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Leggett Platt
Leggett Platt

Industry & manufacturing / Diversified Manufacturing and Bedding

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview

Leggett Platt is a diversified manufacturer of engineered components and products for a variety of industries including residential furniture, commercial furnishings, bedding, automotive, and aerospace. The company was founded in 1883 by J.P. Leggett and C.B. Platt in Carthage, Missouri.
Over the past century, Leggett Platt has grown from a small spring manufacturer to a Fortune 500 company with operations in 18 countries and over 20,000 employees. The company's products are used in nearly every home, office, and vehicle in some form or another.
Leggett Platt prides itself on its commitment to innovation, sustainability, and customer service. The company operates a research and development center dedicated to creating new and innovative products, as well as a sustainability program focused on reducing its environmental impact.
Additionally, Leggett Platt has a strong focus on community involvement and has been recognized for its philanthropic efforts, including supporting education, healthcare, and social services in the communities where it operates.
Today, Leggett Platt continues to be a leader in the manufacturing industry, constantly adapting to changing market trends and technological advancements. Its products and services are trusted by customers around the world, making it a key player in the global economy.

What is special about the company?

Leggett & Platt is a diversified manufacturer that designs and produces a broad range of products for a variety of industries. The company's customer base includes residential furniture and bedding manufacturers, commercial and institutional furniture manufacturers, household appliance manufacturers and others. Leggett & Platt's product lines include residential and commercial furnishings, home furnishings components, flooring underlayment, adjustable beds, high-carbon drawn steel wire, and bedding industry machinery.
One of the key aspects that sets Leggett & Platt apart is its innovative and collaborative approach to product development. The company invests heavily in research and development, continually working to improve and enhance its products to meet changing market demands. Additionally, Leggett & Platt has a culture of open communication and collaboration that fosters a creative and entrepreneurial environment, allowing for the quick implementation of new ideas and technologies.
Another unique aspect of Leggett & Platt is its commitment to sustainability and environmental responsibility. The company actively works to reduce its environmental impact by implementing sustainable practices in its operations, promoting recycling and waste reduction, and designing products that are environmentally friendly.
Lastly, Leggett & Platt has a strong focus on customer satisfaction and building long-term relationships with its clients. The company prides itself on its high-quality products, competitive pricing, and exceptional customer service. This commitment to excellence has helped Leggett & Platt maintain a strong reputation in the market and continue to grow and expand its business.

What the company's business model?

The Leggett Platt company is a diversified manufacturer that produces a range of products for various industries. Its core business model is focused on providing innovative components and products that improve the comfort, support, and durability of furniture, bedding, and other household products.
The company's business model is built on three main strategies:
1. Diversification: Leggett Platt has a wide range of products and services that cater to multiple industries, including residential furniture, commercial furniture, bedding, and other specialized products. This diversification allows the company to spread risks across different markets and capitalize on various opportunities.
2. Innovation: With a focus on research and development, the company invests in developing new and innovative products to meet the evolving needs of its customers. It also collaborates with customers to develop customized solutions for their specific requirements.
3. Operational Excellence: Leggett Platt emphasizes the efficient use of resources and streamlined processes to optimize its operations. This approach helps the company to minimize costs and maximize profits.
Overall, the company's business model is focused on delivering high-quality products and services that cater to the various needs of its customers and industries, while also creating value for its shareholders.

Interesting facts about the company

1. The Leggett Platt company was founded in 1883 by J.P. Leggett and C.B. Platt in Carthage, Missouri. Its original name was The Leggett & Platt Spring Bed Company.
2. The company began by producing bedsprings and expanded to manufacturing other furniture and bedding components, such as ornamental beds, bed frames, and innersprings.
3. In the early 1900s, Leggett Platt became one of the first companies to use the assembly-line process in furniture production, increasing efficiency and output.
4. Leggett Platt was one of the first companies to introduce a no-flip mattress, with one side designed to be used as the top and bottom.
5. In 1937, Leggett Platt became a publicly traded company on the New York Stock Exchange.
6. The company operates more than 135 facilities in 18 countries, with over 22,000 employees worldwide.
7. Leggett Platt’s sales in 2018 were over $4 billion.
8. In addition to producing furniture components, Leggett Platt also manufactures automotive seat support and lumbar systems, specialized machinery, and commercial fixtures and machinery.
9. The company has a Sustainability program focused on reducing waste, energy use, and emissions, as well as promoting recycling and conservation efforts.
10. Leggett Platt has been named one of America’s Most Admired Companies by Fortune Magazine for six consecutive years, from 2012-2018.

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