Daily News Archive
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August 6,
2012 by in UnCategorized 
By Aggregated Content in Furniture Retailing on August 7, 2012
from http://www.deccanchronicle.com/channels/business/market/ikea-close-securing-india-market-entry-report-350
The government and Ikea Group are nearing a compromise over local-sourcing rules that have been delaying the Swedish retailer's entry into the country.
India has agreed 'in principle' to give Ikea seven years to meet guidelines stipulating foreign, single-brand retailers sell products manufactured from 30 percent locally made or sourced content, the Economic Times said. Originally the government had asked IKEA to comply with the local sourcing rules within one year of starting operations.
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August 6,
2012 by in UnCategorized
By Aggregated Content in Business Strategy on August 7, 2012
from http://www.stltoday.com/business/local/soft-surroundings-takes-on-a-majority-owner-as-it-looks/article_8be10c48-e011-11e1-a1cc-001a4bcf6878.html
As it looks to grow its number of physical stores, Creve Coeur-based Soft Surroundings has formed a strategic partnership with a private equity firm, which now has a majority interest in the largely catalog and Internet-based retailer.
Los Angeles-based Brentwood Associates has taken between a 50 and 60 percent interest in the company in a deal between $150 and $200 million that closed last week, said Tom Wilcher, the chief executive of Soft Surroundings.
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August 6,
2012 by in UnCategorized
By Home Furnishings Business in Rugs on August 7, 2012
Planning ahead to the winter Las Vegas Market, rug supplier Sphinx by Oriental Weavers, will move to an expanded showroom for the Jan. 28-Feb 1 market.
Oriental Weavers has undertaken a major initiative over the last 12 months building new showrooms or renovating existing spaces in High Point, Atlanta, New York, and London. The Las Vegas space will be the fifth new or renovated showroom for Oriental Weavers.
The new showroom is 50 percent larger than its current space and will dedicate space to the Sphinx by Oriental Weavers product categories and the new OW Hospitality division. The showroom will be located on the third floor of building C in space 395.
In the new space, high ceilings have been maintained which will allow the display of larger rugs.
"With the breadth of our current area rug assortment, and tremendous growth in other segments of our business, such as OW Hospitality, the new expanded showroom was essential for us to showcase our existing product line and new market introductions," said Michael Riley president of Oriental Weavers USA. "The World Furniture Market has become the premier market for furniture dealers and design specialists located in the Northwest, Southwest, and West Coast. We are excited about our new expanded showroom, and our commitment to the World Market."
August 6,
2012 by in UnCategorized
By Home Furnishings Business in on August 7, 2012
Twin-Star International has named Robert Cohen chief executive officer.
Cohen spent 11 years with Armstrong World Inds., culminating in his role as president and CEO of Armstrong Cabinet Products. Under his leadership the company posted record revenues and collected three J.D. Power awards for the industry's highest customer satisfaction. Previous experience includes positions at Procter & Gamble, American Airlines, and Sunbeam Corp.
"It's a great honor to be joining the Twin-Star team," Cohen said. "The company is the clear market leader in terms of product design and customer service and I look forward to building on that success."
Cohen's addition will allow company founder Mark Asofsky to focus on continuing to create new market leading product designs as well as focus on business development while serving as co-chairman for the company.
"Rob's appointment adds to what I believe is the one of best management teams in the industry," Asofsky said. "With such a strong team in place I felt this was the right time to take a step back and focus on my true passion, product design. I am also excited to have more time to focus on the charitable activities of the Asofsky Family Foundation."
August 6,
2012 by in UnCategorized
By Home Furnishings Business in on August 7, 2012
Bedding supplier Tempur-Pedic International (NYSE: TPX) has opened its first dedicated bedding store in Natick, Mass.
Conceived to immerse consumers in the brand experience, the flagship store invites shoppers to explore the full product line in one place, at their own pace. The 3,500-square-feet space is located in the Natick Mall.
"Tempur-Pedic has always had a strong focus on establishing a dialog and engaging directly with the consumer," said Patrice Varni, vice president, direct-to-consumer sales and marketing. "The opening of our first store is a logical next step. We're excited to bring our products to life in a retail environment designed to provide product education, build consumer awareness and enhance brand loyalty."
The Tempur-Pedic is a no-pressure sales environment, featuring an array of 'micro-bedroom' areas. The 12 beds offered are grouped by collection, creating a sense of privacy and making it easy for consumers to browse and compare mattresses. Sampling from a pillow bar allows them to fine tune their quest based on individual preference.
The store showcases the full Tempur-Pedic product line across all categories, including beds, pillows, bed linens, slippers, and home and travel. In addition to its own proprietary products, the Tempur-Pedic store sells items that complement the brand, offering a selection of candles from NEST Fragrances with other products that extend comfort and wellness.