Top Workspace Decor Companies
The top three companies designing/selling workspace décor to mid-market offices include HNI Corporation, Knoll Associates, and Inscape. Below is a methodology that was used during this research.
We started the research by looking at corporate profiling websites like Crunchbase, Craft, and Hoovers for information on office décor companies in the US. However, while these sources provided the names of companies that are active in this sector, there was limited information on whether these companies served mid-market offices and whether they could be included in the top three list.
On Craft, there was a news report displayed at the bottom of an office décor company profile which noted the death of Florence Knoll Bassett who was described as ‘The Designer of the Modern American Office.' As such, our search shifted to determine the firm established by this individual, Knoll Associates, which is referred to as the largest and most prestigious high-end design company of its kind. Our focus was to find if the company handles mid-market offices. Based on the company’s annual report, it was stated that some of its workspace customers include medium- to large-sized companies, government offices, and Fortune 1000 companies in various sectors.
In the 2018 Fortune 1000 company list provided by Geo Lounge, the company that is in the 1000th position is HCP Inc. and Crunchbase notes its annual revenue as $1.8 billion. According to the Bloomberg profile page of HCP Inc., the company has 201 employees. As the revenue and the number of employees of this company match with the mid-market office definition of this investigation, it is highly possible that all the other Fortune 1000 companies, ranked above HCP Inc., have more revenue and number of employees than HCP Inc. Hence it was assumed that if Knoll Associates is catering to Fortune 1000 companies, it is also catering to many mid-market offices. This assumption was also made because the 2018 annual report of Knoll Associates states that their workspace customers are medium-to-large sized organizations.
The next step was to determine if Knoll Associates can be included in the top three list in the sector. The description of Knoll Associates, as the largest company of its kind by the New York Times report, suggests that this company is possibly among the top three companies in this sector. The Craft.co profile of the company states that 62.8% of its revenue comes from office decor. The competitors of Knoll Associates as listed by Craft.co are HNI Corporation, Inscape, Aerogrow International and Maisons du Monde.
The annual revenue and percentage segments of their revenue from office decor, of the total revenue, are as given below:
Knoll Associates- annual revenue- $1.3 billion; office decor segment percentage of the total revenue- 62.8% = $1,300,000,000 x (62.8/100) = 816400000 = $816.4 million.
HNI Corporation- annual revenue- $2.3 billion; office decor segment percentage of the total revenue-76.3% = $2,300,000,000 x (76.3/100) = 1754900000 = $1754.9 million.
Inscape- annual revenue- $95.3 million; according to the 2018 annual report of Inscape, the company solely is an office furniture manufacturer; Hence its office decor segment revenue = $95.3 million.
AeroGrow International- annual revenue- $32.3 million- This company is an in-home garden systems developer and seller. Its annual report 2018 presents office decor as only a small part of its activities and limited to the sale of flowers.
Maisons du Monde mainly sells homeware products and does not sell much of office decor. As such, it was excluded from the list.
Based on these calculations, the top three companies in the sector include HNI Corporation, Knoll Associates, and Inscape.
TOP THREE COMPANIES DESIGNING/SELLING WORKSPACE DÉCOR FOR MID-MARKET OFFICES
The biggest and most prestigious company in this sector is Knoll Associates. It caters to Fortune 1000 companies and medium to large sized organizations. As such, Knoll Associates caters to mid-market offices. Fortune 1000 companies refer to firms with over ten employees and earnings of over $100 million, which places them as either large or mid-market companies.
The main competitors of Knoll Associates are Aerogrow International, Inscape, HNI Corporation, and Maisons du Monde. Below is a share of the market held by each firm:
- Knoll Associates: Annual revenue is $816.4 million, office décor accounts for 62.8% of the total revenue.
- HNI Corporation: Annual revenue is $1,754.9 million, office décor accounts for 76.3% of total revenue.
- Inscape: Annual revenue of $95.3 million, manufactures office furniture and the revenue is from office décor.
- Aerogrow: Annual revenue of $32.3 million, has a small office décor segment that only sells flowers.
- Maisons du Monde: Deals in homeware products and not office décor.
Therefore, the top three companies in the US that design/sell workspace décor for mid-market offices include Knoll Associates, Inscape and HNI Corporation.