Daily News Archive
Brought to you by Home Furnishings Business
June 9,
2011 by in UnCategorized 
By Home Furnishings Business in Community/Charitable Support on June 10, 2011
More than 500 home furnishings industry leaders gathered recently to honor E.S. Kluft & Co. CEO Earl Kluft with City of Hope's Lifetime Achievement award.
The award was presented in conjunction with City of Hope's West Coast Golf and Tennis Tournament at the Coto de Caza Golf and Racquet Club in Orange County. The event, the largest of its kind sponsored by City of Hope's National Home Furnishings Industry, raised approximately $750,000. Kluft donated the most luxurious mattress in America valued at $33,000 to the silent auction.
"Those who know me know that I have true passion for my craft," Kluft said. "That is why it has been so fantastic to work with a great organization like City of Hope and people who have true passion for their craft. I am in awe of the passion of the doctors, researchers, fundraisers and donors and their commitment and dedication to providing a caring and giving environment that allows for respect, dignity and hope for people struck by debilitating and sometimes fatal diseases--thankfully less fatal than ever, because of City of Hope's great work."
In the last 20 years this event has raised nearly $6 million for City of Hope, and NHFI has raised more than $43 million over the past 45 years for lifesaving research and treatment programs at City of Hope.
"Earls passion and commitment is second to none. We are more than honored to have Earl and his family, friends and associates stand with City of Hope in the fight against cancer," said Shannon Sullivan, director of development at City of Hope. "His support will enable researchers to fast track promising, new therapies for a future without cancer."
June 9,
2011 by in UnCategorized
By Home Furnishings Business in licensing on June 10, 2011
Biltmore's licensing division has announced new fashion bedding and bath and body products created for the season by licensing partner Belk.
The new products are an addition to Belk's extensive collection of Biltmore products and were inspired by elements in and around Biltmore House.
"Belk is a strategic partner for Biltmore and consistently designs excellent products for our brand," said Tim Rosebrock, vice president and general manager of Biltmore's licensing division. "They have helped us give consumers the opportunity to bring the Biltmore lifestyle into their own homes."
Belk introduced four new fashion bedding collections, each of which were inspired by Biltmore gardens and arbors. Each bedding collection includes a comforter, pillow shams and a bedskirt. These introductions include the Spring Garden Collection, which was designed after a garden by the same name. The many spring-blooming shrubs in the Spring Garden inspired the lively yellow color and friendly bird pattern in this bedding.
Belk's three new bath and body scents draw inspiration from the spring blooms of the gardens that surround Biltmore House. The Gardens scent features a sweet vanilla floral musk with a hint of fruit and notes of lily of the valley, freesia and iris.
June 9,
2011 by in UnCategorized
By Home Furnishings Business in sourcing/importing on June 10, 2011
The U.S. Department of Commerce has extended the deadline for completing its administrative review of 2009 wood bedroom furniture shipments from China.
DOC is supposed to complete reviews 120-days after an initial ruling, which in this case was issued Feb. 10, but according to a Federal Register announcement needs more time to consider comments concerning Chinese manufacturer Zhangjiagang Zheng Yan Decoration Co. Ltd.
DOC will now complete final results by July 11.
June 9,
2011 by in UnCategorized
By Home Furnishings Business in Mattresses on June 10, 2011
Mattress maker Anatomic Global has entered an agreement providing funding of up to $20 million to reduce debt, fund working capital, launch new branding and merchandising programs and invest in new equipment.
According to a company release, Anatomic Global's sales have increased more than 50 percent each of the past two years, but that growth has presented challenges that the new investment will correct.
"It is a good problem to have, but a challenging one nonetheless; rising sales and having the funding requirements to support the growth," said Corona, Calif.-based Anatomic Global Chairman and CEO David Farley. "This agreement will allow us to relieve all of our short term cash burdens and to pick up the pace of investment in our brand and infrastructure. Having the ability to bring in additional funding beyond the initial tranche over the next five years based on our performance makes this deal a real home run."
Under terms of the transaction, a new corporation, Anatomic Holdings Inc. has been formed. FXI Holdings Inc. is a part of the new enterprise and Farley remains chairman and CEO. In terms of debt reduction, the company will reduce a multi-million dollar credit obligation to a key supplier, dating back to the launch of its consumer business two years ago.
In terms of corporate branding, the company is planning a significant product introduction at this summer's Las Vegas Furniture Market and a more comprehensive rebranding for early 2012. Anatomic is also planning to add equipment to its manufacturing site to increase operational performance.
"The memory foam sector continues to just explode and we are thrilled by the retailer consumer response to our products," Farley added. "We are excited by the new structure of our business as it will assure our ability to keep pace with this brisk growth and with our business plan that has us breaking through the $100 million sales range during the next five years."
June 8,
2011 by in UnCategorized
By Home Furnishings Business in Legal on June 9, 2011
A Dallas, Texas, jury has awarded furniture liquidator Southwest Furniture Brokers almost $1.25 million in a suit against Broyhill Furniture.
The jury decided that Lenoir, N.C.-based Broyhill failed to comply with the terms of a verbal contract it made with Southwest Furniture Brokers, Tyler, Texas; and that a Broyhill vice president committed fraud and awarded a total of $1,245,000, including attorneys' fees.
According to an announcement of the award, in 2007, Southwest Furniture agreed to conduct a $20 million Broyhill Manufacturer's Sale in Grapevine, Texas. In order to prepare for the six-month sale, Southwest was forced to close its operations in Tyler. As part of the agreement, Southwest was promised a 10 percent commission on sales. Attorneys for Southwest Furniture argued that Broyhill breached the agreement by, among other things, failing to provide the amount of merchandise it promised to make available for the sale. Broyhill also conducted a competing $20 million sale at Big Lots.
"This is not the way you do business and I'm glad the jury saw it that way," said Ross Cunningham, a partner in the trial law firm Rose Walker. "In business, if you promise to do something, you have to do it."
Broyhill parent company, St. Louis-based Furniture Brands International, responded that the case is not over.
"A final judgment has not been issued," said Lisa Hanly, director of media relations at Furniture Brands. "We expect to make substantial post-judgment filings and cannot comment until final judgment has been issued."