Home Furnishings Markets Archives - Home News Now https://homenewsnow.com/blog/category/home-furnishings-markets/ Your Source for Home Furnishings Retail News Tue, 02 Jul 2024 16:43:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://homenewsnow.com/wp-content/uploads/2021/01/cropped-Screen-Shot-2021-01-11-at-8.33.36-PM-32x32.png Home Furnishings Markets Archives - Home News Now https://homenewsnow.com/blog/category/home-furnishings-markets/ 32 32 Universal Furniture to debut at Casual Market Atlanta https://homenewsnow.com/blog/2024/07/02/universal-furniture-to-debut-at-casual-market-atlanta/ https://homenewsnow.com/blog/2024/07/02/universal-furniture-to-debut-at-casual-market-atlanta/#respond Tue, 02 Jul 2024 12:09:57 +0000 https://homenewsnow.com/?p=45106 HIGH POINT – Universal Furniture is set to make its debut at Casual Market Atlanta from July 15-18, showcasing pieces from the Coastal Living Outdoor …

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HIGH POINTUniversal Furniture is set to make its debut at Casual Market Atlanta from July 15-18, showcasing pieces from the Coastal Living Outdoor collection. Universal Furniture will be showing in Building 1, Floor 7, Booth #647.

This table and chair set is part of Universal’s South Beach collection.
This sectional is part of Universal’s new Saratoga collection, which will shown at the Casual Market Atlanta.

“As the key buying destination for outdoor furnishings, Universal is excited to be a part of Casual Market,” said President Sean O’Connor. “It provides us with the opportunity to gain exposure to new potential customers.”

Universal will showcase multiple designs from its Coastal Living Outdoor collection, which includes dining and lounging furnishings in multiple weather-resistant materials such as powder coated aluminum, grade-A teak, cast concrete and all-weather wicker.

The new Saratoga Collection, introduced at spring High Point Market will be featured in the space. This modern Adirondack-inspired collection features outdoor seating, lounging, and dining furniture characterized by its angled seat back and classic wide planking. Crafted from solid teak (with a warm weathered-teak finish) and cast aluminum, accented with cast concrete details, each piece exudes a sense of rustic elegance and simplicity.

The antimicrobial foam cushions in the Coastal Living Outdoor collection can be customized with one of more than 500 fabrics, including both Sunbrella brand fabrics and InsideOut performance fabrics. And customers can opt for COM upholstery to tailor their pieces to specific preferences.

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Home News Now seeks summer Las Vegas Market submissions https://homenewsnow.com/blog/2024/06/17/home-news-now-seeks-summer-las-vegas-market-submissions/ https://homenewsnow.com/blog/2024/06/17/home-news-now-seeks-summer-las-vegas-market-submissions/#respond Mon, 17 Jun 2024 19:41:55 +0000 https://homenewsnow.com/?p=44663 Home News Now is accepting product submissions for the upcoming summer Las Vegas Market, taking place July 28-Aug. 1. To submit new or trending products, …

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Home News Now is accepting product submissions for the upcoming summer Las Vegas Market, taking place July 28-Aug. 1.

To submit new or trending products, email editor Alex Milstein at alex@homenewsnow.com with:

  • High-quality images on a white background, at least 300 dpi. No lifestyle images. Images cannot have text on them.
  • Description of each product (brief 50-75 words describing the product — product/collection name, design, materials, price, unique qualities or inspiration behind your product).
  • Company information (name, phone number, website).
  • Las Vegas showroom (number and location).

The deadline to submit is July 12.

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High Point Market Authority board approves FY 24/25 budget https://homenewsnow.com/blog/2024/06/12/high-point-market-authority-board-approves-fy-24-25-budget/ https://homenewsnow.com/blog/2024/06/12/high-point-market-authority-board-approves-fy-24-25-budget/#respond Wed, 12 Jun 2024 23:13:46 +0000 https://homenewsnow.com/?p=44468 HIGH POINT — At its quarterly meeting here Wednesday, the High Point Market Authority board approved its annual budget for its 2024/25 fiscal year that …

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HIGH POINT — At its quarterly meeting here Wednesday, the High Point Market Authority board approved its annual budget for its 2024/25 fiscal year that begins July 1.

The budget includes total revenues of $14.05 million and total expenses of $14.043 million.

Major revenues include $5 million in nonrecurring funding from the state of North Carolina for infrastructure improvements. This is part of an overall $9 million the state committed to the market in one-time revenues to be spread over about two years, including roughly $2 million spent thus far.

