By Nicholas Tamarin
On Wednesday, February 26, at 8:30am in the North Hall of the Las Vegas Convention Center, the NKBA provided a fitting hallmark to KBIS 2025 with its annual State of the Association and State of the Industry addresses. NKBA Global President & CEO Bill Darcy began his 15th SOA by highlighting the association’s achievements, financial strength, and optimistic outlook for the kitchen and bath industry.
In Conversation With an Icon
Following Darcy’s speech, the SOI discussion between Cindy Allen, Editor in Chief of Interior Design Magazine, and legendary designer Lauren Rottet, Founding Principal & President of Rottet Studio, explored the transformative power of design and how creativity and innovation are driving the future of residential interiors.
Designing for Tomorrow: Innovation, Resilience, and Growth
A subsequent panel, also moderated by Allen, starred designers Alison Damonte, Goil Amornvivat, Bahar Zaeem, and Shima Radfar. The group–representing the East and West Coasts along with Canada–shared stories of resilience as well as insights into how manufacturers can design products that fulfill homeowner requests and forward-thinking strategies for a successful 2025 through the lens of six trends shaping interior design and renovation.
Strong Foundation and Poised for Growth in 2025
Darcy started by acknowledging the challenges of the past year, including economic and political volatility that led to consumer uncertainty and stagnant demand. However, he emphasized the industry’s resilience and the NKBA’s strong financial position. “Thanks to all of you, our members and partners, we are in the strongest financial position in our 61-year history,” Darcy stated.
The NKBA reported impressive financial growth, with annual revenue increasing by over 125% since 2012 to nearly $19 million in 2024. The financial reserve balance also saw a significant increase, growing by nearly 240% to over $40 million. This financial health has allowed the NKBA to reinvest heavily in member programs, with 72% of total expenditures allocated to these initiatives in 2024.
Global Expansion and Industry Insights
A key focus of the address was the NKBA’s expanding global reach. Darcy highlighted the presence of international pavilions from Germany, Brazil, Great Britain, and new Italian pavilions at KBIS 2025. The association has also been actively participating in major international conferences and events, fostering collaborations and creating new opportunities for its members.
Looking Ahead with Optimism
Despite ongoing challenges such as skilled labor shortages and economic uncertainties, Darcy expressed strong optimism for the future. He cited key factors such as lower borrowing rates, record-high home equity levels, pent-up demand for renovations, and the transfer of wealth from baby boomers to millennials as indicators of potential growth.
The NKBA’s Kitchen and Bath Market Index Report for Q4 2024 showed increased demand and improved consumer confidence. The association’s 2025 Kitchen & Bath Market Outlook Report projects residential kitchen and bath spending to grow by 0.8% to $235 billion.
New Initiatives and Continued Growth
Darcy announced the launch of the Kitchen & Bath Pro Hub, a new industry research community designed to gather real-time insights and data. The NKBA also plans to expand its programming for luxury and higher-end design and continue its international engagement efforts.
In conclusion, Darcy thanked the NKBA community for their support and encouraged everyone to “think big” and seize the opportunities on the horizon. “The future of the home is so exciting–this sector WILL evolve and grow in unprecedented ways,” he stated. “Let’s drive that progress and be ready for growth.”
