Competitive Hiring Environment and Shift Toward Collaborative Workspaces are Key Trends Underlying Knoll Momentum.
Andrew Cogan appeared in a video interview with TheStreet to discuss the company’s latest financial results and ongoing strategy to drive growth through diversification of its product portfolio. He also shared insights on major trends impacting the office design space.
Mr. Cogan noted that growth in the second quarter resulted from two main factors.
"First, organically, the core office business has been very strong, I think stronger than people expected," said Mr. Cogan. "What's happening in the office place -- you've got corporate profitability, service sector employment -- all those are positive backdrops to increasing office furniture demand."
"Number two, companies are changing the way they are working -- less space for individuals, more space for group and collaborative -- and our R&D efforts and our acquisition efforts have really been focused on what we call that ancillary part of the office -- the group areas -- and we've really strengthened our offerings."
He added as individual workspace shrinks, workstation performance increases. "You're seeing our fastest growing category is sit-stand desks and height adjustability, so while you're getting less space, you are getting more high performing space”.
"This aligns well with Knoll's capability, which is highly designed, differentiated products," Mr. Cogan said.
Mr. Cogan also commented on the global competitive landscape, Knoll’s recent acquisition of Muuto and the company’s improving margins. “We have a much more holistic approach now to the entire workplace, and that’s showing up in our results.”
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