All is well at Knoll. The mod furnishings company powered through 2011, picking up a Cooper-Hewitt National Design Award along the way to a 14% year-over-year increase in net sales, to $922.2 million. With an eye to further expanding its high-margin, high-design “Specialty” business, Knoll recently announced a pair of acquisitions. The company has purchased Boston-based FilzFelt, the go-to source for German-milled wool design and craft felt. Founders Kelly Smith and Traci Roloff will continue in their executive roles at FilzFelt. Also joining the Knoll family is Richard Schultz Design. “Richard Schultz began his career as a designer with Knoll and co-founded his company with his son Peter in 1992,” noted Knoll CEO Andrew Cogan in a statement announcing the deal. “Together, they have built an international reputation for exploring new materials and forms for outdoor furniture.” Financial terms of the deals were not disclosed. In other Knoll news, the Cooper-Hewitt has added five KnollTextiles upholstery fabrics and two wallcoverings to its permanent collection. They include designs by Abbott Miller, Proenza Schouler, and Dorothy Cosonas, creative director of KnollTextiles. All of this Knoll talk making you crave Bertoia chairs and Risom stools? Good news: the Knoll Classics Sale is now on. Peruse discounted goods through Saturday at the NYC Knoll showroom (76 Ninth Avenue) or click over to Design Within Reach, where the sale runs through Sunday.
Publish date: February 29, 2012 https://stage.adweek.com/digital/knoll-acquires-filzfelt-richard-schultz-design/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT