Ethan Allen (furniture company)
|Traded as||NYSE: ETH
S&P 600 Component
|Industry||Furniture and home interiors|
|Headquarters||Danbury, Connecticut, USA|
|Farooq Kathwari, President, Chairman and CEO|
|Revenue||US$ 763.38 million (2017)|
|US$ 57.95 million (2017)|
|US$ 36.19 million (2017)|
|Total assets||US$ 568.22 million (2017)|
Number of employees
|Subsidiaries||Ethan Allen Global, Inc.|
Ethan Allen Interiors Inc. is an American furniture chain with more than 300 stores across the United States, Canada, Europe, Asia, and the Middle East. It was founded in 1932 by two brothers-in-law, Nathan S. Ancell and Theodore Baumritter.
Ethan Allen has about 300 Design Centers and Studios domestically and abroad, 9 manufacturing facilities, 14 retail service centers, and sales of $763.4 million located across the United States in 2017. It is one of the largest furniture companies in the United States.
The company makes customized furniture domestically (Maiden, NC), such as upholstered furniture, sofas, and chairs, custom made in a selected fabric. Overall domestic manufacturing of Ethan Allen products stands at 65% with goals to raise this to 70% with the release of the new American Artisan line.
The company was started as a housewares manufacturer in 1932, then bought a bankrupt furniture factory in Beecher Falls, Vermont, in 1936. The firm adopted the name "Ethan Allen" for its early-American furniture introduced in 1939. It was named after the Vermont Revolutionary leader.
In 1972, Ethan Allen moved its headquarters from New York City to Danbury, Connecticut. The Ethan Allen International Headquarters Complex includes the Ethan Allen Hotel, corporate headquarters offices, and an interior design center. 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 headed by current Chairman, President, and CEO Farooq Kathwari. In 1993, the company went public to help raise $156.9 million through the sale of common stock.
In 2004, Ethan Allen closed its Boonville, New York, plant, laying off 250. It also closed its Bridgewater, Virginia, plant, also laying off 250.
In 2008, the company announced plans to close a dozen Design Centers. The decision was made to consolidate the Design Centers with others that were currently serving the same market area.
In 2009, the company laid off 238 workers from Beecher Falls, Vermont. 93 workers remained. Later in the year, the plant ceased operation. In 2009, Ethan Allen closed the Eldred, PA manufacturing plant.
Current manufacturing plants
- Orleans, Vermont
- Silao, Guanajuato, Mexico
- Passaic, New Jersey
- Old Fort, North Carolina
- Maiden, North Carolina
Former manufacturing plants
- Boonville, New York
- Bridgewater, Virginia
- Chino, California
- Dublin, Virginia
- Eldred, Pennsylvania
- Union City, Pennsylvania
- Andover, Maine
- Atoka, Oklahoma
- Beecher Falls, Vermont
- Dudley, Massachusetts
- Randolph, Vermont
- "Ethan Allen: Company Description". Hoover's. Retrieved 2008-12-06.
- "Ethan Allen Opens a Second Store in the U.K". Business Wire. Retrieved 2009-06-18.
- "Ethan Allen launches contract furniture division". Furniture Today. Retrieved 2009-02-12.
- "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.
- "Hotel | Danbury CT | Ethan Allen Hotel - Danbury CT". Ethan Allen Hotel. Retrieved 2012-09-23.
- Engel, Clint (2008-01-10). "Ethan Allen to close 12 stores". Furniture Today. Retrieved 2008-01-10.
- "decorating ideas | modern, traditional, casual furniture | free interior design". ethanallen.com. Retrieved 2012-09-23.
- Burlington Free Press, June 26, 2009, page 1A, "Ethan Allen lays off 238 ion Kingdom," Wilson Ring
- Occaso, Carla (2006-07-14). "New power plant helps Ethan Allen factory". Barre Montpelier Times Argus (Vermont). Retrieved 2008-12-06.
- "Ethan Allen buys factory in Mexico". Furniture Today. 2007-11-05. Retrieved 2008-01-10.
- "Ethan Allen registers all U.S. plants for EFEC environmental program". Furniture Today. 2012-08-13. Retrieved 2013-05-24.
- "Ethan Allen closing Eldred, Pa., upholstery plant". Furniture Today. 2009-01-07. Retrieved 2013-05-24.
- "Owner of former Ethan Allen plant in Union City sues borough, fire department". GoErie / Erie Times-News. 2011-10-24. Retrieved 2013-05-24.