Henredon & Drexel Heritage Relocate Headquarters
Furniture Brands International announced that the company is moving its Henredon and Drexel Heritage headquarters offices, which had previously been co-located, into two separate Furniture Brands locations.
Henredon's management team, including the general management, sales, marketing, finance, and merchandising functions will relocate to a current Furniture Brands facility in High Point, N.C. that will provide Henredon with both a new stand-alone headquarters location as well as on-site domestic manufacturing capability. This move will enable Henredon to increase its U.S. made product and support Henredon's efforts to operate as a more fully integrated business within the Furniture Brands Designer Group. Under the leadership of President Dan Bradley, the recently formed Designer Group -- which also includes Maitland-Smith, Pearson, Hickory Chair, and Laneventure -- focuses on the development of furniture to meet the needs of the high-end consumer along with the rapidly growing professional interior design community. All Henredon moves are expected to be completed in time for a high-quality showing at October market.
Drexel Heritage will relocate to the current Furniture Brands general offices in Thomasville, N.C. where both Drexel Heritage and Thomasville Furniture Industries will share separate space within this facility. Both brands will continue under the direction of Ed Teplitz, President of Thomasville. The transition is part of Furniture Brands' plan to strengthen its retail business through a direct-to-consumer strategy and stand-alone showcase galleries. Moves are expected to begin in the second quarter and will involve the transition of several Drexel Heritage functions, including general management, finance, sales, marketing, and merchandising to the new location. The Drexel Heritage transition will be completed in time for the October market, which will be held in the showrooms at the new location.
"These latest moves support two of our strategic initiatives -- winning with customers and delivering operational excellence," said Chief Executive Officer Ralph P. Scozzafava. "The Henredon move is very exciting as it helps Henredon return to its roots as a premier high-end brand with enhanced U.S. manufacturing capability. By co-locating our management, designers and merchants with manufacturing, we expect to dramatically increase our creativity and our product quality to deliver more and better Henredon products to the market. In the case of Thomasville and the Drexel Heritage teams, both brands have tailored marketing and product development strategies for each separate business that leverage the distinct brand promise for each franchise to put the right products in front of the consumer. The Drexel Heritage headquarter move will enable us to streamline operations and eliminate the expense of surplus assets."
These changes are expected to be completed during the second quarter of 2008. The company will pursue a sale of the former Henredon/Drexel Heritage office building, and proceeds will be used to implement Furniture Brands' strategic plan and reduce debt, where appropriate.
About Furniture Brands: Furniture Brands International (NYSE:FBN) is a vertically integrated operating company that is one of the nation's leading designers, manufacturers, and retailers of home furnishings. With annual sales in excess of $2 billion, it markets through a wide range of retail channels, from mass merchant stores to single-brand and independent dealers to specialized interior designers. Furniture Brands serves its customers through some of the best known and most respected brands in the furniture industry, including Broyhill, Lane, Thomasville, Drexel Heritage, Henredon, Pearson, Hickory Chair, Laneventure, and Maitland-Smith.
Furniture World is the oldest, continuously published trade publication in the United States. It is published for the benefit of furniture retail executives. Print circulation of 20,000 is directed primarily to furniture retailers in the US and Canada. In 1970, the magazine established and endowed the Bernice Bienenstock Furniture Library (www.furniturelibrary.com) in High Point, NC, now a public foundation containing more than 5,000 books on furniture and design dating from 1620. For more information contact firstname.lastname@example.org.