Daily News Archive
Brought to you by Home Furnishings Business
October 26,
2008 by in UnCategorized 
By Home Furnishings Business in Customer Service on October 2008
Design Management Company, a business management practice devoted to the architectural and interior design industries, has added an office in London, England. The company already has offices in New York and Los Angeles.
The new division in London, Art Management Company, is headed by AMC Director Christel Dahlen, who will focus on merging the worlds of art and design and will cater to the needs of interior designers, fine art galleries, museums, universities, foundations and collectors.
As part of DMC’s overseas expansion, DMC CEO Lloyd Princeton will deliver his “State of the Industry” presentation to the British Interior Design Association Professional Practice Seminar on Nov. 6 at London’s Design Center. Princeton’s presentation will focus the role of design professionals in the future and ways designers can structure their businesses to stay abreast of changes in the industry.
Founded in 1999, DMC provides full-service business management services to the architectural and interior design services, including advising clients on rates, contract negotiations, marketing, media relations, graphic design, human resources and strategies for improving business performance.
October 26,
2008 by in UnCategorized
By Home Furnishings Business in on October 2008
• Sales of existing homes increased nicely in September, surprising both stock markets and analysts. Sales of existing homes, on an annualized basis, were up 5.5 percent in September compared with August sales, to a seasonally adjusted 5.18 million.
Home re-sales also posted an increase compared with year-earlier figures, up 1.4 percent, the first year-over-year increase in some months.
Measured against August sales, regional home sales in September were up in three of the four regions, with just the Northeast posting a decline, of 1.2 percent. Home re-sales were up 4.4 percent in the Midwest, 2.2 percent in the South and 16.8 percent in the West.
Compared with year-earlier numbers, only the West region reported a sales increase, skyrocketing 34.4 percent. Sales were down 7.7 percent in the Northeast, 2.5 percent in the Midwest and 7.8 percent in the South.
• Partnered with increased sales of existing homes was a drop in the number of homes for sale. Compared with August, the inventory of homes available for sale in September dipped 1.6 percent and declined 2.4 percent compared with September 2007.
As of September, there was a 9.9 months supply of homes on the market, down 6.6 percent from August and off 3.9 percent from September of last year.
• Prices of existing homes for sale continued to decline over this time last year, down 8.8 percent nationwide. All four regions reported price declines, off 3.3 percent in the Northeast, 9.4 percent in the Midwest, 4.6 percent in the South and 14.4 percent in the West.
Sales of existing homes are tracked by the National Association of Realtors.
Weekly Review of Economic News (WREN) reports are summaries of recently-released economic statistical data that affect the home furnishings industry. WREN reports are compiled by HFB Research Editor Janice Chamberlain.
October 26,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2008
New York Attorney General Andrew Cuomo ordered Utica-based Affordable Furniture to change advertising he claimed was based on “fictitious” comparable pricing.
The store blamed the problems on an unnamed third-party sale promoter and said pricing has been changed.
The Attorney General’s office sent a cease-and-desist letter to the business, which has locations in Utica, Watertown, Rome and Syracuse. The letter stated that the store’s posted prices “had no relation to the usual store prices of the merchandise, nor were they tied to any other comparable price.”
The letter demanded that the store stop listing “fictitious usual pricing” as part of its “Remerchandising Relinquishment” sale, stating that the store may hve been violating state laws that prohibit false advertising. It also demanded that the store deliver all furniture that has not been delivered within the time frames in customer contracts.
According to published reports in Syracuse media outlets, the retailer issued a statement saying the sale was being run by a third party, which created all of the sale’s advertising and pricing information. The store also stated that all furniture sold during the sale was at a lower price than the store’s normal pricing. The statement said the store has corrected price tags to list the suggested retail price, the store’s customary price and the sale price.
October 26,
2008 by in UnCategorized
By Home Furnishings Business in Leather Upholstery on October 2008
Natuzzi, Italy’s largest furniture manufacturer and world leader in leather sofas, has named Dale Zimmerman executive vice president of sales for High Point-based Natuzzi Americas.
Zimmerman, who spent 12 years selling, buying and merchandising for his family’s business, Zimmerman’s Furniture, had been named regional vice president of sales for Natuzzi Americas’ North division in September 2007, and added the Western region September this year. In his new executive vice president post, he now is responsible for all four Natuzzi North American regions including Canada, Mexico, Latin America and the Caribbean.
Cary Benson, president of Natuzzi Americas said in an announcement that Zimmerman has quickly adopted the growth mission and focus defined by the Natuzzi Group.
“Dale possesses the sales leadership Natuzzi Americas must have to drive its position as the global leader in the world furniture marketplace,” Benson said. “He will help us deliver the brand segmentation strategy and continue to leverage Natuzzi’s brand leadership in the Americas.”
October 23,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2008
Natuzzi has launched a new three-year business plan with a goal of exceeding 1 billion euros in consolidated net sales at the end of 2011.
Dubbed 11-1-15, the plan calls for the company to focus on three key emerging markets where the the company has little business today--Brazil, Russia and India. At the same time, the company will support its strong growth in Asia and will build a factory in North America as part of strategy aimed at devising shorter routes to markets.
The brand strategy calls for the Natuzzi brand to address the high-end segment of the market while Italsofa targets younger, more dynamic consumers. Wednesday’s announcement said the company expects to self-finance the operational and investment projects defined in the plan.
The goal of 1 billion euros represents a significant increase in sales for the company. In the first six months of the year, the company’s sales totaled about one-third of that amount.
The plan was developed over the past 100 days since new CEO Aldo Uva was appointed, and it was approved by the company’s board last week after an in-depth discussion. “We think that in challenging market conditions, new opportunities may arise for market leaders such as us. We are looking to achieve break-even by 2009, growth acceleration in full 2010 and consolidation for new expansion in 2011,” Uva said. “I am pleased that the plan has the full approval of the board (who) I thank for the trust placed in the plan. Natuzzi management, at all levels, is aware of the important challenges and market opportunities we are faced with and committed to achieve the ambitious goals set by our business plan.
Natuzzi’s senior management will visit clients and investors in the United States and United Kingdom during November to discuss the new business plan.