We are a leading designer and manufacturer of furnishings, textiles and fine
leathers for the workplace and home. For over a decade, we have been building
a constellation of high design, high margin businesses with a diversified design-driven
product portfolio and flexible business model that can perform in various business
cycles. Our commitment to innovation and modern design has yielded a comprehensive
portfolio of products designed to help clients create inspired workplaces and
residential settings. We provide enduring value as we help clients shape their
workplaces and homes with imagination and vision. Our products are recognized
for high quality and a sophisticated image and are targeted at the middle to
upper end of the market. We sell our products primarily through a direct sales
force, showrooms, and a broad network of independent dealers.
For 77 years, our clients have come to us for help, knowledge and products
to create inspired interiors. We have a history and reputation for design leadership,
quality and innovation in both the contract and residential markets. We continue
our relentless focus on providing solutions for these two clear segments. This
strategy has and will continue to substantively diversify our sources of revenues
and profits. Since our founding, we have been recognized worldwide as a design
leader within our industry. Our products are exhibited in major art museums
worldwide, including more than 50 pieces in the permanent Design Collection
of The Museum of Modern Art in New York.
We manage our business through three reporting segments: Office, Studio and
Coverings. The Office segment includes systems, seating, storage, tables, desks
and KnollExtra® ergonomic accessories as well as the international sales
of our North American Office products. The Studio segment includes our KnollStudio®
division, the Companys European subsidiaries which primarily sell KnollStudio
products, Richard Schultz® Design and, as of February 3, 2014, Holly Hunt
Enterprises, Inc. The KnollStudio portfolio includes a range of lounge seating,
side, café and dining chairs, barstools as well as conference, dining
and occasional tables. Richard Schultz® Design provides high-quality outdoor
furniture. Known for style and quality, HOLLY HUNT® produces and showcases
custom made product including indoor and outdoor furniture, lighting, rugs,
textiles and leathers. The Coverings segment includes KnollTextiles®, Spinneybeck®
(including Filzfelt®), and Edelman® Leather. These businesses serve
a wide range of customers offering high-quality textiles, felt, and leather.
When we refer to our “specialty” products or businesses in this
report, we are referring to our Studio and Coverings segments. See below for
a further discussion of the individual businesses within each segment.
We offer a comprehensive and expanding portfolio of high-quality furniture,
textiles and leathers across five product categories: (i) office systems, which
are typically modular and movable workspaces with functionally integrated panels
or table desks, worksurfaces, pedestals and other storage units, power and data
systems and lighting; (ii) office seating; (iii) files and storage; (iv) desks,
casegoods and tables; and (v) specialty products, including high-image side
chairs, sofas, desks and tables for the office and home, textiles, accessories,
leathers, designer felt and related products. Historically, we have derived
most of our revenues from office systems and from specialty products including
our KnollStudio collection of signature design classics furnishings, KnollTextiles
fabrics, Spinneybeck leathers, and Edelman leathers. However, in recent years,
we have significantly expanded our product offerings in seating, files and storage,
casegoods and tables and have reduced our dependence on office systems by further
growing our specialty businesses, which includes the addition of HOLLY HUNT
product offerings.
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