In this article we discuss the 5 best furniture companies in the world. If you want to read our detailed analysis of the furniture industry, go directly to 10 Best Furniture Companies in the World.
5. Nitori Holdings Co., Ltd. (OTC: NCLTY)
Revenue: $5.9 billion in 2020 via Forbes
Nitori Holdings Co., Ltd. is the largest furniture and home furnishing chain based in Japan. The company ranks 5th in our list of best furniture companies in the world. It was founded in 1967 and its headquarters are located in Tokyo. It deals with the production and sale of interior goods and furniture through its group companies. Its product line includes beddings, carpets, rugs, mats, interior items, curtains, kitchenware, tableware, cookware, daily living items, bath ware, beds, sofas, living room storage, tables, chairs, storage racks, cupboards, bookshelves, office furniture, study desks, lighting products, and kitchen units. As of 2020, Nitori Holdings own more than 400 stores in Japan, and 50 stores internationally in United States, China, and Taiwan. In the US, its products are sold under the brand name Aki-Home. The company is also engaged in the logistics business, the advertising business, and the insurance agency business.
4. Shoprite Holdings Limited (Frankfurt: HY7.5)
Revenue: $11 billion in 2019 via Forbes
Shoprite Holdings Limited is an investment holding company which deals primarily with food retailing businesses in South Africa and other African states. The company operates through four segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other Operating segments. The Furniture segment involves in the retail operations under the OK Furniture and OK Power Express stores. Its products include clothing, furniture, general merchandise, bedding, carpeting, home entertainment, floor covering, household appliances, and soft furnishings. The company is headquartered in South Africa and currently employs over 147,000 people. The multi sector company has a market value of $4.988 billion as of 2020. According to Forbes, the company has a market capitalization of $7 billion as of 2019.
3. Jason Furniture (Hangzhou) Co.,Ltd. (Shanghai: 603816.SS)
Revenue: $11.02 billion in 2019 via WSJ
Jason Furniture is a China-based company that primarily deals with the design, development, manufacturing, and sale of bedroom and living room software furniture. The main products of the company include sofas, soft beds, chairs, and mattresses. It also provides design solutions and sells coffee tables, television cabinets and dining tables. The company was founded in 2006 and its headquarters are located in Hangzhou, China. Jason Furniture has a global distribution market that has allowed it to gain a market value of $3.892 billion as of 2020. It earned a revenue of $11.02 billion in the same year and has earned a spot in the 10 best furniture companies in the world.
2. Oppein Home Group Inc. (Shanghai: 603833.SS)
Revenue: $13.5 billion in 2019 via Yahoo Finance
Oppein Home Group Inc. is based in Guangzhou, China and is a key company in the furniture manufacturing industry of China. There are 64 companies in the Oppein Home Group which mostly deal with the manufacturing of household furniture products. The company designs, produces, and sells wardrobes, bathroom products, kitchen cabinets, along with other home decoration products. Its products are marketed worldwide. Oppein Home Group is the biggest custom-make kitchen cupboard producer in China. Its revenue in 2016 was $1 billion and has now risen to $13.5 billion in 2020, according to Yahoo Finance. Oppein home has over 3000 distributors and more than 4700 stores around the world. According to Forbes, the company sold 41.5 million new shares and raised $301 million in 2020 to increase its production capacity.
1. IKEA
Revenue: $47.1 billion in 2020 via Statista
One of the most popular furniture brand names that is renowned all around the world is IKEA. Based in Delft, Netherlands, IKEA is the largest furniture brand which operates in 433 locations around the world. The company is known for its branding which consists of furniture designed to be assembled by people themselves. This is done to provide affordable products to consumers by reducing the assembly cost of the products. Being one of the top 10 furniture brands in the world, IKEA has a large online presence. Its website lists over 12,000 products which generate 2.1 billion visitors per year. In 2020, the company’s website attracted over 4 billion visitors. However, its revenues were slightly affected due to the COVID-19 pandemic. In 2020, IKEA’s annual revenue was about 39.6 billion euros, down from 41.3 billion euros in the previous year.
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