16 Most Expensive Furniture Brands in the World
In this article we will discuss the 16 most expensive furniture brands in the world. If you want to skip our detailed analysis of the global furniture market, you can go directly to see 5 Most Expensive Furniture Brands in the World.
The Growing Furniture Market
The global furniture market has managed to grow exponentially over the years owing to the rising interest of the masses in high end brands and curating pieces that match their aesthetic. Such trends in the furniture market are largely driven by social media and rising disposable income, driving people to invest their money into such luxuries.
According to a report by Research and Markets, the furniture market was valued at around $652.4 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 5.57% during 2023-2028, pushing the market to reach around $855.49 billion by the end of the forecasted period. The global expansion of the e-commerce market has made it easier than ever for the masses to gain access to furniture products and services. High end furniture companies provide services that allow designing furniture online based on customers' personal preferences.
Social media is the backbone of any successful e-commerce market as social media platforms stimulate the most response through various marketing strategies. Furniture companies have started leaning towards innovative and eco-friendly designs to gain the attention of their target audience. The combination of social media marketing and high quality eco-friendly furniture is expected to drive sales and positively influence the global furniture market.
What are Some of the Top Furniture Companies Up To?
IKEA is a Swedish multinational ready-to-assemble furniture chain that also houses other home accessories such as textiles, lighting and home decor. It is one of the world's largest furniture retailers and has stores all over the globe. On September 27, Reuters reported that IKEA added another feather to its cap by opening a store in Colombia. The IKEA Manager in Colombia, Hasbleidy Castaneda said in an interview, the brand intends to expand to Chile, Colombia and Peru with nine stores over the next 10 years. Two of these will be constructed within the next year in Colombia.
Most companies try to give back to their community, especially to the ones who work day and night for their communities. The Lovesac Company (NASDAQ:LOVE) is one such furniture company. On September 28, The Lovesac Company (NASDAQ:LOVE) announced their New Heroes Program to celebrate active or retired U.S. Service Members. The company invited its customers to nominate their personal heroes and the winner will receive a free Lovesac Footsac with a personalized note. Moreover, discounts would be given on merchandise purchased by these heroes and other service providers such as health workers, teachers or veterans from October 12 to November 12.
RH (NYSE:RH) is a high-end US-based furniture retailer that sells furniture merchandise online and at its retail stores. On September 7, RH (NYSE:RH) reported strong earnings for the fiscal second quarter of 2023, reflecting strong demand for furniture. The company reported earnings per share (EPS) of $3.93, surpassing EPS estimates by $1.33. The company reported a revenue of $800.48 million and outperformed revenue estimates by $14.48 million.
Artificial intelligence is slowly but surely taking over the content creation of companies. Wayfair Inc. (NYSE:W) is a prominent furniture company jumping on the AI bandwagon. On July 25, Wayfair Inc. (NYSE:W) announced its latest Al model, Decorify. This generative Al system would allow customers to reimagine their existing living space into a new style or design that they wish. After they select a new theme, they can directly order the furniture products that they need from Wayfair Inc.’s (NYSE:W) website.
16 Most Expensive Furniture Brands in the World
Our Methodology
For this article, we compiled a list of the 16 most expensive furniture brands in the world using a consensus approach. We analyzed rankings of most expensive furniture brands across 4 different websites: Harper's Bazaar, Cosmopolitan, Esquire and House Beautiful. We counted the number of times each furniture brand is listed in these sources. We also calculated the average ranking of each of these furniture brands by adding up their rankings in each of the sources and then dividing that figure by the number of times each furniture brand's name came up. We then ranked the 16 most expensive furniture brands based on how many times their name came up in the sources as well as their average rankings. 16 most expensive furniture brands are listed below in ascending order.
Please note, the number of mentions is our primary metric and the average ranking is our secondary metric. A lower average ranking is better since it means the furniture brand was ranked at the top among our sources. For furniture brands with the same number of appearances across our sources, we used the average ranking as the tie-breaker.
16 Most Expensive Furniture Brands in the World
16. Pottery Barn
Number of mentions: 2
Average ranking: 16.5
First one up on our list of 16 most expensive furniture brands in the world is Pottery Barn. Pottery Barn is a US based home furnishing store chain and ecommerce company. It is a subsidiary of Williams-Sonoma, which itself is an independent furniture retailer. Pottery Barn has two sub-branches that are specialty stores, Pottery Barn Kids and Pottery Barn Teens. Its diversified product mix and strong brand personality has created a loyal customer base who are willing to pay premium prices for its products.
Some of the top companies leading the global furniture market include The Lovesac Company (NASDAQ:LOVE), RH (NYSE:RH), and Wayfair Inc. (NYSE:W).
