Latest news with #KaranSachdev
Fashion Network
02-05-2025
- Business
- Fashion Network
Japan's Kokuyo to acquire HNI Corporation's India business
Japanese business Kokuyo Company Limited has entered into a definitive agreement to acquire HNI Corporation's India business, HNI Office India Ltd, as part of its long-term strategy to strengthen its presence in the Indian commercial workspace and retail segments. 'This acquisition brings together two complementary players,' said HNI India's managing director Karan Sachdev, Indian Retailer Bureau reported. 'Becoming part of the Kokuyo family enhances our ability to deliver innovative, human-centred workplace solutions tailored for the Indian market.' The acquisition supports Kokuyo's 'CCC 2030' vision—launched in 2021—which targets USD 3.5 billion in net sales by 2030. The 'CCC' (Change, Challenge, Create) framework is built on the company's 'Forest-Type Management Model,' aimed at promoting sustainable and organic growth across work, learning, and lifestyle segments. HNI India, known for its office furniture manufacturing and use of Japanese kaizen principles, is expected to expand Kokuyo's manufacturing base and customer network in India and neighbouring Asian markets. The company currently operates in major Indian cities and will support Kokuyo's regional growth plans. The move is designed to reinforce Kokuyo's commitment to India and is expected to broaden its reach in the evolving South Asian workspace market. 'India is key to our growth story in Asia," said Kokuyo's managing officer Masahiro Fukui. "With HNI India's strong customer base, we gain an ideal platform to accelerate Kokuyo's 'glocal' workstyle strategy across Asia.'
Time of India
01-05-2025
- Business
- Time of India
Japan's Kokuyo acquires furniture maker HNI India
New Delhi: Japan-based office furniture and stationery brand, Kokuyo, has acquired HNI Corporation's India business in a strategic move to expand its presence in Asia's growing office furniture market . The acquisition is part of Kokuyo's CCC 2030 strategy , which aims for USD 3.5 billion in sales by 2030. With an existing footprint in India through Kokuyo Camlin , the acquisition of HNI India further strengthens the company's position in the region, leveraging HNI's strong local manufacturing capabilities and market reach to drive growth across India and South Asia. HNI India operates a 3,50,000 square feet manufacturing facility in Nagpur, servicing clients in sectors such as technology, banking, and consulting. As of March 2025, the brand reported revenue of upwards of Rs 200 crore. Before HNI India, Kokuyo in 2022 acquired HNI's Greater China office furniture business - Lamex. The acquisition is expected to complement Kokuyo's existing portfolio and extend its reach in India's rapidly evolving office space market. Karan Sachdev, MD, HNI India, commented, 'This acquisition is a strategic step to accelerate our growth in India and strengthen our position in Asia. Our local manufacturing expertise, combined with Kokuyo's global experience, will allow us to offer even more innovative solutions to meet the growing demand for flexible and hybrid workspaces.' Masahiro Fukui, Managing Officer, Kokuyo, added, 'India is key to our growth story in Asia. By welcoming HNI India into the KOKUYO Group, we are not only investing in infrastructure—we are investing in people, innovation, and the future of work in one of the world's most dynamic economies.' Despite the acquisition, Kokuyo has committed to maintaining HNI India's existing management structure and workforce. The company plans to rebrand HNI India under the Kokuyo name within the next few months.
