Haworth reported global sales of $1.81 billion in 2020, a 19% drop from the previous year.
Despite the loss, the Holland-based company says its performance was “better than expected.” It credited efforts to diversify its product offerings.
“Haworth responded to the events of 2020 by leveraging our differentiation and global reach,” President and CEO Franco Bianchi said in a statement.
“The effect has been very different across our business segments, with commercial interiors being hit less than originally expected. Diversification between commercial interiors, lifestyle design and performance technology further enhanced our financial performance and, more importantly, all sectors learned to engage their market through digital experiences.”
He added, “We have entered 2021 with optimism, especially for the second half of the year.”
Haworth’s 2019 global sales totaled $2.25 billion, the company reported.
Bianchi said Haworth, which started in 1948 as an office furniture manufacturer, has worked to diversify its products over the years by expanding into digital workspace software, providing outdoor and in-home furniture, and expanding into markets throughout the world.
He expressed optimism about the future of the office furniture industry. Haworth is developing products to ensure companies have the tools to bring employees back to work safely.
“We want to make sure that we have a product solution that can be relevant to what they need and effective for this new work environment,” Bianchi said.
Since G.W. Haworth started the company in 1948 in his Holland garage, the company has grown into a global leader providing interior furniture solutions for offices, home and travel.
The global company has over 7,000 employees and 650 dealers. It has over 2,500 employees in Michigan, with locations in Holland, Big Rapids and Ludington.