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BrandSource Launches Independent Finance Company
July 11,
2011 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on July 12, 2011
Retail buying group BrandSource has launched BrandSource Financial, a wholesale finance company designed to provide members with additional opportunities for profitability and growth.
We're delighted to announce the launch of BrandSource Financial," said Bob Lawrence, CEO of BrandSource, Anaheim, Calif. "BrandSource Financial offers all the capabilities of any competitive wholesale finance company. However, BrandSource Financial is the only wholesale finance company operated for the benefit of its members; nobody else in the industry has this."
Lawrence credited several people for their hard work in supporting the creation of BrandSource Financial: Bill Baptiste and Mike Cox in BrandSource's headquarters, and Kevin Leier and Jacques LeCavalier of BrandSource Canada/MEGA. Lawrence also recognized Electrolux for its participation in the program and its support of Brandsource members and the independent channel.
In this time of tight margins, our members will have additional opportunity for profitability, Lawrence said. Since we own it, we all share in the proceeds.
Lawrence said that BrandSource Financial will launch with Electrolux immediately and additional members will be added every week until the company reaches full rollout.
BrandSource is a 100 percent member-owned merchandising group with nearly 4,500 independent dealer members in North America and close to 3,000 "branded" stores in the United States.