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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Herman Miller complete POSH acquisition.

Tuesday 17 April 2012

Herman Miller completed its previously-announced $50m acquisition of POSH Office Systems, the Hong Kong based designer, manufacturer, and distributor of office furniture systems. POSH reported annual revenues of approximately $60 million in2001. Operating with five major showroom locations, including the largest commercial furniture showroom in Hong Kong, the company distributes through a franchise networking in China and more than 30 international locations worldwide. The acquisition follows a successful alliance between POSH and Herman Miller begun in September 2008. Eric Yim, POSH President and Chief Executive Officer, said,” With the completion of the agreement we are excited to see POSH become part of the Herman Miller global family. We now have the full strength and resources of an international leader combined with the market insights, products, and experience of a highly respected Chinese furniture brand—there is tremendous opportunity for us ahead.”Brian Walker, Herman Miller’s President and Chief Executive Officer, stated, “POSH has been a great partner and I’m delighted that they are joining the Herman Miller family. China is an enormous growth opportunity and through POSH we gain immediate access to the Chinese market. As the demand for high quality seating and furniture continues to grow in the region, we anticipate a significant increase in the sales of Herman Miller products through the POSH dealer network. With an expanded product offer through POSH, we can also look beyond China to other markets and customers we’re not presently serving. Together we have a very bright future.”

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