MLKN | Market Cap: $1.6B (08/27/26)
Industry:
Housing & Household Durables

DESCRIPTION

MillerKnoll designs, manufactures, and sells furniture for commercial and residential environments. The company’s brand portfolio is anchored by Herman Miller and Knoll, alongside specialized brands like HAY, Muuto, and Design Within Reach. MillerKnoll operates through three segments: North America Contract, International Contract, and Global Retail. The contract segments sell office seating, workstation systems, and healthcare furnishings to organizations through a network of independent dealers and a direct sales force, recognizing revenue upon delivery. This business model relies on sales volume to leverage fixed manufacturing costs, and the company manages commodity inflation through list price increases and surcharges. The retail segment sells premium home furnishings directly to consumers through owned stores and e-commerce. MillerKnoll is pursuing a growth strategy focused on expanding its retail store footprint, particularly through smaller-format Herman Miller stores. The company also invests in product innovation for growth verticals like healthcare and education while expanding its dealer network in international markets. Key cost drivers include commodity prices for steel, aluminum, and plastics, as well as tariff exposure for imported components. MillerKnoll is also consolidating manufacturing facilities to improve operational efficiency.

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