The estimated $9.05 million in total recurring revenues includes $4.45 million from the State of the North Carolina, $3.5 million from local government and another $1.07 million in recurring funds.

“We are near the top of what we can expect in our funding, and the great news is that all that money from the state is recurring,” said Doug Bassett, board member and governmental affairs expert, noting that local governments also remain consistently loyal contributors to the High Point Market.

He said that in the future, there also may be other opportunities to seek one-time funding support from the state if the market authority has a particular project in mind, although he doubts it will be to the tune of $9 million.

“If we needed to purchase a key piece of real estate either for parking or something like that, and if we show a demonstrable need, there is a chance we could go to the state for more one-time funds as needed,” he said.    

Outside of the nonrecurring funds from the state, the Market Authority has budgeted $9.043 million in expenses that include:

+ $815,800 for executive leadership and administrative staff.

+ $2.14 million for transportation.

+ $1.09 million for registration costs.

+ $3.1 million for marketing.

+ $1.9 million for guest services.

Tammy Covington Nagem

HPMA President and CEO Tammy Covington Nagem noted that operating expenses have decreased about 3% — with some departmental cost shifts versus major changes in staffing — to reflect a reduction in American Rescue Plan Act and Covid-related revenues that are about to sunset. The market authority also has contracted with a new registration vendor that will result in some tasks such as telemarketing — aimed at reminding buyers about market and helping them get registered over the phone — done in house.

In addition, she noted,  expenditures continue to focus on areas such as technology improvements, keeping one night of national talent each market, and on-site wayfinding for market guests such as signage. The market authority also continues to focus on efforts to increase attendance from various buyers that have not attended market regularly of late.  

“We are really concentrated in areas that we feel will help move the needle for market,” she said. “And this budget is very reflective of that.”

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Decor-Rest Group acquires former Homelegance showroom in High Point https://homenewsnow.com/blog/2024/06/12/decor-rest-acquires-former-homelegance-showroom-in-high-point/ https://homenewsnow.com/blog/2024/06/12/decor-rest-acquires-former-homelegance-showroom-in-high-point/#respond Wed, 12 Jun 2024 12:39:22 +0000 https://homenewsnow.com/?p=44426 The building is nearly triple the size of its neighboring building at 208 Jacobs Place, giving it more room to showcase an expanded line that …

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The building is nearly triple the size of its neighboring building at 208 Jacobs Place, giving it more room to showcase an expanded line that includes its sister upholstery brands

HIGH POINT — Canadian upholstery manufacturer Decor-Rest Group has purchased the former Homelegance showroom building at 212 Jacobs Place, setting the stage for the growth with new and existing customers in a facility that is nearly three times the size of its original showroom just next door.

The company closed on the 22,000-square-foot building on May 1 and plans to move in before the fall market cycle, starting with premarket in September.

The original Decor-Rest showroom is at right and the building it purchased, formerly occupied by Homelegance, is to the left, forming part of the same 30,000-square-foot showroom campus.

The building is just next door to its existing showroom building at 208 Jacobs Place, which it plans to keep and either use or possibly rent — but not sell — in the future.

This is a view of the Decor-Rest’s new High Point showroom building at 212 Jacobs Place

The one-level showroom at 212 Jacobs Place is much larger that Decor-Rest’s 8,000-square-foot, two-story building, where it has shown for more than 30 years. During its  first few years in that space, it rented the building from the Broyhill family, then later purchased the property.

“We loved it so much as we were renting it, and then we had the opportunity to buy it from the Broyhill family,” company President Angelo Marzilli Jr. told Home News Now.  “It’s been home to us for the last 30 years. Our customers know where we are, and we’ve grown very nicely because of it.”

Following its purchase of the SuperStyle and Trendline brands in early 2022, the company’s product line has grown even further, with little additional space to showcase its Canadian-made assortment. Originally, the company planned to expand its existing showroom, but ran into logistical challenges and unforeseen expenses associated with the project.

Angelo Marzilli Jr.

“It went over budget real fast,” Marzilli said, noting at one point building designers suggested tearing down the building and restarting it from scratch.

While that might have made sense from a design and construction standpoint, the Marzilli family did not wish to pursue that option.

For one, the building has long been a High Point market landmark sporting a sandy-beige exterior with contrasting dark awnings sporting the Decor-Rest name. Dating back to 1930, it also has historical significance as the original headquarters for the High Point, Thomasville and Denton railroad.

