Herman Miller Makes Push to Enter Chinese Market, Attempts to Acquire POSH Office Systems

Furniture company Herman Miller has made a big move to enter into the potentially lucrative Chinese market this week, with the announcement that they will be attempting to acquire the Hong Kong-based POSH Office Systems. A similar company to Herman Miller, in that they design and build office furniture, some by a number of high-profile firms and individual designers, POSH posted sales of roughly $50 million last year and are expected to grow, given their opening of a new flagship store in Hong Kong last month. The two companies had been working together in a partnership since 2008, but this complete takeover should help give Herman Miller a strong push toward entering the Asian marketplace. The deal will take some to complete, working within “a legal structure in China necessary to complete the transaction.” If all goes as planned, the acquisition will be finalized in the first quarter of next year. Here’s word from Herman Miller’s CEO, Brian Walker:

“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.”