16 Major Events In Global Home Furnishing Industry

- Nov 11, 2020-

AYFAIR's revenue in the second quarter of 2020 increased by 83.7% year-on-year, while that of purple2020 increased by 60.3%. Home Depot opened three new distribution centers, Lowe's announced the transformation of its supply chain, and BMS, an American indoor cleaning brand, announced the transformation of its supply chain Cat acquired firedex from Pittsburgh, Italian design brand artemist completed equity financing of $5 million, MIFF opened online for the first time, 2020 connect will launch a three-day virtual trade event Exhibition

These are the big news of global home furnishing enterprises from August 3 to August 17!

Leggett & Platt reported second quarter results with net sales of $845 million

On August 3, Leggett & Platt released its second quarter results report, in which sales in the second quarter were $845 million, down 30% year-on-year. After reaching its lowest point in early April, sales rose throughout the quarter, with liquidity of $1.3 billion as of June 30.

Established in 1883, Leggett & Platt consists of 15 business units in 18 countries, 23000 employee partners and 145 facilities.

Leggett&Platt mainly produces: (A) bedding parts; (B) car seat support and lumbar system; (C) special bedding foam and special finished mattresses; (D) household furniture and working furniture components; (E) floor mats; (F) adjustable bed; (G) bedding supplies industrial machinery.

Leggett & Platt accounts for 46% of its net sales in 2019, and its innovation and leadership in the bedding industry has been 135 years. The U.S. finished mattress market is about $10 billion, of which $8 billion comes from mattresses, according to IBPA.


WAYFAIR, the largest furniture e-commerce brand in the United States, announced its performance in the second quarter of 2020 with a year-on-year growth of 83.7%

On August 5, WAYFAIR, the largest furniture e-commerce brand in the United States, announced that its total net income in the second quarter of 2020 would increase by $2 billion to $4.3 billion, up 83.7% year-on-year. Among them, the net income of the US market increased by US $1.7 billion, an increase of 82.5% year-on-year; the net income of overseas market increased by US $3102 million, a year-on-year increase of 90.5%.

As of June 30, 2020, the number of active customers in direct retail business reached 26 million, with a year-on-year increase of 46.0%.

WAYFAIR generated $11.5 billion in net revenue in the 12 months to June 30, 2020. Headquartered in Boston, Massachusetts, the company operates in North America and Europe with more than 16200 employees.


Purple releases record second quarter performance in 2020, net revenue up 60.3%

On August 13, American smart mattress manufacturer purple announced net income of $165.1 million in the second quarter as of June 30, 2020, up 60.3% from $103 million in the second quarter of 2019. Compared with the same period last year, the gross profit rate increased from 41.5% to 49.4%; the adjusted net income increased from $2.6 million to $30.6 million; and the adjusted EBITDA increased from $6.2 million to $35.2 million.

"This is a record quarter in terms of revenue and operating revenue," said Joe megibow. We have successfully utilized the advantages of the business model and the changes in consumer buying behavior brought about by covid-19. After a brief scale recovery, the rapid increase in production and fulfillment capabilities and a shift in focus to digital roots to capture growing online demand has led to triple digit growth in the mattress business. "

As of June 30, 2020, purple had $95.4 million in cash and cash equivalents, up 184.8% from $33.5 million as of December 31, 2019. Compared with March 31, 2020, it increased by 261.7%. The company expects to invest some of these resources in capital expansion and the expansion of its own stores, and may be affected by the shift of channels to wholesale.


Home Depot will open three new distribution centers in Georgia

On August 4, home depot announced that it would open three new distribution centers in Georgia to meet the growing demand of pro and DIY customers for flexible delivery and pickup options. The expansion is expected to bring about 1000 additional jobs worldwide. Home Depot plans to open a new "flat panel delivery center" in stonecrest in 2021 to provide both pro and DIY customers with the same day and the next day's delivery of large and large orders; and to open an order fulfillment site in China in the second half of the same year.