“It’s got a story and it’s a beautiful boutique-looking building,” Marzilli said. “I would hate to tear it down just because I needed more space.”

Then the Homelegance building next door came on the market as that company had purchased a larger showroom in the former Zaki Oriental Rugs building at 600 S. Main St.

While not disclosing the purchase price, Marzilli said the building was the showroom solution Decor-Rest was seeking. It provides plenty of space to showcase all three brands, although much of the product sold under the Trendline and SuperStyle brands will be presented as part of expanded collections by Decor-Rest.

“This is a strategic move for us, creating an opportunity to showcase more product and providing a cohesive merchandising plan,” Marzilli said. “We can now bring all our brands together under one roof: Decor-Rest Furniture, SuperStyle and Trendline. Our expanded space will provide the opportunity to display many more product introductions, plus continuing to highlight our bestselling collections.”

After Homelegance showed in its new space on South Main Street for the first time in April, Decor-Rest actually got to use about 3,000 square feet of space in the building during the April market. It also showed some product in Space 510 of Furniture Plaza, where it plans to also have a presence.

“It was a hit,” Marzilli said of the new space next door. “Our customers liked it, and we liked it. It was comfortable, and it felt right. So it was like a test drive. We were so happy with the 3,000 feet that we pursued buying it completely. And that’s what came of fruition on May 1.”

The company is in the process of upfitting its new showroom building, which also has an adjoining parking lot that can provide much-needed parking for dealers, another key feature that made the building an attractive investment.

“This showroom will provide a unique experience for dealers,” Marzilli added, noting that the company even recently repainted its original space and the new space white, to give a consistency to the two buildings, which he described as part of the same campus, effectively creating an expanded footprint without changing other major physical aspects of the two neighboring buildings. “Our visual presentation will be both innovative and educational — showcasing our product and telling the Decor-Rest Furniture story.”

While the company plans to be open for premarket in September, it plans an official ribbon cutting during the October High Point Market at 10 a.m. Friday, Oct. 25. A party that continues the celebration of the new showroom is planned for 5-7 p.m. that evening.

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Casual Market Atlanta set for July 15-18 https://homenewsnow.com/blog/2024/06/05/casual-market-atlanta-set-for-july-15-18/ https://homenewsnow.com/blog/2024/06/05/casual-market-atlanta-set-for-july-15-18/#respond Wed, 05 Jun 2024 15:26:42 +0000 https://homenewsnow.com/?p=44137 ATLANTA – Casual and outdoor furnishings brands are set to make their mark in Atlanta once again, with more than 100 temporary exhibitors confirmed for the …

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ATLANTA – Casual and outdoor furnishings brands are set to make their mark in Atlanta once again, with more than 100 temporary exhibitors confirmed for the second annual Summer Casual Market Atlanta, running July 15 – 18, 2024, at AmericasMart Atlanta.

“Casual Market’s temporary exhibits showcase a dynamic collection of established and emerging brands, making them a must-see resource in July, ” said Dorothy Belshaw, Andmore president. “The enthusiasm and energy surrounding casual and outdoor in Atlanta has allowed casual brands to expand not only to showcase their latest collections but also to magnify their reach with a diverse and dynamic group of retailers and designers eager to see the newest in outdoor living.”

Building on permanent showroom expansion fueled by the success of last July’s inaugural event at AmericasMart Atlanta, Casual Market Atlanta’s temporary exhibitors now will be presented in a new tradeshow location on Floors 7 and 8 of Building 1. The vibrant, and growing, list of 100+ temporary exhibitors includes a roster of new and notable casual furnishings and outdoor furniture suppliers.

Among first-time exhibitors making their debut at Casual Market Atlanta this July are: Century and Hickory ChairRacing Champ FurnitureSunshow Worlds Convention & Exhibition Co.Tru180°Wrmth Corp. and ZoomBroom.

Notable returning brands in the Casual Market Atlanta temporary exhibits include: Bernhardt Furniture CompanyCO9 DesignErwin and Sons Direct ImportsFiberbuilt Umbrellas and CushionsLafuma AmericaPelican Reef/Panama Jack OutdoorSunbrellaThe Hammock SourceUniversal Furniture and Windward Design Group.

“I am truly excited for outdoor furnishings retailers and designers to have access to an expanded roster of manufacturers and a wider array of products for outdoor living at Summer Casual Market Atlanta,” said Jackie Hirschhaut, executive director of the International Casual Furnishings Association. “The impressive merchandise assortment will afford dealers the opportunity to personalize their own customer offering with curated items that imbue a unique flavor.”

