Daily News Archive
Brought to you by Home Furnishings Business
January 17,
2007 by in UnCategorized 
By Home Furnishings Business in Case Goods on January 2007
An affiliate of private investment firm Sun Capital Partners has acquired case goods and occasional importer L. Powell Co. of Culver City, Calif., for an undisclosed amount.
Current management, including President and CEO Bill Benton, will continue to operate the company.
“This transaction is a great opportunity for our Company as well as its employees, suppliers, and valued customers,” Benton said in a release. “With the financial sponsorship of Sun Capital Partners and its affiliates, we will be able to continue to grow our organization at an aggressive pace while enhancing our value proposition and reputation for superlative customer service. I would like to personally thank Rick Powell and his father, Larry, for their insight and diligence in building this wonderful company and for allowing the current management team the opportunity to take it to the next level.”
Powell’s line includes jewelry armoires, youth furniture, home entertainment products, casual dining, and a variety of home accent collections, including its licensed Michael Payne Collections.
“Under the leadership of Bill Benton, Powell has made impressive efforts to augment and improve its product diversification, speed to market, sales and marketing programs, and customer service,” Jason H. Neimark, Managing Director, Sun Capital Partners. “We are looking forward to working with Bill and the management team to help support the Company’s future growth.”
Sun Capital Partners’ and its affiliates’ other furniture holdings include vendor Lexington Home Brands and retailers Mattress Firm, Nationwide Furniture and Wickes.
January 17,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on January 2007
Universal Furniture International has partnered with the Meredith Corp., publisher of Better Homes and Gardens, to develop a full line of furniture. The Better Homes and Gardens Furniture Collection will debut at the spring High Point Market.
The new license will include wood and upholstered products for living rooms, bedrooms and dining rooms at middle to upper-middle price points.
The line will roll out with three distinct collections: a casual, comfortable cottage look merging a bit of country decor with clean modern simplicity; a traditional collection; and a transitional collection with smooth modern lines based in traditional roots.
“We at Universal Furniture feel that Better Homes and Gardens delivers trust, appeal, and scope–three powerful ingredients that will resonate with retailers and consumers alike,” said Universal president and CEO Randy Chrisley. “The Better Homes and Gardens Furniture Collection will be presented in a lifestyle setting to give shoppers the inspiration and ideas to see how the furniture could work in their own homes. Universal Furniture is proud to be a partner in ushering in this new era of branded furniture.”
“We are very excited about this unique partnership,” said Andy Sareyan, president of Better Homes and Gardens. “Universal Furniture International is committed to offering quality furniture with a high degree of value at attractive prices, something our loyal readers expect from the Better Homes and Gardens brand.”
January 16,
2007 by in UnCategorized
By Home Furnishings Business in Tupelo on January 2007
The Fall Tupelo Furniture Market will remain in its traditional month of August.
Market officials had changed the show to June late last year, but following last week’s market, officials decided to flip back to August. The original change was made when the High Point Market was shuffling its dates and as the Las Vegas Market was getting its start.
V.M. Cleveland, the market’s owner, said both retailers and exhibitors told him they were amenable to leaving the August market as it is.
Dates for the market have not yet been set, but if tradition holds the show will likely fall during the third week of August.
January 16,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on January 2007
Levitz Furniture has appointed Larry Zigerelli chairman of the board and chief executive officer, effective immediately. Zigerelli joins Levitz with more than 25 years of product and retailing leadership with expertise in general management, marketing and merchandising.
The company’s current chief executive officer, Tom Baumlin, will remain with the company for a period of transition before returning to Prentice Capital where he worked as an advisor prior to Prentice’s acquisition of Levitz. Baumlin will continue to serve as a Levitz board member.
“We’re thrilled to attract such a significant talent to the new Levitz Furniture,” said Jonathan Duskin, managing director of Prentice Capital Management, primary equity owner of Levitz. “Larry has deep roots in retail and a skill set ingrained in general management, brand building, marketing and connecting with the customer. We view his appointment as a logical next step in the evolution of the company.”
Zigerelli joins Levitz after serving as president of Meijer, Inc. Meijer, a privately held company, is one of the leading grocery and general merchandise retailers with 185 stores in the Midwest and an estimated more than $10 billion in revenue. He joined Meijer in 2002 as senior vice president of marketing and merchandising. Previously, Zigerelli was executive vice president of corporate development and marketing for CVS.
During his 18-year tenure at Procter & Gamble, Zigerelli had various general management and brand management responsibilities. In 1994, he was appointed vice president and general manager of Puerto Rico/Caribbean Food and Beverage and Latin America Marketing & Public Relations.
Zigerelli currently serves on the board of directors of True Value Co., one of the world’s largest retailer-owned hardware cooperatives with about 6,000 independent retail locations worldwide.
“I am excited about Levitz and the furniture industry. We have all the elements in place upon which to build Levitz’ future: a great team of dedicated associates, a great brand and support from Prentice,” Zigerelli said. “Tom Baumlin has built a tremendous foundation from which we can go forward and all of us at Levitz are thankful for his contributions.”
Duskin credited Baumlin with navigating the retailer from bankruptcy to stability.
“He has repaired relationships with our vendors, landlords and customers, has built a world class executive team, and has managed a seamless relocation of our headquarters to downtown Manhattan,” Duskin said. “We want to express our gratitude to Tom, and we are excited that he will continue on the Levitz board and as a member of the Prentice team.”
In addition, Elliott Wahle, chairman of the Levitz board, will be stepping down from that role. He will continue his association with Prentice as their representative on the board of Russ Berrie and Co.
January 16,
2007 by in UnCategorized
By Home Furnishings Business in Markets on January 2007
Two veteran buyers can drive home from High Point in new, luxury convertibles after Lifestyle Enterprise awarded each a new car in drawings that were among the highlight’s of the importer’s three-day Forbidden City Furniture Market, which is expected to bring more than 500 retailers to the company’s showrooms this week.
On Monday night, Jeanie Russ of Farmers Home Furniture, Dublin, Ga., won the keys to a new BMW Z4 convertible at a Lifestyle dinner that filled scores of tables at the International Home Furnishings Center. The following night, Burt Tassel of Alperts Furniture Showplace, Seekonk, Mass., was awarded a Mercedes-Benz SL 320 at a Lifestyle dinner.
Lifestyle officials said both winners were enormously pleased to be selected during the event. In addition to giving away the cars, Lifestyle underwrote the travel expenses of the buyers who traveled to the company’s second January event. Company officials said the Forbidden City Furniture Market will become an annual event in High Point, where furniture showooms typically remain dark between the twice-annual April and October markets.