On August 11, home depot donated the kits to national organizations such as the American boys and girls club, toolbank and YMCA, and will continue to donate the kits until the workshop is resumed. In the past four years, more than 500000 children's workshop kits have been donated, covering more than 100 non-profit organizations and schools across the country. The home depot workshop for children has provided more than 60 million children with their first DIY experience since 1997.

Home Depot also works with social media influencers to bring traditional children's workshop courses into life. Add new virtual projects to the collection every month to keep kids engaged. In addition to donating to non-profit organizations, the kids workshop kit is also provided for free in store collection on the first Saturday of each month.

Lloyd's expanded its supply chain network and announced the opening of its second direct distribution center

On August 12, Lowe's announced an update of its supply chain transformation to improve home delivery and support the growing demand of DIY and pro customers. In the next 18 months, the company plans to open 50 cross terminal delivery terminals, 7 bulk distribution centers and 4 e-commerce fulfillment centers. By the second half of fiscal year 2020, 20 cross terminal and one west coast e-commerce implementation center will be completed.

In October, Lowe's opened its second direct e-commerce fulfillment center in California on the west coast of the United States, which will provide consumers with faster transportation options. The direct fulfillment center will improve the two-day delivery method to cover nearly 100% of customers nationwide.

"Providing customers with more ways to shop has never been so important," said don friedson, executive vice president of Lowe's, and today's latest information on the progress of supply chain transformation highlights our firm commitment to continuously enhance the customer experience of the new era. The opening of the new facility will improve the customer experience by improving process management and inventory visibility, and achieving more predictable delivery, better inventory rates and faster fulfillment. "


Mitchell Gold + Bob Williams announced plans to expand its virtual interior design

On August 11, Mitchell Gold + Bob Williams, an American furniture maker, announced the expansion of its virtual home design services to bring form, function, fashion and full cycle environmental awareness into these products. Now a complete new online design process has been developed and plans to continue to expand within a year.

Allison O'Connor, President and chief executive officer of Mitchell Gold + Bob Williams, said: "in the past few months, about half of our appointments have been made with new customers in places where we don't have a store, and have been able to develop and expand the customer base radius in areas with store locations. As the program expands, we will seek to hire and train more designers and expand our product range to cover bags, carpets, decorations and decorations. "

Mitchell Gold + Bob Williams was founded in 1989, and its interior is decorated by a modern, nearly 1 million square foot handmade factory in tylesville, North Carolina. "Made in America" is not just a slogan, but the soul of Mg + BW spirit. In autumn 2020, the focus will be on how people live and work at home, as well as all-weather family experiences such as quiet space and good sleep.

(Mitchell Gold+Bob Williams)

Us interior cleaning brand BMS cat acquires firedex of Pittsburgh

On August 11, BMS cat announced the acquisition of firedex, enabling us to provide the most reliable service to our customers in Pennsylvania and the northeastern periphery states.

The acquisition is the third acquisition strategic plan for BMS cat's growth, which marks the next step in its strategic plan to expand nationwide. The company previously acquired diamond restoration, a marble, stone and wood restoration brand in North Carolina in January 2020, and Jarvis restoration in Michigan in July 2020.

Firedex was founded in 1981 to provide immediate 24-hour emergency response and the highest level of professional customer service for water and fire damage repair and mold treatment.

Blackmon mooring & BMS cat started as a furniture and dye store in 1948. It started its business in 1949, providing carpet cleaning, air duct cleaning and interior decoration cleaning, and developed a patented steam cleaning process. In addition to regular cleaning, Blackmon mooring also provides home restoration services after disasters such as fires and floods, with service stations in 31 regions of the United States.

In 1981, the company added the BMS cat division and has grown from a private start-up in Texas to one of the country's largest national repair companies.

(Blackmon Mooring&BMS CAT)

Omni workspace company announced investment in Steelcase distributor, North Dakota

On August 4, interior service brand Omni workspace company announced that it had purchased a minority stake in hannaher's interior design brand workplace interiors, a distributor of Steelcase, an office space service brand, headquartered in Fargo, North Dakota.