Casual Market Atlanta’s 100+ temporary exhibits complement 70+ casual furnishings and outdoor furniture permanent showrooms located on Floors 2-6 of Building 1. A full list of exhibitors is available at CasualMarketAtlanta.com/showroom-exhibitor-listing.

During Summer Casual Market, temporary exhibits, located on Floors 7 and 8 in Building 1, are open Monday, July 15 – Wednesday, July 17, 9 a.m. – 6 p.m., and Thursday, July 18, 9 a.m. – 2:30 p.m. Casual and outdoor showrooms are open Monday, July 15 – Thursday, July 18, 9 a.m. – 6 p.m., and will remain open through Monday, July 22, for the duration of the concurrent Atlanta Market.

The fall edition of Casual Market Atlanta, running September 16 – 19, 2024, offers a full market experience with outdoor furnishings, education, events, and resources. Featuring 50+ temporary exhibits and 70+ permanent showrooms, the September market offers a second opportunity for casual and outdoor retailers to source the latest trends in outdoor living.

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Interwoven offers aggressive product launches https://homenewsnow.com/blog/2024/05/10/interwoven-offers-aggressive-product-launches/ https://homenewsnow.com/blog/2024/05/10/interwoven-offers-aggressive-product-launches/#respond Fri, 10 May 2024 12:07:57 +0000 https://homenewsnow.com/?p=42972 Resources are expanding their lines with an eye on the recovery, not the current retail slowdown HIGH POINT — Textile and leather resources looking to …

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Resources are expanding their lines with an eye on the recovery, not the current retail slowdown

HIGH POINT — Textile and leather resources looking to stay current with styles and values across their product lines came to the spring edition of Interwoven this week with plenty of new introductions ultimately aimed at driving consumer interest on retail floors heading into next year.

Presenting a combination of color and textured looks and designs, many also offered strong values including within starting price points on a wide mix of seating to be launched later this fall.

Given that the show was just barely three weeks from the April High Point Market, some said the event felt lightly attended, the result of buyer fatigue that also has resulted from extended trips to Milan and the recently concluded HD Expo.

Nonetheless, there was plenty to see in both fabric and leather as resources came prepared to show the latest across a wide mix of styles, including updated traditional and artisanal looks to contemporary and modern designs in pillow patterns, plus a wide color palette in body cloths, ranging from neutrals to bright colors including greens, blues, orange and russet tones.

At Sunbrella, there were some 25 new patterns with multiple colorways for a total of 160 new SKUs the company said were inspired by “artisanal influences, inviting textures and rich, earthy colorways.” Many of the looks are designed to work in both indoor and outdoor settings, complementing the design of frames that also can work as easily inside one’s home as in outdoor settings, as well as sunrooms and screened-in porches as the fabrics are bleach cleanable, mold and mildew and fade resistant.

Company officials acknowledged the challenges at retail that will certainly impact not only the sale of fabrics from this market, but also from last fall that were just shown on new frames at the April High Point Market. However, there appeared to be plenty of interest from those attending the show, particularly in textures, colors and new patterns.

“People still want newness and freshness,” said Amy Gillam, design director, adding that many companies are still working through inventories as they navigate the current business environment and try “to figure out what’s next. But they are going to do it in a way that is rightsized for their business.”

Regardless, the pricing structure of the line offers a good-better-best story that aims to provide something for every customer need.

“We are focused on creating value at all levels, from basic solutions to top-tier luxury offerings,” Gillam added.

Culp’s introductions included several new style categories aimed at evoking moods inspired by natural settings and themes, including Folk Future, Desert Palm and Homespun to name a few. Each features dozens of new patterns and colors, offering customers a wide selection providing both texture and comfort.

Culp’s showroom in Congdon Yards in downtown High Point showcased many new patterns and colorways across a range of price points.

They also are aimed at creating a new level of inspiration for retailers and their customers.

“They need something new on the floor when business does come back,” said Tammy Buckner, senior vice president of design and marketing, noting that the line offers a good-better-best pricing story along with high levels of style and comfort in each segment. “We have given it an equal focus to provide value in each area.”

Culp said it received positive response to its new fabrics as well as its new partnership with HeiQ that offers the company’s Allergen Tech enhanced interior upholstery fabrics, with Culp as the exclusive supplier. The company said that Allergen Tech addresses problems ranging from dust mite matter to pet allergens in textiles “with the help of active probiotics, making it ideal for applications in upholstered furniture, such as sofas, armchairs, and other upholstered furniture products, which are among the household items that are rarely or never washed.”

