March 17,
2013 by in UnCategorized 
By Home Furnishings Business in Acquisition on March 18, 2013
Bedding supplier Tempur-Pedic International's (NYSE: TPX) acquisition of Sealy Corp. (NYSE: ZZ) is complete, and the company plans to change its corporate name to Tempur Sealy International.
"We are pleased to announce the completion of our acquisition of Sealy and are very excited about our future as Tempur Sealy International," said Mark Sarvary, CEO. "We remain confident that our shared know-how and expected efficiencies will result in tremendous value. Our focus now is on ensuring that our integration process remains on track and is as seamless as possible for all of our employees, customers and other stakeholders."
The combination of Tempur-Pedic and Sealy creates the world's largest bedding provider. Together, Tempur-Pedic and Sealy have a strong brand portfolio with with highly recognized brands in the industry, including Tempur, Tempur-Pedic, Sealy, Sealy Posturepedic, Optimum and Stearns & Foster.
The company will seek stockholder approval for the proposed name change at its annual meeting of stockholders in May. The company's portfolio of brands and consumer-facing marketing will not be affected by the name change and will continue to be represented in the market as they are today. The company's global corporate headquarters will be in Lexington, Ky., and will continue to trade on the NYSE under the symbol TPX.
Under the deal, Tempur-Pedic acquired all of the outstanding common stock of Sealy for $2.20 per share and assumed or will repay all of Sealy's outstanding convertible and non-convertible debt, for a total transaction value of about $1.3 billion. As previously disclosed, the company funded the transaction and the refinancing of its existing credit facility with $1.770 billion senior secured facilities and $375 million of senior notes.
The company will provide updated guidance for the combined company when it releases first quarter 2013 earnings in May.
March 17,
2013 by in UnCategorized
By Home Furnishings Business in on March 18, 2013
Ashley Alford has been named design manager for rug and decorative accessories vendor Momeni, a new position for the company.
In her new role, Alford is responsible for developing and coordinating all creative aspects relating to the Momeni brand. This includes product design, marketing, promotion and sourcing duties for the company. Alford reports to Reza Momeni, president, and Katy Repetto, head designer.
Alford joined Momeni in 2012 and has participated in several key marketing campaigns and product introductions since joining the company.
"We are fortunate to have a young, talented member like Ashley Alford on our team," Momeni said. "She has the vision, enthusiasm and ability to keep Momeni on the forefront of design, innovation and technology for many years."
March 17,
2013 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on March 18, 2013
Furniture retailer Furnitureland South has unveiled its online store allowing consumers across the world to buy its wares online.
"Traditionally a brick-and-mortar home furnishings retailer, Furnitureland South understands that the shopping habits of those in the market for furniture are changing," said Pat Wakins, director of marketing. "More and more people are researching products and pricing, and shopping online than ever before."
With more than 500 manufacturing partners and a low price guarantee, Furnitureland South is bringing its buying power and selection to those beyond store reach. The ability to shop bedrooms, living rooms, dining rooms, home accents and more is now easier than ever.
"The ultimate goal is to become the number one resource for all things related to home décor and design," said Susie Nester, e-commerce manager. "This is just the beginning. Our online product offering is evolving and growing every day with the addition of new manufacturers, categories and styles."
This e-commerce endeavor offers more than just a click-to-cart purchase experience. Customers are encouraged to contact a design consultant for full-service design expertise; from space planning to color coordination and fabric selection, expert consultants work to create a turnkey service for clients free of charge. In addition, furnishings are delivered with care by Furnitureland South's in-house, white glove delivery team.
"It was important to consider our location in the 'Furniture Capital of the World' and the reputation we've built as the resource for quality furniture, selection and value," said Jeff Harris, executive vice president. "The online store overcomes geographical limitations; our customers now have access to the same full-circle buying experience, incredible savings, design services and white-glove delivery-all from the comfort of home."
March 14,
2013 by in UnCategorized
By Home Furnishings Business in Markets on March 15, 2013
The Antique & Design Center is staging a full slate of lectures and world-class speakers for the upcoming High Point Market.
Sponsored by V&M, an online source for unique vintage furniture, antiques, art and content, all lectures take place in the Antique & Design Center Lecture Room on the ground level of Market Square. There is no charge to attend and continuing education credits are attached to two of the seminars.