"Our alliance strategy with women entrepreneurs and leaders enhances our strength as a partner and creates a unique advantage for customers seeking to diversify their current and future suppliers," Wilson said

Based in Minneapolis, atmosphere Commercial Interiors has offices in Wisconsin, Illinois and Arizona. It has a long history in the office furniture industry, serving start-ups to Fortune 500 companies, as well as organizations of all sizes in the global healthcare, education and hotel industries.


Patrick industries completes acquisition of plywood company

On August 3, Patrick industries announced the completion of the acquisition of plywood company inland, which mainly serves the marine market as well as leisure vehicle (RV) and industrial markets. Indland, headquartered in Pontiac, Michigan, has revenue of about $60 million in fy2019.

Indland's Integrated Lean supply chain model provides customers with a convenient one-stop solution for the procurement of value-added plywood and specialty boards, warehousing and inventory management, customer service and logistics. The acquisition of inland includes the acquisition of working capital, machinery and equipment and real estate. Patrick will continue to be independent of its brand name in its existing facilities.

Founded in 1959, Patrick industries has more than 150 manufacturing and distribution facilities in the United States, Canada, China and the Netherlands. It is a major manufacturer and distributor of spare parts and construction products in the leisure vehicles, industrial housing and shipbuilding industries, and also provides many products to certain industrial markets, including residential, high-rise buildings, hotels, kitchen cabinets, office and household furniture, fixtures and commercial furniture, and customers in other industrial markets.


Italian design brand artemist has raised more than $5 million in equity financing

On August 7, Italian luxury design brand artemist increased its total capital to US $11 million and obtained equity investment of US $5 million. Nuo capital, an investment company, supported the company's development in a financial and strategic way. In addition, IAG, the investor of seed round, continued to participate in the investment, and Bagheera holding also participated in the investment.

"We are honored to continue to support artemist's management team in this amazing business and welcome new investors with strong international influence and know-how," said Tommaso Paoli, CEO of Nuo capital

Artemist's mission is to provide international recognition for small luxury brands, craftsmen, designers and artists and bring their business abroad. It not only provides selected marketing services, but also provides first-class services such as concierge service, logistics support and marketing, attracting customers from more than 70 countries / regions around the world. Artemist recently introduced more than 1000 craftsmen and luxury brands and signed exclusive distribution agreements with most of them.


The first MIFF furniture online exhibition opens

On August 10, MIFF opened online for the first time, allowing global furniture buyers and furniture manufacturers and exporters to purchase furniture online in real time.

MIFF furniture program will hold three on-site furniture market activities. The first is the Asia Pacific market (August 11-13), the second is North America and South America (August 18-20), followed by Europe, the Middle East and Africa (August 26-28).

Founded in 1995, MIFF furniture is the largest, largest and largest industrial trade exhibition of its kind in Southeast Asia, serving 20000 furniture professionals from 140 countries / regions. The online exhibition brought together 70 exhibitors, attracted nearly 1000 global buyers from 85 countries and regions to register, and a large number of buyers from North America, Africa and Eastern Europe joined MIFF's traditional Asia Pacific core buyers.


2020 connect will launch a three-day virtual trade show

On August 11, 2020 connect announced its first virtual trade show, which will set up six virtual booths from September 1 to September 3 to provide customers with applications and enterprise solutions for interior design, space planning and furniture manufacturing.

The three-day free online event will feature more than 60 unique themes, including ERP solutions for the woodworking industry, transforming network traffic into qualified potential customers, office design and sales strategies for the post pandemic world, and design advice from expert kitchen and bathroom experts.

Founded in 1987, 2020 connect, headquartered in Laval, Quebec province, has more than 850 employees. It has direct business units in 9 countries / regions including Austria, China, France, Germany, India, North America, Russia and the United Kingdom, and supports customers in more regions of the world through a network of value-added distributors.

2020 connect will extend not only to manufacturers and retailers, residential and commercial designers, but also to provide end-to-end solutions for the entire industry, from drawing boards to workshops, from warehouses to worksheets, from inspiration to installation.

(2020 Connect)

Comet smart launched smart bedside table to solve the troubles of bedside

On August 12, comet smart announced that it would launch its new smart bedside table for the first time on indiegogo. The innovative bedside table integrates wireless charging, internal cooler and smart home control to solve the common nighttime and morning troubles through thoughtful functions.

Led by a team of former Apple engineers and product designers, comet's smart bedside table has an ultra modern look and feel, comparable to the advanced design furniture provided by European design giants. It includes full surface wireless charging, smart home control interface (control room temperature, curtains, speakers, lights and locks), internal cooler (can store cosmetics, drinks, snacks and more), ambient lighting (motion sensors can detect your feet in low light conditions and activate soft ambient lighting).

Comet home was founded in 2018 by leading product designers and hardware experts in San Francisco, California. The company is committed to providing innovative home solutions directly to consumers. The company carries out internal design and development, and has the support of senior professionals in product design, injection molding and electrical design.


Walker Edison 1003 at 2020 Inc. 5000

On August 12, the magazine disclosed that Walker Edison Walker Edison, Inc. 5000's home furnishing e-commerce brand, ranked 1003 of the year, ranked the most prestigious and the fastest growing private company in the United States. The list represents a unique view of the most successful companies in the most dynamic segment of the U.S. economy (independent small businesses).

The 2020 Inc. 5000 company is highly competitive in the market and shows an amazing growth compared with the previous list. The three-year average growth rate of 2020 Inc. 5000 is hard to achieve

"We are honored to be on the Inc. 5000 list," said Brad Bonham, CEO of Walker Edison. Rapid growth in 2020 has accelerated our growth rate and we look forward to being part of this list for many years to come. "


Herman Miller claimed $3.3 million to protect iconic designs from trademark infringement

On August 7, the European furniture design brand Herman Miller's Eames Aluminum Group series products were infringed by another company, office star products. The court ruled that Herman Miller was awarded 3.3 million US dollars (about RMB 23 million).

Andi Owen, President and CEO of Herman Miller, said: "the economic damage to company revenue, shareholder returns and job losses due to infringers and counterfeits is unacceptable. The fight against infringers is not just about protecting Herman Miller's intellectual property, heritage, customers and future, but also protecting companies, designers and consumers around the world from counterfeiting products. "

Herman Miller is a globally recognized provider of furniture and related technologies and services. Since its inception in 1905, the company has relied on innovative design to help people do great things. This global design leader has developed into the Herman Miller group, a family of brands that work together to provide products for people's living, learning, working and rehabilitation environments.

The brand line includes Colebrook Bosson Saunders, design in reach, Geiger, hay, Maars living walls, maharam, naughtone, nemschaff and Herman Miller.

(Herman Miller)

Other industry research observation data report

The global opportunities of home decoration market from 2020 to 2027 are expected to reach 838.6 billion US dollars in 2027

On August 11, research and markets released a report on global opportunity analysis and industry forecasts (2020-2027). In 2019, the value of the global home decoration market is $616.6 billion, which is estimated to reach $838.6 billion by 2027, with a compound annual growth rate of 3.9% from 2020 to 2027.

Research and markets found that the global home decoration market is highly fragmented due to international and regional organizations. In developed areas such as the United States, Canada and Germany, the adoption rate of home decoration products is very high, while in emerging countries such as China, Brazil and India, it is growing steadily. Low cost home decoration manufacturers are expected to emerge in China and Vietnam, which will drive the growth of the global market. However, the availability of low quality and counterfeit products has limited the growth of the global market. Therefore, the lack of skilled workers, inefficient transportation and lack of infrastructure may become obstacles to the global home decoration market.

Research and markets research shows that the development of the real estate industry is promoting the growth of the global home decoration market in the current situation, and is expected to grow at a stable rate in the forecast period. In addition, the increase in the number of small houses promotes people to use products with extra storage space, enhances the aesthetic appearance of houses, and environmental protection home decoration products are becoming more and more popular among consumers.