Contract furniture firm to ramp up UK licensing strategy

29th September 2009 | contract | The UK division of global furniture giant Krueger International says it will slash lead times and achieve 'considerable growth' by continuing to pursue licensing agreements with UK and European furniture manufacturers.

Bosses says the switch to manufacturing its lateral ranges in the UK during 2009 will help the company turnaround a 23% drop in sales during 2008. KI (UK) made a pre-tax profit of £85k from a £7.65m turnover compared to a £767k return from £9.97m sales in 2007.

Its UK sales fell sharpest, from £8.57m to ££6.25m, with European sales flat at £1.4m. Worldwide, Krueger International returned profits of $36.2m from a turnover of $665.7m.

The company is a major supplier of contract furniture including storage and seating to both the public and private sectors.