Daily News Archive
Brought to you by Home Furnishings Business
October 28,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on October 2007
As the Boston Red Sox completed a sweep of the Colorado Rockies Sunday with a 4-3 win in Denver, the loudest cheers came from the thousands of Jordan’s Furniture customers sitting on new sofas that became free as a result of their home team’s World Series victory.
Thanks to a promotion called Jordan’s Monster Deal, customers who bought furniture at the start of the season (March 7-April 16) will get full rebates on some of their purchases as a result of the Red Sox victory Sunday. The deal applies to purchases of mattresses, dining tables, sofas and beds at the four-store chain based in Avon, Mass.
In an interview last week, Jordan’s president and CEO Elliot Tatelman, a life-long Red Sox fan, predicted “our customers will be thrilled” with a Red Sox victory. “They’ll all get their money back.”
He said a decision on whether Jordan’s will offer a similar promotion next year rests with the insurers who protected the four-store retailer with a policy similar to those golf tournaments take advantage of when offering a big money prize to a player who scores a hole in one.
According to press reports, more than 30,000 people made purchases during the contest period, including one customer who Tatelman said bought $100,000 worth of furniture. Tatelman pointed out that the deal applies to sofas, but not chairs or love seats. Still, he said the promotion yielded a significant boost in business in the spring and could do so again.
“Hopefully, we’ll get some of (the rebates) back as people buy some extra pieces they didn’t buy” in the spring, he said.
October 28,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2007
Ethan Allen Interiors Inc., Danbury, Conn., announced Friday that David Callen is joining the company as vice president of finance and treasurer. He replaces Jeffrey Hoyt, who earlier announced plans to resign by Nov. 9 in a filing with the Securities and Exchange Commission.
Callen has served in a number of public enterprises involved in global manufacturing and marketing, most recently as vice president for global finance at Photronics, an industry leading manufacturer of components for the semi-conductor industry. Prior to that he served as corporate controller for Johnson Outdoors Inc., a company that designs, manufactures and markets outdoor recreation products.
“We are very pleased to have someone with David Callen’s experience and leadership qualities join us,” said Ethan Allen Chairman and CEO Farooq Kathwari.
October 28,
2007 by in UnCategorized
By Home Furnishings Business in Casual Furniture on October 2007
Irvine, Calif.-based Tropitone, a manufacturer of outdoor furniture, announced Friday it has been acquired by Pfingsten Partners, a private equity firm based in Deerfield, Ill.
According to an announcement, Pfingsten plans to build the business through a combination of organic growth, add-on acquisitions and the use of its Hong Kong office to increase offshore product sourcing. Terms of the deal were not disclosed. Tropitone and its Basta Sole brands are focused on the specialty retail and commerical sectors, including upscale hotels, cruise ships and country clubs.
Founded in 1954, Tropitone will remain headquartered in Irvine, Calif., and retain the more than 600 employees at its two factories in California and its factory in Sarasota, Fla. CEO Michael Echolds remains a significant shareholder and will continue to serve in his current role. Doug and Angella Baker, the company’s principal shareholders since 1992, will retire.
“Tropitone is an established player in an industry that is growing by more than 5 percent annually, and the fragmented nature of the industry offers ample opportunities for growth through strategies ranging from expanding product offerings and entering new channels to acquiring complementary businesses,” said John Underwood, managing director, Pfingsten Partners.
October 28,
2007 by in UnCategorized
By Home Furnishings Business in Las Vegas on October 2007
Margaret Casey has joined the World Market Center in Las Vegas as director of programming, a new position reporting to Vice President of Marketing Dana Andrew.
Casey will develop new initiatives and focused educational programs for the Las Vegas Market designed to engage, educate and empower retailers and the industry at large. Her responsibilities include collaborating with a number of trade associations and organizations on new event programs exclusive to Las Vegas Market. She also will focus on expanding the event line-up at Las Vegas Design Center in order to attract designers, architects and hospitality contract specifiers on a year-round basis.
Casey has more than 15 years experience in the home furnishings industry, along with extensive background in the design and production of large-scale events for Fortune 500 companies. Most recently, Casey served as associate publisher for Home Furnishings Business magazine and vice president, events and shows for Bay West Showplace Investors, where she developed special events and trade shows for the San Francisco Design Center properties. She also is a founding member of the Sustainable Furniture Council and currently co-chair of the SFC’s marketing committee.
“I will bring a solid understanding of what engages our industry’s top retailers along with extensive experience at the design and luxury end of the home furnishings market,” Casey said. “I look forward to working with the dynamic team at World Market Center to create programming throughout the year that is fresh and relevant for retailers, in addition to developing events and seminars that support the design community.” “Margaret blends creativity with a razor-sharp perspective of the needs of the retail and design community, which will add an exciting new dimension to our growing team,” Andrew said. “This expanded role is consistent with World Market Center’s objective to enrich the market experience, and be a source of inspiration and information to the industry.”
October 25,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on October 2007
Bedding major Sealy, Trinity, N.C., announced Thursday that it will increase wholesale prices on select items due to recent production cost increases associated with fire-retardant materials and foam, steel and rising delivery costs.
“Every business in our industry has been affected by factors like higher fuel costs and material costs, and significant investments to meet the new flame-resistant regulation for mattresses,” said Larry Rogers, president of Sealy North America. “This price increase allows us to continue on a path of growth while remaining competitive in the marketplace.”