Kokuyo Eyes $100 Mn India Sales in Office Furniture by 2030

16 May 2025 CW Team

Japan’s Kokuyo, which acquired office furniture maker HNI India last month from NYSE-listed HNI Corporation, is targeting over threefold growth in the country’s office furniture segment by 2030.

“India is central to our Asia growth story, alongside Japan and China,” said Koji Higashiguchi, Kokuyo’s India investment manager. “Following the acquisition of HNI India, our goal is to reach USD 100 million (Rs 8.5 billion) in annual office furniture revenue in India by 2030, leveraging the country’s economic momentum,” he added.

Mumbai-based HNI India currently generates annual revenue of around Rs 2.5 billion, growing at a pace of 15 per cent per year. India’s total furniture market—including residential, retail, and office furniture—is estimated at Rs 1.4 trillion and is expanding at 13–14 per cent annually, according to industry analysts. HNI’s major competitors include Godrej, Steelcase, and Featherlite.

Karan Sachdev, Managing Director of HNI India, now a Kokuyo company, stated that the firm is exploring “all options” for accelerating growth. Plans include scaling up manufacturing, diversifying its product range, tapping more institutional clients, and developing India as an export hub. HNI India currently operates a 350,000 sq ft manufacturing facility in Nagpur and employs 350 people—numbers expected to rise as the company enters a growth phase.

Globally, Kokuyo derives half of its USD 2.25 billion annual revenue from office furniture, with the remainder split between stationery and office supplies, the latter being exclusive to Japan. By 2030, the group is targeting USD 3.5 billion in global revenue, with India playing a pivotal role thanks to its rapid urbanisation, economic formalisation, and a growing young workforce.

Sachdev also hinted at potential acquisitions to close product portfolio gaps in India. “We will consider all opportunities. Kokuyo’s global office furniture expertise will be instrumental in driving our growth here,” he said.

Kokuyo is expected to support HNI India through its focus on spatial design, collaborative workspaces, and advanced seating and workstation solutions—areas in which HNI has traditionally been strong, according to Higashiguchi.

This marks Kokuyo’s second acquisition in India after it took over stationery brand Camlin in 2012. Now called Kokuyo Camlin, the company is listed on Indian stock exchanges and posted Rs 8.16 billion in revenue in FY24, up 5 per cent year-on-year, with net profit rising 83 per cent to Rs 440 million.

HNI India also plans to expand its 30-strong dealer network and direct sales force to support its expansion across the country

Japan’s Kokuyo, which acquired office furniture maker HNI India last month from NYSE-listed HNI Corporation, is targeting over threefold growth in the country’s office furniture segment by 2030.“India is central to our Asia growth story, alongside Japan and China,” said Koji Higashiguchi, Kokuyo’s India investment manager. “Following the acquisition of HNI India, our goal is to reach USD 100 million (Rs 8.5 billion) in annual office furniture revenue in India by 2030, leveraging the country’s economic momentum,” he added.Mumbai-based HNI India currently generates annual revenue of around Rs 2.5 billion, growing at a pace of 15 per cent per year. India’s total furniture market—including residential, retail, and office furniture—is estimated at Rs 1.4 trillion and is expanding at 13–14 per cent annually, according to industry analysts. HNI’s major competitors include Godrej, Steelcase, and Featherlite.Karan Sachdev, Managing Director of HNI India, now a Kokuyo company, stated that the firm is exploring “all options” for accelerating growth. Plans include scaling up manufacturing, diversifying its product range, tapping more institutional clients, and developing India as an export hub. HNI India currently operates a 350,000 sq ft manufacturing facility in Nagpur and employs 350 people—numbers expected to rise as the company enters a growth phase.Globally, Kokuyo derives half of its USD 2.25 billion annual revenue from office furniture, with the remainder split between stationery and office supplies, the latter being exclusive to Japan. By 2030, the group is targeting USD 3.5 billion in global revenue, with India playing a pivotal role thanks to its rapid urbanisation, economic formalisation, and a growing young workforce.Sachdev also hinted at potential acquisitions to close product portfolio gaps in India. “We will consider all opportunities. Kokuyo’s global office furniture expertise will be instrumental in driving our growth here,” he said.Kokuyo is expected to support HNI India through its focus on spatial design, collaborative workspaces, and advanced seating and workstation solutions—areas in which HNI has traditionally been strong, according to Higashiguchi.This marks Kokuyo’s second acquisition in India after it took over stationery brand Camlin in 2012. Now called Kokuyo Camlin, the company is listed on Indian stock exchanges and posted Rs 8.16 billion in revenue in FY24, up 5 per cent year-on-year, with net profit rising 83 per cent to Rs 440 million.HNI India also plans to expand its 30-strong dealer network and direct sales force to support its expansion across the country

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..