HNI Corp - Company Profile
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Business Description
HNI Corp (HNI) designs, manufacturers, markets of furniture and hearth products. The company workplace furnishings include seating, furniture systems, storage, tables, and architectural products. It sells the products through a national system of office product distributors, independent dealers, and wholesalers, eCommerce retailers and directly to end-user customers and federal, state, and local governments.
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R&D Overview
The company’s R&D arm mainly focuses on development of relevant and differentiated end-user solutions focused on quality, style, aesthetics, sustainable design, and lower manufacturing costs. As of January 2022, the company owned 83 US and 76 foreign patents with expiration dates till 2042 and had 26 US and 14 foreign patent applications pending. Moreover, the company holds 168 US and 323 foreign trademark registrations and 19 US and five foreign trademarks applications pending. In FY2022, the company incurred expenses of US$47.8 million on R&D, which as a percentage of revenue, stood at 2%.
Business Segments
Overview
Offers a full array of electric, gas, wood, and pellet-fuelled fireplaces; stoves; inserts; facings; outdoor fire pits and fire tables, and related accessories. Major brands include Heatilator, Heat & Glo, Quadra-Fire, Harman, Vermount Casting, Pelpro, Majestic, Stellar, SimpliFire, The Outdoor GreatRoom Company, and Monessen. Sells products through a national system of independent dealers and distributors, and company-owned installing distribution and retail outlets. Operates manufacturing facilities in Minnesota, Iowa, Pennsylvania, and Vermont in the US.
Performance
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Overview
Designs, manufactures, and commercializes furniture systems, storage, tables, seating, and architectural products. Markets products under the Allsteel, Hon, Gunlocke, HBF, HBF Textiles, Respawn, Beyond, OFM, Respawn, and HNI India brands. Sells products through a national system of independent dealers, eCommerce retailers, office product distributors, and wholesalers directly to end-user customers and federal, state, and local governments. Operates manufacturing facilities in Iowa, Georgia, Lowa, New York, and North Carolina in the US, Mexico, and India.
Performance
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