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January 24,
2013 by in UnCategorized 
By Home Furnishings Business in Executive Changes on January 25, 2013
Foam products producer FXI has named Diane Adams to the newly created position of chief marketing officer.
The move is part of FXI's increased R&D efforts to develop more customized solutions for its customers; and to reinforce the companys commitment to maintaining its position as a leader in innovation and growth through product development and market research.
Adams oversees the customer marketing for all of its divisions. She joined FXI one year ago and is credited with leveraging market research to provide customers with the right tools, training and support needed to increase sales. In her new role, she will focus on customer marketing efforts across the organization.
Through the use of insightful research and the development of dynamic marketing tools over the past year, we have shown our customers that they can significantly expand their sales and profitability by partnering with FXI, said Media, Pa.-based FXI President and CEO John Cowles. With Diane leading the way, our company will continue to make significant investments in marketing and R&D to present our business partners with more innovative solutions to improve their own performance.
It has been a very exciting and fulfilling year for me at FXI, said Adams. We have made important strides in developing innovative solutions and we want to continue to expand our partnerships. By leveraging our insights and break-through technologies across all channels, we can help our customers sell more product and increase profits.
January 24,
2013 by in UnCategorized
By Home Furnishings Business in Acquisition on January 25, 2013
Bedding retailer Select Comfort has acquired Comfortaire Corp. in a $15.5 million deal that closed Jan. 17.
The company reported the acquisition in its year-end earnings report.
"This investment progresses our role as the leader in delivering innovative products as part of an individualized sleep experience, while also strengthening our company's competitive advantages. Specifically, with Comfortaire, we anticipate benefits from the convergence of intellectual property," said Shelly Ibach, president and CEO of Select Comfort. "We also are pleased that the second-largest adjustable air-bed company - with its experienced team and shared commitment to quality, innovation and individualization - is now part of Select Comfort."
Select Comfort purchased the business and assets of Comfortaire from mattress manufacturer, Park Place Corp. Comfortaire is a privately held company with 2012 revenues of $10.5 million that manufactures and markets adjustable air-supported sleep systems. Founded in 1981, the company is headquartered in Greenville, S.C., and employs 24 professionals. Select Comfort will continue to operate the Comfortaire business through an independent subsidiary.
The company also committed $4.5 million for a minority equity investment in one of its strategic product-development partners. This investment complements the company's current R&D capabilities and is associated with products scheduled to launch during the next 12 to 24 months.
Both transactions are being funded through the company's internally generated cash reserves.
January 24,
2013 by in UnCategorized
By Home Furnishings Business in Mattresses on January 25, 2013
Mattress vendor Spring Air will launch a year-long sales incentive at Las Vegas Furniture Market to drive growth of flagship Back Supporter brand.
The powerful, turn-key retail sales incentive program will award, among other major prizes, an all-expense-paid trip for two to the 2014 Super Bowl. The trip to Super Bowl XLVIII will be awarded to the Spring Air retailer that sells the most Back Supporter beds during 2013.
The company also is making available two additional Super Bowl XLVIII tickets for a consumer drawing that participating retailers can advertise and promote in their local markets.
Super Bowl 48 is scheduled to be played on Feb. 2, 2014, at MetLife Stadium in East Rutherford, N.J.
Also in Las Vegas, Spring Air will prominently present the International Back Supporter of the Year--the Back Supporter Euphoria--made by the companys Jakarta, Indonesia licensee. The presentation will include a video showcase of Spring Airs international licensees and the Back Supporter products they currently market in 33 countries around the globe.
Were dedicating 2013 to one of the most longstanding and successful mattress brands in the industry, commented Rick Robinson, company president. The Back Supporter name has a rich history and legacy both in the U.S. and overseas. Our objective in the New Year is to further drive awareness, preference and sales of the brand through increased exposure, ongoing and focused promotion, value pricing and sales incentives.
At its B-1126 Las Vegas showroom, the company is reserving its two front display windows for a domestic and an international presentation of Back Supporter products.
In the domestic window, Spring Air will display the nationally specified, firm and plush choice of Special Edition models. The beds incorporate layers of latex or gel foams, plus premium foams, and feature luxury quilted velour tops with caramel-colored suede borders. The domestic showcase also will include Super Bowl 2014 promotional materials and information on the Spring Air Rewards retail incentive program.
Featured in the international window, the Back Supporter Euphoria model is an ultra-luxury, fully appointed Eurotop design using multiple layers of premium, zoned latex and memory foams, plus Spring Airs proprietary five-zone wrapped coil core. To be made available to retailers around the world, the Euphoria bed has a sleek upholstered headboard and frame; an extra plush, deep-quilted knit top panel; alternately quilted side panels and decorative handles embroidered with the Spring Air logo.
Along with the grand prize of a trip to the 2014 Super Bowl, participating Spring Air retailers also can qualify for other major awards by earning performance points based on their Back Supporter sales.
Spring Air is developing a video for its sales force that details the Rewards Program and outlines other incentive prizes, including accommodations and tickets to major sporting events like MLB, NBA, NFL and PGA games or tournaments; exotic vacations and cruise packages, plus electronics, sporting goods and home appliances.
In addition to the retailer Rewards Program, Robinson noted that Spring Air will hold other events and promotions throughout 2013 to maintain focus on Back Supporter products and to drive sales momentum.
January 23,
2013 by in UnCategorized
By Home Furnishings Business in Case Goods on January 24, 2013
Case goods and occasional furniture importer Acme Furniture is moving to an expanded showroom for the upcoming Las Vegas Furniture Market.
The company will show in a 31,000-square-foot showroom in space C-1401 of World Market Center Las Vegas. The new showroom is 50 percent larger than its previous space, which was located on the 12th floor of the C Building.
"Our business has been expanding very rapidly," said Gabriel Pu, senior sales vice president of Acme. "The time was right to increase our space so that we can show more of our fast-growing line. We've become a one-stop-shopping source for retailers of all sizes."
At the winter Las Vegas Market, Acme Furniture will introduce new products across all of its core categories, including case goods, upholstery and occasional. The line includes traditional, transitional and contemporary styles, with pricing in the midrange of the market.
January 23,
2013 by in UnCategorized
By Home Furnishings Business in Business Strategy on January 24, 2013
La-Z-Boy Inc. (NYSE: LZB) has closed on the land purchase in Monroe, Mich., to build a new headquarters.
La-Z-Boy purchased the 120 acres in Monroe, Mich., from the Sisters, Servants of the Immaculate Heart of Mary order.
The land purchase completion, combined with the finalization in December of a combination of Michigan state, county and local tax breaks and grants to support the project, paves the way for La-Z-Boy to begin final design of the building and site. The company has a goal of breaking ground and beginning construction in the spring with the expectation of moving into the new headquarters in late 2014 or the first half of 2015.
Preliminary plans include a LEED certified headquarters building nestled into a parcel of land across from an oak savannah. Many areas of the building will have views into the wooded area. Vegetated swales in the parking lots, walking trails for employees and other natural features including meadows are also part of the plan.
"We are delighted to have finalized the purchase of land from the IHM Sisters and are excited to be moving forward with the final design and construction of our new world headquarters," said Kurt Darrow, chairman, president and CEO of La-Z-Boy. "When completed, this landmark facility will provide an inspiring, innovative and collaborative work environment for our employees and highlight our evolving image as a worldwide leader in our industry."