Furniture: Strong Sales, New Licensed Lines
The furniture industry faced vexing issues as it returned this week for High Point Market’s Fall Market that featured several additions to the lines of licensed products.
While consumer demand continues to increase for home furnishings, the well documented supply chain issues has left suppliers and retailers with months of back orders.
Sales at furniture and home furnishings retailers rose 32% through September to $107 billion, with sales in September up slightly ($12.93 billion) from the previous month ($12.56 billion), according to the U.S. Department of Commerce.
And La-Z-Boy, which recently licensed Soft-Tex for bed pillows, mattress toppers and other products, reported an 84% increase in revenue a record $525 million in the first quarter ended July 24. The record sales came as the company prepared to impose its fifth round of price increases since last October to help offset rising materials and shopping costs, CEO Melinda Whittington said. At the same time, La-Z-Boy also is faced with a seven-month backlog of customer orders.
Despite the challenges, show goers at the fall market were focused on new introductions, including several that were part of brand licensing deals:
- Retailer West Elm Kids launched a collaboration with Netflix for an exclusive home collection inspired by children’s TV series “Ada Twist, Scientist,” which launched Sept. 28. The show is adapted from the popular Questioneers series chapter book that follows the 8-year-old Ada as a pint-sized scientist. The resulting 10-piece assortment includes an Ada-shaped pillow, wallpaper, a desk caddy, wall hooks, bookends and other products. The line is being paired with a virtual event (Nov. 6) and a chance to win a $500 West Elm gift card or 12-month Netflix subscription.
- Stacy Garcia licensee Mohawk Industries introduced a 12-piece area rug collection ($649-$1,299) under its Karastan label exclusively at Nebraska Furniture last month. Garcia previously sold a licensed rug line under an agreement with QVC. Meanwhile, the New York designer’s brand expanded into pillows and throws in a licensing deal with LR Home that builds on a previous furniture agreement with Klaussner Home Furnishings.
- Whalen Furniture launched 60 new designs under the Scott Living brand across bathroom vanities, closets and garage storage as part of licensing agreement with HGTV’s “Property Brothers” stars Drew and Jonathan Scott. The brothers also have licensed Hooker Furnishings and Pulaski Furniture under the Drew and Jonathan Home brand.
- Digging deeper into HGTV programming, furniture supplier Vaughn-Bassett is readying a “Passageways” bedroom collection as part of a licensing deal with “Home Town” stars Erin and Ben Napier.
- Idle Group expects to have its “The Country Living Welcome Home Collection” of mattresses available by year-end through 500 stores across Idaho, Michigan, Ohio, Wisconsin, North Dakota, Georgia and Nevada. It introduced the line online in January. Idle signed a licensing deal with Hearst Magazines in 2020 that also includes the House Beautiful, Men’s Health and Woman’s Health brands.