“We introduced this new option at Interwoven to all of our customers and had HeiQ on site for demonstrations and questions,” Buckner told Home News Now. “It is a finish that we can apply to any fabric in our line and it works with our LiveSmart or Washables line if the customer wanted to offer it as a part of their performance line.  It doesn’t wash away or wear off so it does last for the lifetime of the fabric. This has been perfect timing for introduction with it being in the middle of North Carolina allergy season.”

“We’ve been really excited about the reception it has gotten at Interwoven and think it’s a great addition to our Health and Wellness fabric offerings,” Buckner added.

These and other resources also noted that combined with innovation, competitive pricing remains key in today’s marketplace, and many values were to be had in starting price points in particular.

For example, STI Revolution’s Game Changer line offered seven new patterns and a total of 38 SKUs priced from $3 to $4.50 per yard. Available from the company’s North Carolina and Mississippi warehouses at the end of May, these and other fabrics in its Lone Star and Benson lines are part of the Express program that ships product in as little as a few days or less from the time of order. Other special order fabrics in the line are available within roughly seven weeks.

Revolution STI showed a mix of blue tones on pillows and ottomans that contrasted with the neutral tone of the body cloth on this sectional.

The company also has a mix of product that falls toward the upper end of the line spanning from about $10 to $19 a yard, offering a mix for a wide range of customers.  

Officials note that the depth and breadth of the line, including its presence in the outdoor segment, has helped grow the business in challenging times. Officials noted that in particular, the domestically produced line avoids issues such as rising container rates along with potential customs delays not to mention tariffs on fabrics imported from China.

“You take all of those issues out of the equation,” said Sean Gibbons, president and chief executive officer.

Still, domestic producers appear to face ongoing competition from importers, whose introductions also were strong in the starting price points. For example, Nice Link’s mix includes 60 patterns and 10 colorways for an estimated 600 SKUs, half of which are pillow patterns and half of which are body cloths. Including freight and China tariffs, the line ranges from roughly $2.95 to $10.95 per yard.

Jim Ennis, president and chief executive officer of Vision Fabrics, shows some of the colorful new fabrics at the company’s showroom.

With a line that spans from $2.95 to $17.95 per yard for indoor fabrics and $7.95 to $12.95 for outdoor fabrics, Vision Fabrics also offers a good-better-best story, thus appealing to a broad range of customers.

That said, company President and CEO Jim Ennis said it’s still a challenging time at retail, particularly given some of the still high inventory levels.

“It is difficult for them to get rid of what has been in the supply chain,” he noted, adding that some are still not “able to buy anything new. It think we are in it for the rest of the year.”

For that reason, he and others note that price remains a critical factor in the overall value equation for those in the market for new product.

“You have to have an entry level, and you have to be priced right,” he said, while also acknowledging the importance of style. “We are in a fashion business, so if it’s good, they’ll buy it.”

Mossy Meadows is one of the design and color palettes available from Nice Link.

But some also acknowledged the timing of the show just a few weeks after the April market was a challenge, particularly those with an already heavy travel schedule.

“The biggest complaint we have is that manufacturers are still following up with retailers from the last market,” said Doug Henderson, vice president of residential fabrics. “With retail being soft, it makes it a little tighter.”

Regardless, Henderson noted, not everyone is gravitating to the lowest prices. Instead they are looking for design and texture across multiple price points.

“People are still in love with super-soft fabrics,” he said, adding that price is not always the determining factor in what they order. “In the past, the promotional guys didn’t want to buy above $2. Now they are all looking for style more than price.”

R. Sackett Wood, chief executive officer of Moore & Giles, shows some of the colorful new leathers at the company’s showroom at Interwoven.

Color was also a key aspect of the palette, with a mix of blues, greens and russet tones. Texture and color also were part of the mix at various leather resources such as Moore & Giles. Its mix of new leathers ranged from highly polished and colorful aniline hides to new colors in its Nu Buck line featuring lightly buffed hides with a soft, velvetlike texture.

While the company said traffic felt a little lighter than normal because of heavy travel schedules, company officials appeared pleased with the show overall.

“We are not setting any records, but this is a good show,” said R. Sackett Wood, chief executive officer, noting that it gives customers a good foundation to see and choose what they like. “And we’ll edit down what we show here.”