The series represents a learning experience in a unique setting unlike any other at the High Point Market, according to Karen Luisana, managing director of the Antique & Design Center. Seminars kick off on opening day of Market, Saturday, April 20 with David Lindquist of Whitehall Antiques. A full-time antiques dealer, appraiser and authenticator since 1974, and a senior accredited member of ASA for more than 25 years, Lindquist works as a consultant to appraisers throughout America.
Lindquist will present "Simple Rules for Authenticating Antiques" at 10-11: 30 a.m.
"Come with a great sense of style and educated eye for proportion and David will show you how those attributes are the keys to the authentication of antique furniture," Luisana said. "This hands-on working session teaches the simple rules you need to know to advise clients with confidence, as well as a rejuvenated sense of fine style. As he says, 'Every major designer is returning to classic antique furniture in their work, judiciously mixed with soft modern, as evidenced in the shelter magazines and online buzz. Make sure you ride the crest of the wave!'"
All attendees will receive a free copy of Lindquist's book on discerning the differences between period furniture and look-a-likes of the 19th and 20th centuries. Q&A follows and CEU credit will be awarded.
Next up is Sheilah MacSporran and "How to Create 2D & 3D Room Designs On Olioboard That Your Clients Will Love," at 12:15-1:45 p.m. MacSporran is the chief executive and co-founder of Olioboard, an online interior design mood board creator and social shopping platform.
Olioboard allows members to create 2D and 3D room designs using real products that they can save, shop and share. Her goal is to change the way people shop online by allowing them to first try it, before they buy it. In this Olioboard presentation, MacSporran will show designers how to create realistic 3D room designs by breaking the tools down into easy-to-understand tutorials. The presentation will also cover some of the latest tools and additions to Olioboard, as well as a broad overview on how designers can use Olioboard to make a profit and streamline their work process.
Following the talk, Olioboard is sponsoring a complimentary lunch for Seminar attendees.
Bill Indursky, co-founder of V&M, returns Saturday to deliver his report: "2013 Trends in the Antique and Home Furnishings Industries." From 2-3:30 p.m., he'll provide an in-depth and up-to-the minute analysis of where the antique and home décor industries are headed. An award-winning designer, architect, realist painter and author, Indursky returns for the fifth time to offer his design trend forecast, and to explain the larger context that continues to shape his forecast.
Kelli Ellis and Lori Dennis wrap up opening day from 3:30-5 p.m. with a "Taste of Design Camp." The HGTV interior designers and creators of Design Camp have spent decades educating designers and design enthusiasts. For this presentation, Ellis and Dennis take the stage with industry leaders and a panel of "Camp Counselors" that includes Leslie Newsom Rascoe, decoration and design editor, Veranda Magazine; Helene Hollub, principal of Hollub Homes, Inc., a building and design company in South Florida; Katy Garrett, interior design business coach, systems educator, and award-winning custom home furnishings consultant; Ronda Carman, the force behind the All the Best blog, and Lisa Mende, founder and principal of Lisa Mende Design.
Following the Design Camp panel discussion, there will be a book signing with Dennis, Newsome Rascoe and Carman.
The fun will continue with a special social event and cocktail party, "Design Camp in the Courtyard," outside under the stars in the Market Square Courtyard 7-9 p.m.
On Sunday, the stars come out again, and this time, all that's missing is the red carpet. At 10 a.m., Hollywood comes to Market direct from the Academy Awards, as Leslie McDonald, Oscar-winning art director and antique dealer takes the stage for her presentation on designing for film with unique insights into the production process, "So You Want to Be in Pictures." Art director for the blockbuster hit "Lincoln," McDonald has nearly three decades of experience as an art director and production designer for the motion picture industry, with clients including Disney, Paramount, 20th Century Fox, Universal, Sony, Warner Bros and Columbia Pictures. With work on hits like "Forrest Gump," "Field of Dreams," "Minority Report," and "Bugsy" (awarded an Academy Award for best art direction), McDonald offers an insider's view of the film industry.
"This is a wonderful opportunity to obtain pieces from her movies, along with the mid-century art and furniture in which Leslie specializes," Luisana said.
Leslie Carothers, follows at 2-3:30 p.m., with "Slow It Down Social."
"Anyone who has ever felt overwhelmed by the amount of time social media takes to do well should make plans to join Leslie, CEO of The Kaleidoscope Partnership, a global social media agency, for her time-saving top tips on which social media platforms you should be using, and how you can cross-leverage social media platforms to maximize ROI faster for your design business," Luisana said. "Learn how to #slowitdown to increase the amount of quality, offline time you have to invest in your family, friends and fun!"
