Ethan Allen (company)
 | |
| Company type | Public (NYSE: ETH) |
|---|---|
| Industry | Furniture and home interiors |
| Founded | 1932 |
| Headquarters | Danbury, CT |
Key people | Farooq Kathwari, President, Chairman and CEO |
| Revenue | 980 million(2008) |
| $96 million (2008) | |
| $58.1 million (2008) | |
Number of employees | 5800 (2005) |
| Website | www.ethanallen.com |
Ethan Allen Interiors, Inc. (NYSE: ETH) is a North American furniture chain with almost 300 stores across the United States and Canada.[1] It was founded in 1932 by Nathan S. Ancell and Theodore Baumritter.
History
The company was started as a housewares manufacturer in 1932, then bought a bankrupt furniture factory in Beecher Falls, Vermont in 1936.[2][3]
The firm adopted the name "Ethan Allen" for its early-American furniture introduced in 1939. It was named after the Vermont Revolutionary leader. The firm was sold in 1980 to Interco for $150 million, though Ancell remained an advisor. The company was sold again in 1989 to a management group.
Today, Ethan Allen has 295 stores, 7 manufacturing plants, and sales of $980 million located across the United States.[4] It is one of the largest furniture companies in the United States. In 2008, the company announced plans to close a dozen stores.[5] According to the company's product literature, more than seventy percent of its cherry, maple and alder wood pieces are crafted in the United States.[citation needed]
According to a statement by M. Farooq Kathwari, "more customized furniture is made in the United States. For instance, upholstered furniture such as sofas and chairs, which is made custom in a selected fabric, is made in the United States. On the other hand, we have a lot of wood resources in the United States, but 70 percent of our wood furniture is now made overseas even though countries such as China and the Philippines have to import the wood. Because of their labor, and also the technology they have added, this furniture is made overseas.Cite error: A <ref> tag is missing the closing </ref> (see the help page).
- Silao, Guanajuato, Mexico[7]
Notes
- ^ "Ethan Allen: Company Description". Hoover's. Retrieved 2008-12-06.
- ^ "Obituary: Nathan S. Ancell". Columbia College Today. September 1999. Retrieved 2008-12-06.
- ^ "Company History: Ethan Allen Interiors, Inc". International Directory of Company Histories. Retrieved 2008-12-06.
- ^ Ethan Allen Annual Report 2007
- ^ Engel, Clint (2008-01-10). "Ethan Allen to close 12 stores". Furniture Today. Retrieved 2008-01-10.
- ^ Cite error: The named reference
vtwoodnetwas invoked but never defined (see the help page). - ^ "Ethan Allen buys factory in Mexico". Furniture Today. 2007-11-05. Retrieved 2008-01-10.