These are some of the patterns available in the Revival performance fabric line by J. Allen Fabric.

With product coming from Italy, New Zealand, Germany, Thailand and India, the company has a vast mix that primarily spans price points ranging from $3 to $7 a yard, with some higher grade product priced slightly higher.

“We offer a value proposition, but the best leathers are more expensive,” he noted. “We are not defaulting to the lower price points.”

Speed to market was another part of the value equation resources touted, ranging from Revolution’s quick delivery in its Game Changer line to J. Allen Fabric’s domestically stocked Revive performance fabric line which includes six patterns and a total of 51 SKUs priced from $2.75 to $4.95 per yard. Soon to be available from its Los Angeles warehouse, it aims to ship within a couple of days from the time of order.

With retail being soft, the company believes the strategy will help separate it from the competition by providing customers with what they want and when they want it.

“We will be able to give them a variety of product,” said Bob Kyle, who handles sales for the Midwest territory. “In tough times, the only way to grow is to take market share from your competitors. That is what we are trying to do.”

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Seen at Interwoven May 2024 https://homenewsnow.com/blog/2024/05/10/seen-at-interwoven-may-2024/ https://homenewsnow.com/blog/2024/05/10/seen-at-interwoven-may-2024/#respond Fri, 10 May 2024 12:07:09 +0000 https://homenewsnow.com/?p=42996 Home News Now spent part of the week visiting fabric manufacturers and importers at the May 7-9 event in downtown High Point. As always, the …

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Home News Now spent part of the week visiting fabric manufacturers and importers at the May 7-9 event in downtown High Point. As always, the show offered a glimpse into some of the trends and designs that will make their way to the marketplace later in the year or early next year. Here are some of the people, fabrics and leathers we saw during the event to learn more about the business and fashion trends that will make their way onto upholstery frames and ultimately help drive traffic at retail.

This is a portion of Culp’s new designs introduced at market. The patterns offered a mix of textures, colors and patterns bearing various themes that add a story for the retail floor.

These are some of Sunbrella’s new offerings at Interwoven. They too cover a broad design palette, offering a mix of product for many different style preferences among today’s consumers.

Aamir Thobhani, of Innnotex Solutions USA of Brooklyn, New York, looks at some of the new fabric offerings at Richloom.

Bob Meloy, of Big House Fabrics in Minnesota, meets with Bob Gorman, vice president of sales and merchandising at PMT Fabrics, during the Interwoven show.

R. Sackett Wood, chief executive officer of Moore & Giles, shows some of the company’s new leather offerings at Interwoven.

Miron Yaghoubi, left, a partner and chief executive officer at J. Allen Fabric, looks over some of the new fabrics in the company’s Revive performance fabric line with Mike Willoughby, senior vice president, sales and marketing at J. Allen Fabric.

Waters Edge is one of eight new collections Nice Link introduced at Interwoven this week. The mix includes 60 patterns and a total of 600 SKUs representing the depth and breath of various colorways in the mix.

RM Coco showed its line at the fifth floor Pavilion area of Market Square. Its line includes “multipurpose solids, prints, wovens, embroideries and silks, plus performance and outdoor fabrics, sheers, decorative trimmings and hardware.”

Iwan Nassimi, executive vice president at Nassimi LLC, shows some of the new vegan leathers offered in the line. The mix includes commercial grade fabrics that offer both style and durability for residential uses.

Customers are seen speaking with officials at Z-Wovens , which showed a broad mix of indoor and outdoor fabrics available in its core Z-Wovens and Sunbelievable lines.

Valiant Fabrics also showed in the fifth floor Pavilions of Market Square. Here customers are seen gathering information on its latest fabric introductions.

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Dorel Industries reports 5.4% increase in Q1 revenue https://homenewsnow.com/blog/2024/05/10/dorel-industries-reports-5-4-increase-in-q1-revenue/ https://homenewsnow.com/blog/2024/05/10/dorel-industries-reports-5-4-increase-in-q1-revenue/#respond Fri, 10 May 2024 11:41:09 +0000 https://homenewsnow.com/?p=43064 Company also narrows net loss by $13.9 million, while also increasing its gross margin through lower freight and raw materials costs MONTREAL — Dorel Industries …

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Company also narrows net loss by $13.9 million, while also increasing its gross margin through lower freight and raw materials costs

MONTREAL — Dorel Industries reported a 5.4% increase in revenue for its first quarter ended March 31, while also narrowing its net loss.

