Archive for June, 2010
June 19th, 2010 at 07:00am
Under Furniture News
Ethan Allen recently celebrated the grand opening of the Ethan Allen Design Center in Paducah, Kentucky. The ribbon cutting ceremony was attended by Ethan Allen Ceo, Chairman and President Farooq Kathwari, Ethan Allen owners Jim and Annette Moss and Ethan Allen retailers. The ceremony also included a tour of the brand new Ethan Allen Design Center.
“This Design Center is really the model for our continued expansion both in the United States and internationally,” said Mr. Kathwari. “It combines professional design service, custom products in both wood and upholstery, and our cutting-edge technology all into a smaller footprint. In addition we are now opening Design Centers to reflect the size of each market, from 30,000 square feet in Manhattan to 6,000 square feet in Paducah.”
The new center is one of the first retail location in the United States to incorporate the company’s on-site touch screen technology. This interactive technology, is combined with a smaller inventory and display requirements and reduced operation costs opens up new opportunities for expansion worldwide.
Ethan Allen also plans to open several more new Design Centers in Pennsylvania, Florida and China by the end of the year.
By MCC
June 18th, 2010 at 07:00am
Under Furniture News
World Market Center Las Vegas has announced that it will be adding a temporary outdoor furniture display area in Building B. The platform will be displaying the brightest and best brands of premium casual outdoor furnishing. The new addition will be revealed at the August Las Vegas Market that runs from the 2nd to the 6th.
The expanded destination located on the second floor will be hosting manufacturers such as Brown Jordan, Dedon, Harbour Outdoor, Lloyd Flanders and Ancient Mosaic Studios. Many of the attendees will be joining the Las Vegas Market for the first time.
The Alfresco Spaces temporary showcase is opening during a time that is opportune for buyers. According to the 2009 Universe Study conducted by Casual Living, over 79 percent of the consumers reported that they would like to design a home “resort”. Freedonia Group Inc., a research firm in Cleveland, Ohio reported that the demand for outdoor furniture in the u.S. is projected to increase approximately 3.9 percent a year until it reaches $7.2 billion by 2013.
“A greater appreciation for the outdoors and the desire to make better use of outdoor spaces has created a boom for this segment. The trend is to emphasize design in outdoor spaces as much as indoor spaces,” said Tim Branscome, vice president of international for World Market Center Las Vegas. “As industry leaders and forward-thinking marketers, World Market Center made sure this segment was significantly highlighted during its August show.”
FurnitureInfo.com has more information on this story.
By MCC
June 17th, 2010 at 11:10pm
Under Furniture News
Directors at the American Furniture Hall of Fame Foundation have established a 3 year plan aimed at preserving the history of the furniture industry. The four point plan was adopted after a strategic session that took place earlier this year.
Jeff Cook, president of the foundation said, “As we continue to build momentum and implement the first part of our mission - to research, collect and preserve our cultural, economic and artistic history - it’s critical that we as a board formally adopt a strategic plan to accomplish our vision,” he said.
The plan consists of four different initiatives:
Publishing Oral Histories
The Hall of Fame board has announced that it will start the publishing process of the 40 oral histories of some of the leaders in the industry that it has conducted. Each publication will be in a hardcover book that contains photographs and will be available for sale to both the public and the industry. These oral histories will also be made available online.
Soliciting Memorabilia
The foundation is actively soliciting memorabilia via scans of any company histories, advertising and marketing materials used and photographs. These materisals will be available to visitors to the website and researchers. The Hall of Fame Foundation will also offer guidelines and assistance to any company that wants to perserve their own history as long as the information is shared with the foundation.
Wall of Fame
The foundation also plans to commission a complete written history of the furniture industry which will include memorabilia and a timeline in both manufacturing and retail. Along with a public exhibit, the information will also be available online.
Website Updates
FurnitureDealer.net has donated its service to the Furniture Hall of Fame to update their website at www.furniturehalloffame.com.
“This is a big undertaking that will take years to accomplish, but we have to start somewhere and the board believes the time is now,” Cook said. “We are at a pivotal point. We must preserve our histories and the stories of our legends before they slip away from us forever.”
By MCC
June 15th, 2010 at 07:00am
Under Furniture News
After surviving a $123 million loss for the fiscal year in 2009, La-Z-Boy just announced that it had a solid $32.5 million profit for the just completed fiscal year. However, the company still felt the sting of consumers reluctance to purchase high ticket items and the bite of the recession.
For the fiscal year that ended on April 24, the sales had declined 4 percent down to $1.8 billion from the $1.23 billion just a year earlier. Closing some operations and utilizing moves to make leaner manufacturing processes, has helped the company move back into a higher profit margin.
La-Z-Boy has also trimmed some of its debt down to $48 million and has increased its available cash up to $108.4 million. “Although our [wood furniture] segment continues to be challenged in this macroeconomic environment, with consumers postponing larger-ticket purchases of dining room and bedroom groups, the structural changes implemented throughout the segment enabled us to operate at a near break-even point for both the quarter and year on lower volume,” said Kurt Darrow, La-Z-Boy president and chief executive officer.
By MCC
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