1 outdoor exec eyes strong market, supply chain diversity

HIGH POINT — With a new administration incoming and the possibility of new supply pressures in the new year, there is a considerable degree of uncertainty on the horizon.

But one exec at a casual furniture manufacturer thinks that there also are glimmers of hope and good reasons for optimism.

Todd Wingrove, the vice president of sales at Agio USA who was also recently tapped to lead its newly formed hospitality division, told Furniture Today that his company is looking forward to a more business-friendly environment in the new year, hopefully bolstered by bullish markets.

“Although retail has been less than stellar this past year, Agio is really excited about 2025 for several reasons: first, financial markets remain at all-time high levels, and secondly, we’re well-positioned with national retailers as well as specialty retailers,” he said.

He added that branching out into the hospitality segment has been another key part of his company’s strategy that they expect to continue paying off.

“Earlier in 2024, we launched a new Agio Hospitality brand, which has gained considerable momentum and allowed us to tap into an entirely new market segment.”

On the likelihood of additional tariffs coming down the pipeline, he said that Agio is watching developments closely, while taking steps to expand and diversify its supply chain.

“Manufacturers across the industry are closely monitoring the potential for additional tariffs on Chinese-made goods in 2025,” Wingrove stated.

“Agio has been proactively expanding its production resources and will begin manufacturing in both Indonesia and Cambodia starting next year,” he continued.

“While these new capabilities will not initially match the production scale or diversity currently achieved in China, they represent a strategic step toward establishing alternative supply sources for our customers as our industry navigates these possible changes. Because of competitive advantages like this, Agio is poised to move forward in 2025 on both the retail and hospitality sides.”

Another reason for a positive outlook heading into the new year, according to Wingrove, is the likelihood of a lower-interest rate environment and generally favorable market conditions that could boost consumer confidence and increase the availability of capital.

“Talk of recession has for the most part gone away, and the new administration will work with the Federal Reserve to help reduce interest rates, which should reflect well on consumer confidence and ultimately spending,” he said. “The anticipation is that there will be a gradual easing of inflation, and if mother nature cooperates this spring, that tends to make us a lot more successful.”

Wingrove also said that Agio places a great deal of importance in tracking the subjective trends in consumer preferences, placing it in a good position if consumer confidence and spending eventually increase.

“We continue to work very closely with the world’s leading trend consultancy, Sphere Trending, so we’re confident Agio is prepared for where the market is headed and how to position ourselves for growth,” he concluded.

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