive/The Grand Rapids Press.
"I think we hit the sweet spot with a lot of solutions we've come out with," he said. "We feel like we have positioned ourselves well with innovation and a broad range of products."
It's the second year of mid-digit growth for Haworth. Last year, the company reported revenues grew 6.5 percent to $1.94 billion.
The company has been bolstered by a good economy. It's U.S. manufacturing operations - across Michigan, Mississippi and North Carolina -- will also benefit from the new corporate tax cuts.
“Haworth is celebrating another year of good financial results in 2017 and we are very proud of our strong growth,” said Franco Bianchi, Haworth President & CEO. “Our results demonstrate how well our strategy is working. The commercial interiors, lifestyle designs and performance technology businesses continue to evolve as the world of work and our customer needs change.”"I think it reinforces U.S. manufacturing," Mooney said.
CEO Franco Bianchi attributed the company's streak of strong results to the success of a longterm strategy, that has expanded products beyond the workplace.
In the last decade, Haworth has acquired more than a half dozen high-end brands such as Cappellini, Cassina, Poltrona Frau and JANUS et Cie.
Annual revenues reflect organic growth, Mooney said.
Haworth's announcement of near record revenues come as the family-owned company is celebrating its 70 anniversary.
Since G.W. Haworth started the company in 1948 in his Holland garage, the eponymous company has grown into a global leader providing interior furniture solutions for offices, home and travel.
"Our success is a direct result of our employee's contributions and the network of our dealers and vendors," said Bianchi, in a statement. "We thank our clients for our success. Because of the larger Haworth family of brands and designs, we are very optimistic about the next 70 years."
To mark the milestone, Haworth recently gave out a special bonus to all employees of the Haworth brand. The extra money is in addition to workers' annual merit and earned incentives.
In 2017, Haworth unveiled new products and refreshed spaces around the world.
During NeoCon, the industry trade show held in June in Chicago, Haworth launched over 20 new, award-winning products, as well as Haworth Collection partnerships with Pablo Designs and GAN rugs.
Two Haworth chairs received the Red Dot distinction for high quality design: Fern and Harbor Work Lounge.
Haworth continued a partnership with Patricia Urquiola and the team at Studio Urquiola for showroom design.
In the Chicago NeoCon showroom, the space showed how optimizing organizational culture through effective space design engages employees, increases performance and drives innovation.
The showroom displayed Haworth's organic workspace approach by integrating brands to meet space needs for clients with Cappellini, Cassina, Poltrona Frau and JANUS et Cie features.
The Chicago Haworth Health Environments showroom demonstrated a holistic and human-centered design approach to foster well-being.
In London and Zurich, the company also opened showrooms showcasing a Haworth and Cappellini experience.
Around the world, the company opened and refreshed showrooms in San Francisco, Washington DC, Chengdu in China; and three cities across India: Chennai, Delhi and Hyderabad.
Last year, Haworth was awarded WELL Certification - Pilot Program for its Los Angeles showroom by the International WELL Building Institute.
This prestigious distinction is the premier building standard to focus on enhancing people's health and wellness through the built environment.