15. 54 Kibo
Number of mentions: 2
Average ranking: 15.5
54 Kibo is a US based furniture retailer, primarily inspired by contemporary African design. Its aim is to make exclusively luxury African design decor easily accessible to consumers. The 54 in its brand name honors the 54 African countries and Kibo is the highest summit in Africa. By providing unique designs with exceptional quality, 54 Kibo has certainly made its place in some of the most luxurious furniture brands in the world.
14. Williams Sonoma
Number of mentions: 2
Average ranking: 12
Williams-Sonoma, Inc. (NYSE:WSM) is a US based Fortune 500 consumer retail company and one of the most luxurious furniture brands in the world. It specializes in manufacturing and selling kitchenware and home furnishings. Williams-Sonoma, Inc.'s (NYSE:WSM) distribution channel is across 60 countries with over 600 stores. Williams Sonoma is a popular choice for gift registries for weddings in the US, as its target customer is affluent and brand conscious. As of October 16, Williams-Sonoma, Inc. (NYSE:WSM) is worth $10.41 billion on the open market.
13. Serena and Lily
Number of mentions: 2
Average ranking: 11
Serena and Lily is a US based furniture retailer. It sells furniture pieces made in the US as well as specially curated imported pieces. The company manufactures furniture made from both solid wood and engineered wood. It uses a pristine variety of fabrics as well. The company is privately owned by Serena Dugan, a textile designer and independent artist. Serena and Lily is one of the most luxurious furniture brands in the world.
12. Burrow
Number of mentions: 2
Average ranking: 10.5
Burrow, a US based company has revolutionized the world of furniture and has made its place in one of the most expensive furniture brands in the world. With its out of the box thinking it came up with designs for sofas that could be reverse engineered into smaller or bigger pieces. The company's design portfolio is based on American Mid-Century Modernism and contemporary Scandinavian style. Burrows' aim is to use sustainable furniture that is practical and can be altered with time.
11. The Citizenry
Number of mentions: 2
Average ranking: 10.5
The Citizenry is a privately held, US based retail company. Its aim is to deliver ethically crafted products, directly from the manufacturers to the consumers. The company has a diverse global community, across 21 countries, of artisans who manufacture handcrafted textiles and furniture. The company is an equal opportunity employer that prefers a diverse team with different ethnicities and cultures, in order to bring a large variety of craftsmanship under one roof.
10. CB2
Number of mentions: 2
Average ranking: 9.5
CB2 is a sub-brand of Crate and Barrel, a US based furniture retailer. CB2 was created to manufacture furnishings more in tune with young adults, with modern designs and affordable rates. It offers a large variety of furniture that can be used at home or office, besides furniture it also offers other home accessories. It is one of the most expensive furniture brands with its products being shipped in the US, Canada and elsewhere around the globe. CB2 ranks 10th on our list of the most expensive furniture brands in the world.
9. Eternity Modern
Number of mentions: 2
Average ranking: 7.5
Eternity Modern is a Canada based furniture brand, however it has expanded with warehouses and distribution in several other countries. Its furniture is based on mid-century designs that resonate with modern elegance. Eternity Modern has multiple stores in Canada and the US and its products can also be ordered online at competitive rates.
8. RH
Number of mentions: 2
Average ranking: 5.5
RH (NYSE:RH) is a US based home furnishing company and one of the most expensive furniture brands in the world. Its products are sold in retail stores, through catalogs, and online. RH (NYSE:RH) focuses on distinguishing itself from its competitors through high-end products that come at high prices. These products are presented at furniture gallery offerings to create an exclusive brand image. RH's (NYSE:RH) stores have now gone global and expanded from the US to Europe and Canada.
7. Maiden Home
Number of mentions: 2
Average ranking: 5
Maiden Home is based out in North Carolina, US. Its furniture products are handcrafted with designs influenced from heritage techniques of North Carolina artisans. The company's aim is to create modern yet timeless pieces that are unquestionably high quality and comfortable. Maiden Home offers direct-to-consumer service and custom-made furniture at low prices, making the brand a popular choice among young consumers.
6. Lulu and Georgia
Number of mentions: 2
Average ranking: 3
Lulu and Georgia is based in Los Angeles, US. Run by its CEO Sara Sugarmen, it provides luxury home furnishings with a large variety of color palettes and designs. Customers are provided with high quality wood, metals and upholstery for their furniture. The company's aim is to create statement pieces that cater to the specific aesthetic of its clients. Launched in 2012, Lulu and Georgia has certainly made its place in the list of most luxurious furniture brands in the world.
Some of hedge funds' top picks from the furniture sector include The Lovesac Company (NASDAQ:LOVE), RH (NYSE:RH), and Wayfair Inc. (NYSE:W).
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Disclosure: None. 16 Most Expensive Furniture Brands in the World is originally published on Insider Monkey.