The company said revenue totaled $351.1 million, up 5.4% from $333.2 million the same period last year. Its net loss for the quarter was $17.6 million, or 54 cents per share, down from a net loss of $31.5 million or 97 cents per share last year. It reported an adjusted net loss of $16.9 million, or 52 cents per share compared to $31.5 million, or 97 cents per share last year.

The company’s Home segment, which includes furniture sales, reported revenue of $138.4 million, up 3.9% from $133.2 million the same period last year.  The company noted that brick-and-mortar gross sales rose 23.3% from last year and that there was also an increase in replenishment orders as store inventories came down. Meanwhile, e-commerce gross sales decreased by 6.1%.

“The current high inflationary environment as well as an increase in U.S. mortgage rates continue to constrain consumer spending on home furnishings,” the quarterly report said, adding that “attendance was excellent at Dorel Home’s booth at the recent High Point furniture market with customers enthused about the segment’s new product lineup.”

Gross profits in the segment totaled $11.7 million, or 8.5% of revenue, compared to $1.9 million, or 1.4% of revenue last year.

The segment reported an adjusted operating loss of $3.4 million compared to $13.9 million last year.

The report noted that gross margin in the Home segment rose by 710 basis points from last year largely because of lower freight and raw material costs and “a slight increase in factory volumes which helped overhead absorption. Efficiencies have improved and operating costs have been reduced through the segment’s restructuring plan initiated in the fourth quarter of 2023. Inventories were down $27.8 million from a year ago.”

Revenue in the Dorel Juvenile segment totaled $212.7 million, compared to $200 million last year, a 6.3% increase. It noted that revenues increased 6.2% after removing the impact of various foreign exchange rates. The growth, the report noted, was mainly from the U.S. and European markets “where the brick-and-mortar distribution channel rebounded strongly.” Brazil and certain other export markets also contributed to the year-over-year increase in revenue.

In the U.S., car seats led increases in the segment, and “Safety 1st did particularly well, the result of new product placements and a recent rebranding of this iconic brand.”

The segment reported gross profits of $56.5 million, or 26.5% of revenue, compared with $44.8 million, or 22.4% of revenue last year. It reported adjusted operating profits of $1.1 million, compared to an adjusted operating loss of $8.9 million last year.

“The U.S. dollar strengthened against most major currencies since the start of the year and if it had remained at the levels at the end of 2023, this would have added an additional $2 million to earnings in the quarter,” the report said. It added that both Dorel Juvenile USA and Dorel Juvenile Europe significantly increased operating profit compared to the comparable period last year with gross margin for the segment being 410 basis points higher than the prior year.

“While a significant portion of the improvement was due to lower cost inventories to start the year, improved pricing, a better product mix and better cost absorption at the U.S. manufacturing facility also contributed to the quarter’s improvement,” the report said.

“Dorel Juvenile posted significant gains year-over-year, with adjusted operating profit improving by $10.1 million versus last year’s first quarter,” said Dorel President and CEO Martin Schwartz. “Internal optimism is high as the segment is capitalizing on its introduction of a diverse selection of exciting new products. Both our retail partners and consumers have reacted well to the new offerings, with in-store sales rebounding nicely, driving growth through market share gains.”

“Through a combination of higher sales and by further reducing Juvenile costs we are more comfortable than ever that this business will continue its year-over-year earnings improvement,” Schwartz added. “Dorel Home also made substantial progress during the first quarter, narrowing its adjusted operating loss by $10.5 million. This was despite on-going softness in the furniture market, where industry sales continue to lag all other consumer product categories. The previously announced plan to simplify and combine certain key areas of the Home segment has made the combined operations more effective and cost efficient. Savings are expected to be $4 million annually. Home is making all the right moves with new customers and new product listings growing. The meaningful benefits will come once industry volumes increase to more traditional levels.”

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Sunpan reports ‘busiest market in company history’ https://homenewsnow.com/blog/2024/05/02/sunpan-reports-busiest-market-in-company-history/ https://homenewsnow.com/blog/2024/05/02/sunpan-reports-busiest-market-in-company-history/#respond Thu, 02 May 2024 23:01:25 +0000 https://homenewsnow.com/?p=42813 HIGH POINT — Global furniture brand, Sunpan is celebrating the success of its busiest market in company history at the recently concluded spring show in …

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HIGH POINT — Global furniture brand, Sunpan is celebrating the success of its busiest market in company history at the recently concluded spring show in High Point, North Carolina.

