Daily News Archive
Brought to you by Home Furnishings Business
June 17,
2008 by in UnCategorized 
By Home Furnishings Business in on June 2008
The Vera Company, Atlanta, a contemporary lifestyle brand based on the art of Vera Neumann, has announced the creation of its new Home Division. Kathleen Schaag Haffamier has been named vice president of the Home Division.
As an artist, Vera Neumann was well-known for her bold use of color and uplifting designs. Today, showcased on virtually any medium and functioning in any number of everyday purposes, Vera designs may be seen in fashion apparel and accessories, tabletop accents, home linens and paper goods. In 2005, fashion industry veteran Susan Seid bought all the design assets including original artwork, trademarks and copyrights to over 7,000 designs.
With more than 30 years of experience in the home décor industry, Haffamier will assist in revitalizing the Vera brand in the home arena and will develop licensing relationships with manufacturers and retailers. Her background includes design, manufacturing and retailing. As an executive with Home Depot, she played a significant role in developing Home Depot EXPO. During the last five years, she consulted with both domestic and international retailers and manufacturers in the home décor arena.
“Kathy brings a wealth of knowledge and experience of the industry, as well as a passion for Vera’s designs and the company’s future,” said Seid, president of Vera Company. “Her background in the home décor industry brings both seasoned professional strength and a valuable perspective on the consumer for our home licensing and product development efforts.”
June 17,
2008 by in UnCategorized
By Home Furnishings Business in Case Goods on June 2008
Groovystuff, a vendor that has based its business on sustainable furniture, will commemorate its 10th anniversary with a celebration at the Las Vegas Market, July 28–August 1. The festivities will take place in Groovystuff’s new permanent showroom, space A642 in Building A at the World Market Center, Monday, July 28, 3:30–5 p.m. on Monday, July 28.
“We’re really excited about achieving this important milestone,” said Chris Bruning, Groovystuff co-founder, designer and chief marketing officer. “Groovystuff has a dedicated customer base, and we want to thank these retailers—many of whom have been with us since we started—for their support over the last 10 years.”
In an industry just beginning to understand the impact and demand for sustainable home furnishings, manufacturer Groovystuff is a veteran. Committed to sustainable manufacturing and environmental accountability, Groovystuff produces distinctive pieces crafted from reclaimed teakwood and antique farm implements. Its vision is to assist its retail customers in growing their businesses sustainably.
Groovystuff offers six unique residential collections: Prairie, Iron Horse, Adirondack, Back to the Roots, Kodiak and Rocky Mountain. Each group features pieces designed with the foundation of style, value, longevity, and preservation of natural resources.
At Las Vegas Market, Groovystuff will launch the new Chris Bruning Signature Collection, with each piece personally designed by Chris Bruning. From wagon wheel Trail Boss Bars to Adirondack Pool Chairs, Chris’ vision renders each piece remarkable.
As a member of the Sustainable Furniture Council, the American Home Furnishings Alliance and the International Casual Furnishings Association, Groovystuff is dedicated to sourcing the finest in sustainable home furnishings for each of the specialty markets it serves.
June 17,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2008
Green Front Furniture, Farmville, Va., has launched a new Web site, www.greenfront.com, which was created by Ulanguzi Creative Strategies of Raleigh, N.C. Green Front also has two satellite stores in Manassas, Va., and Raleigh, N.C.
Green Front has 15 warehouses with more than 700,000 square feet of space for furniture, and a large selection of Indian, Persian and Oriental rugs. The retailer pulls from a country-wide client base, many of whom visit one of the three locations after finding the company via the Internet.
Green Front’s Web site did not match the quality and level of service that the company delivers in-store, and Ulanguzi delivered a site that makes the visitor feel as if they are in the midst of the enormous selection of quality furniture.
“We can’t say enough about Ulanguzi and the Web site they’ve delivered to us,” said Richard Cralle Jr. of Green Front Furniture. “Our focus since the 1960s has been quality customer service and a superior product. Now, our Web site reflects our in-store philosophy.”
June 16,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2008
Pier 1 Imports Inc., Fort Worth, Texas, announced yesterday it would take its proposal to acquire Cost Plus directly to Cost Plus shareholders after management’s rejection of its offer.