At 3:30 p.m, MacSporran returns for an encore of "How to Create 2D & 3D Room Designs That Your Clients Will Love." "Olioboard is a phenomenon and an incredible tool for designers, and we know Sheliah's presentation on Saturday will be packed," Luisana said. "We wanted to be sure that everyone has an opportunity to hear her and ask questions."
On Monday at 10 a.m., Rob Luisana presents "Healthcare Reform and How the New Rules Will Affect Small Business." A frequent presenter at seminars on health care reform and a contributor to health care discussions on National Public Radio (NPR), Rob Luisana is managing partner of Pilot Benefits, a brokerage firm that provides Medical benefit solutions to businesses and individuals. Rob Luisana assists clients in managing Health Care Reform regulations and negotiating health care insurance costs.
Kandrac Kole is next up at 2 p.m., to examine "The Art of Repurposing and Using Vintage Items in Design." An interior design firm founded by principal designers Joann Kandrac and Kelly Kole, this duo has established a reputation for their approachable, dynamic personalities, signature use of color, and one of a kind, custom designs. Their work has been featured by "The New York Times," "House Beautiful," "The Atlanta Journal Constitution," "HGTV.com," "Atlanta Home Improvement" and Houzz.com. Bloggers since 2009, their blog has become popular for all types of design related conversations and has won the allegiance of thousands of readers per month.
Capping the series is designer Allison Paladino, "Why the Bad Economy Has Been the Best Thing for My Business," at 3:30-5 p.m. Paladino focuses on what's important now, from the creative process to building a personal brand as a designer, and why the challenging economy may actually be the best thing that happened to her high-end interior design business. From landing her first job directly out of design school with Thomas Pheasant, to being named "One of America's 25 Top Young Designers" by "House Beautiful," to launching her own design practice serving luxury consumers in the rarified world of Palm Beach, she'll offer the inside story on the licensed collections she's created for E.J. Victor, Trowbridge and Starck. This is a not-to-be missed presentation for any interior designer who has ever dreamed of making the leap to product design or building a major brand, featuring actual samples of the forms and methods Allison utilizes to make her business sing every day. Attendees receive 1 CEU credit.
March 14,
2013 by in UnCategorized
By Home Furnishings Business in Executive Changes on March 15, 2013
Bassett Furniture Inds. (NASDAQ: BSET) has adjusted its management structure to better serve its dualchannel marketing strategy and support revenue growth.
First, Bruce Cohenour has been promoted to the new position of senior vice president of sales and merchandising.
As the geographic footprint of our Bassett Home Furnishings Store network has become more defined, the need for additional vigor in our sales initiatives in areas of the country that do not have Bassett stores has become increasingly apparent, , said Robert H. Spilman Jr., president and CEO, of Bassett, Bassett, Va. " ¦ Bruce is a strong complement to Jason Camp, our senior vice president of retail and marketing. Jason and his team have led an impressive turnaround in the performance of our corporate retail division. With these two men in place, we have strong leadership in both components of Bassetts growth strategy."
Cohenour and Camp continue to report to Spilman.
Additionally, Mike Daniel has been named senior vice president and chief financial officer.
Mike has over 25 years of experience in private and corporate accounting and has done an outstanding job of streamlining our accounting processes, said Spilman. I look forward to continuing to partner with Mike as we strive to improve our financial results and further augment shareholder value.
In the new position of vice president, sales and merchandising for HGTV, Matt Johnson is responsible for HGTV open market business development and the implementation and execution of the HGTV Home strategy with major retailers. Since beginning his career with Bassett in 1984, Johnson has served in various sales management, product development and design roles. He reports to Cohenour.
Bassett veteran Pete Morrison has been promoted to vice president, retail marketing, reporting to Camp and is charged with the development of marketing and promotional programs for the BHF retail store network. His tenure with Bassett includes marketing creative and advertising roles.
Ed Avery has been promoted to vice president, upholstery product development, reporting to Senior Vice President of Upholstery Mark Jordan. Avery has product development responsibility for all motion and stationary leather and fabric frames. His 30-year association with Bassett includes upholstery sales representation and retail management.
Finally, Carlos Bosch has joined the company as national sales manager for upholstery, reporting to Cohenour. In this new role, he is charged with the development of upholstery sales by leveraging Bassett Upholsterys fashionforward styling and custom capabilities in the open market. Bosch comes to Bassett after representing upholstery brands such as Natuzzi and LeatherTrend.