The company said its showroom at Showplace 1200 witnessed significant foot traffic during the Spring High Point Market and noted that “increased attendance and a higher volume of orders signaled strong buyer intent and a confidence in the brand that comes on the back of the company’s newly opened U.S. warehouse in Houston, Texas.”  

Throughout the five-day event, Sunpan said its customers showed interest in its recently introduced sculptural lighting forms, and the “warm tones of its latest launches” in sofas, beds, lounge chairs and bar and counter stools. “The enthusiasm towards these new introductions and the higher order intake reflects Sunpan’s ability to consistently deliver on-trend designs that resonate with buyer preferences,” the company noted.  

Sunpan’s team seen at its showroom at Showplace 1200 during the April High Point Market. 

“It is immensely gratifying to see the growth of our brand over the last few years,” said Sundeep Bagga, president and chief executive officer of Sunpan. “Our persistent focus on offering high quality designs at an approachable price point coupled with top-tier customer experiences continues to deliver results.” 

The show also witnessed an uptick in orders of contract-viable designs that are ideal for commercial environments. Contract products continue to be a strong growth driver for the business.

Following the success of High Point Market, the company showed at the HD Expo in Las Vegas from April 30 to May 2 at the Mandalay Bay Convention Center in Las Vegas. Sunpan said will continue to exhibit at several shows through the remainder of this year including the summer Las Vegas Market, the October High Point Market, and BDNY in New York City. 

As business continues to evolve, Sunpan added that it remains “committed to its growth plans for 2024.” The company is adding new warehousing space and building a state-of-the-art photography studio at its headquarters in Toronto, Canada. It is also investing in new resources and is expanding its product, marketing, supply chain, accounting, and warehousing teams. 

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Nice Link to debut 8 new collections at Interwoven https://homenewsnow.com/blog/2024/04/29/nice-link-to-debut-8-new-collections-at-interwoven/ https://homenewsnow.com/blog/2024/04/29/nice-link-to-debut-8-new-collections-at-interwoven/#respond Mon, 29 Apr 2024 18:10:23 +0000 https://homenewsnow.com/?p=42591 HIGH POINT — Nice Link Home Furnishings, a provider of upholstery solutions in the furniture industry, will debut eight collections at the upcoming Interwoven, May …

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HIGH POINT — Nice Link Home Furnishings, a provider of upholstery solutions in the furniture industry, will debut eight collections at the upcoming Interwoven, May 7-9.

From its newly expanded showroom on the 10th floor of Market Square Textile Tower, Nice Link will debut eight curated color palettes, each designed and constructed to enhance interior spaces with a focus on contemporary design requirements and the versatility demanded by the modern lifestyle. Each fabric selection narrates a unique color story, synthesizing texture, hue and pattern to cater to diverse interior design schemes. The introduction of eight distinctive color palettes anticipates and sets trends for the coming seasons.

Linen Luxe: Celebrating serene neutrals, this collection evokes the comforting embrace of billowing clouds and sun-kissed sands. Shades of taupe and warm neutrals offer a canvas of tranquility, bridging light and shadow in a timeless dance.

Tropical Twist: With turquoise at its core, this vibrant palette captures the essence of tropical waters and fiery sunsets, igniting spaces with warmth and youthful exuberance.

Mossy Meadows: Bold and contemporary, this selection showcases the versatile energy of green, from acid to evergreen, complemented by linen and chestnut brown for a modern yet classic appeal.

Water’s Edge: An array of blues forms the heart of this palette, exuding sophistication. Linen and mushroom brown provide a tranquil backdrop, creating an accessible yet luxurious narrative.

Opulent Bouquet: Deep burgundy, olive green and teal converge to articulate a story of opulence, infusing spaces with depth, drama and sophistication.

Happy Harvest: Echoing the richness of autumn, this palette blends deep reds with golden neutrals and rustic oranges, embodying warmth and the essence of nature’s bounty.

Calm Solutions: Light gray and mushroom brown anchor this collection, fostering an atmosphere of peace and serenity, accented by linen shades for a grounding effect.

Serenity Grove: This tranquil assemblage marries spa blues with calming greens, enhanced by muted rust and golden tones, inviting a peaceful respite in every setting.

“Our newest fabric collections are a testament to our commitment to staying on top of home fashion and market trends as well as responding to the needs of our customers,” said Doug Henderson, vice president of residential upholstery fabrics at Nice Link. “We’ve woven together color, comfort and style to create fabrics that not only meet but exceed the expectations of discerning industry professionals.”

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