“We are disappointed in the Cost Plus Board’s recommendation, which fails to recognize the significant value inherent in a combination of our two companies,” said Alex Smith, president and CEO of Pier 1 Imports, in a response to a letter from Cost Plus management that turned down the proposal. “Our strategic stock-for-stock proposal is extremely compelling, and we believe that it would create significant value for the stakeholders of both companies. We are surprised that the Cost Plus Board determined that our proposal was not in the best interests of the Cost Plus shareholders—given that the Cost Plus Board and management have made no effort to discuss with us the potential and benefits of a mutually acceptable transaction. In addition, as originally outlined, our proposal is subject to only limited conditions that are customary for transactions of this type, which are confirmatory due diligence, the negotiation of a definitive acquisition agreement, and the receipt of all necessary shareholder and regulatory approvals. Nevertheless, we intend to work directly with the shareholders of Cost Plus to make this transaction a reality.”
On June 9, Pier 1 had announced its proposal to acquire all the outstanding shares of Cost Plus common stock in a stock-for-stock transaction. Under the terms of the proposal, Pier 1 Imports would issue 0.6 shares of its common stock for each share of Cost Plus common stock. Based on the closing prices of Pier 1 Imports and Cost Plus on June 6, the proposed exchange ratio implied a value of $4 for each share of Cost Plus common stock. The proposal represented a premium of approximately 31 percent over the Cost Plus closing price on June 6.
On a letter dated Monday, management of Cost Plus, Oakland, Calif., rejected the Pier 1 offer.
JPMorgan is acting as financial advisor to Pier 1 Imports, and Gibson, Dunn & Crutcher LLP and Bracewell & Giuliani LLP are acting as legal counsel.
June 16,
2008 by in UnCategorized
By Home Furnishings Business in Delivery on June 2008
Cory Home Delivery Service, Secaucus, N.J., has formed a strategic three-way partnership with Demountable Concepts Inc., Glassboro, N.J., and Penske Truck Leasing, Reading, Pa., designed to streamline deliveries and storage for furniture retailers.
The essentials of the “Warehouse on Wheels” delivery system are two pieces of equipment: a convertible base frame equipped with legs that fold underneath for truck body transport and unfold during free-standing storage, and a chassis-lift system installed onto preexisting or new 26-foot “swap” body trucks.
“The Internet and manufacturing abroad are rendering traditional business models obsolete,” said Joseph Cory Jr., vice president of marketing for Cory Home Delivery Service. “Products that cannot be easily returned must arrive from central locations damage-free, and customers are no longer willing to wait six weeks for delivery. Demountable service is a fascinating concept utilizing interchangeable truck body systems that empowers retailers to expand delivery area, increase profitability, decrease costs and improve efficiency.”
Cory said the demountable concepts seamlessly combines premier delivery service by Cory with engineered fleet equipment by Demountable Concepts and trucks provided and maintained by Penske Truck Leasing without the retailer spending unnecessary capital to open remote cross-docks or purchase new tractors or delivery trucks.
“For retailers today, operational challenges can be daunting. For those with locations hundreds of miles apart, it can be even more so. The demountable system, which expands the radius for efficient regional delivery from 100 to 300 miles, is a boon for stores in cities nationwide serving outlying areas,” Cory said.
He cited the new high-end Younkers Furniture Gallery in Green Bay, Wis., opened recently by the Bon-Ton Stores and serviced by a distribution center 225 miles away in Naperville, Ill., as a case in point.
A cross-dock operation was out of the question because of the extra handling and the potential for damage. Every piece must be removed from packaging, inspected and “deluxed” prior to shipping. Moreover, capitalizing on the Illinois warehouse and inventory to service the outlying store was a must.
For Bon-Ton, the process begins with two bodies that are loaded at Naperville with furniture and transported overnight on a semi-trailer to Green Bay. There they are demounted or taken off the semi and left free-standing on their own support system in the local Penske Truck Leasing yard, and the semi returns to Naperville with empty bodies from the previous day—to come back fully loaded again the next evening. First thing next morning, local driver teams quickly mount the free-standing bodies to 26-foot straight-body trucks and proceed with deliveries.
With the ability to load two truck bodies standing one in front of the other at once to increase warehouse efficiency and dock door availability, the demountable system eliminates double product handling and the need to use hard-to-come-by Class A CDL drivers. Local drivers spend their time delivering product instead of loading trucks and operate in areas they are familiar with.