Two of the biggest names in American design are joining forces. Famed furniture manufacturer Herman Miller has bought a controlling stake in Design Within Reach (DWR), the modern furniture retailer. According to a release, Herman Miller has purchased an 84 percent stake in DWR for a price of $154 million. DWR’s CEO John Edelman and president John McPhee will continue to lead the retailer, which currently has 38 locations in North America, as well as e-commerce and the popular catalogue. DWR has recently been upgrading their stores and refocusing on architects and interior designers as well as consumers. A new Manhattan flagship store opened this spring.
“The addition of DWR is a transformational step forward in realizing our strategy for diversified growth and establishing Herman Miller as a premier lifestyle brand, helping people create inspiring places where they work, live, heal and learn,” Herman Miller CEO Brian Walker said in a statement. “This combination expands our reach in the higher margin consumer sector and we have identified multiple points of strategic leverage that will benefit our other segments and operations, as well as DWR’s own growth plans.”
The move may be a canny one for Zeeland, Michigan–based Herman Miller. DWR already sells many Herman Miller products as well as pieces by Herman Miller’s competitors including Knoll, Vitra, and Cassina. Herman Miller has been on a buying spree; last year they acquired the renowned textile company Maharam.
Post new comment