Thursday, November 30, 2023
Closure of stores business boosts adjustable furniture group
The carve-up of the adjustable furniture retail group that until earlier this year traded as Middletons and Oak Tree Mobility has led to improved profitability and a better-equipped platform for growth, its owner has said.
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Worcester company told to change name after objection from La-Z-Boy Manufacturing U.K.
A Worcester company incorporated at the turn of the year has been formally told to change its name at the behest of La-Z-Boy Manufacturing U.K., the Lancashire manufacturing arm of U.S. upholstered furniture brand La-Z-Boy.
Deal value disclosed for furniture importer's acquisition of Westex factory
Victoria sold 175,000sqft former Westex carpets factory last year, but sale price hadn't previously been disclosed.
Flooring buyers face tight schedule as German shows go head-to-head
Flooring trade buyers looking to comprehensively scour the market for new products face a tight January schedule with two major concurrent international events each saying they will host a wide array of exhibitors.
Designer furniture retailer Bolia records first loss in 14 years
Bolia, the modern upholstery, cabinet and accents retail brand that has been present in the U.K. market since 2016, has reported its first loss in 14 years.
Executive chairman addresses concerns after major Victoria shareholder exits board
The executive chairman of Victoria has moved to reassure investors regarding the resignation from the board last week of the co-founder of one of the flooring group's largest shareholders.
Italian upholstery group brings Sofitalia brand back to U.K. market
Incanto Group, once one of the largest upholstery suppliers to the U.K. market, will bring its Sofitalia brand back to these shores for the first time in ten years in early 2024.
ScS hires new chief marketing and digital officer
Upholstery and flooring retailer ScS has appointed Phil Geary as chief marketing and digital officer, filling a post vacated earlier this month after Kyle Rowe took a new position elsewhere.
Dreams strikes partnership with X Rocker gaming furniture brand
Beds market leader Dreams has launched a programme of beds and bedroom furniture in partnership with X Rocker, the global gaming furniture brand.
Next brings Made footprint to 10 stores as new monobrand unit opens
The rebuild of Made.com took another leap forward this weekend after brand owner Next launched the first standalone store for the furniture retailer banner under its stewardship.
Revenue falls for upstream sofa supply chain bellwether
Output declined double-digit through 2022/23 for Flameproofings, a market leader in the supply of flame retardant fabric coatings for the upholstered furniture industry.
INTELLIGENCE
Market Data
Detailed market information about each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors at suppliers' prices.
Discover the up-to-date value of:
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UK production
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BEST READ IN THE PAST MONTH
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Neptune recovers from big loss to return to profit under new management
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Fridge magnate takes controlling stake in Chinese sofa group in £1.16bn deal
The scion of a Chinese domestic appliance conglomerate is to acquire a controlling stake in Jason Furniture (Hangzhou) Co, one of the world's largest upholstery producers and a major white-label...
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RH invested another £22m in U.K in year before opening first gallery
High-end furniture retailer RH pumped tens of millions more pounds into its U.K. operation through capital expenditure in the year leading up to the opening of its first gallery here earlier this...
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North West sofa maker pays off debt amid continued gains
The Manchester upholstered furniture manufacturer behind brands including The English Sofa Company and The Chesterfield Company paid down debt last year as it continued to register six-figure profits.
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Midlands bed maker plans relaunch of historic Dorlux brand
Dorlux, the 104-year-old bed brand that has been largely absent from the U.K. market for most of the past decade, is set to return.
INTELLIGENCE
Retail Sales
Up-to-date monthly UK retail sales data spanning total furniture and lighting sales PLUS detailed breakdowns for each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors.
Proprietary granular data covering:
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UK retail sales value and y/y delta. Monthly and annual
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DATA & LISTS
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Background: South Wales recliner buyout looks shrewd move
The pandemic proved a tough trading period for the adjustable furniture group behind the Oak Tree Mobility and Middletons brands, but the 2021 buyout of a South Wales recliner maker was a prudent move and has already practically paid for itself. [Premium]
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Bloated balance sheets: Kettle Interiors was the canary in the coal mine
The insolvent restructure of Kettle Interiors U.K. in the spring was indicative of a furniture industry laden with either too much stock or with inventory levels that would prove to be over-valued. [Premium]
TOP STORIES
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Closure of stores business boosts adjustable furniture group
The carve-up of the adjustable furniture retail group that until earlier this year traded as Middletons and Oak Tree Mobility has led to improved profitability and a better-equipped platform for growth, its owner has said.
-
World's largest IKEA retailer books five-fold profits rise to €1.5bn
Ingka Group, the largest worldwide IKEA retailer, saw profits climb five-fold in the year to end August. The proceeds will be reinvested, shared with its employees, and go towards charitable endeavours, the company said.
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Two-store London furniture retailer stops taking orders as £5m investment sours
Restructuring advisors have been called in at Vivense London, a two-store furniture, lighting and homeware retailer that arrived in the U.K. amid multi-million pound investment during the pandemic.
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Natuzzi CEO pinpoints others assets sofa maker may consider selling
The chief executive of Natuzzi has detailed other assets that the Italian sofa maker and retailer might consider selling to raise cash, in addition to its iconic High Point building.
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Furniture makers are now more pessimistic, finds BFM poll
Optimism among furniture makers about the trading environment has faded according to an updated poll of its members by the trade association British Furniture Manufacturers (BFM).
OTHER NEWS
Background: South Wales recliner buyout looks shrewd move
The pandemic proved a tough trading period for the adjustable furniture group behind the Oak Tree Mobility and Middletons brands, but the 2021 buyout of a South Wales recliner maker was a prudent move and has already practically paid for itself. [Premium]
Worcester company told to change name after objection from La-Z-Boy Manufacturing U.K.
A Worcester company incorporated at the turn of the year has been formally told to change its name at the behest of La-Z-Boy Manufacturing U.K., the Lancashire manufacturing arm of U.S. upholstered furniture brand La-Z-Boy.
Bloated balance sheets: Kettle Interiors was the canary in the coal mine
The insolvent restructure of Kettle Interiors U.K. in the spring was indicative of a furniture industry laden with either too much stock or with inventory levels that would prove to be over-valued. [Premium]
Deal value disclosed for furniture importer's acquisition of Westex factory
Victoria sold 175,000sqft former Westex carpets factory last year, but sale price hadn't previously been disclosed.
Flooring buyers face tight schedule as German shows go head-to-head
Flooring trade buyers looking to comprehensively scour the market for new products face a tight January schedule with two major concurrent international events each saying they will host a wide array of exhibitors.
Designer furniture retailer Bolia records first loss in 14 years
Bolia, the modern upholstery, cabinet and accents retail brand that has been present in the U.K. market since 2016, has reported its first loss in 14 years.
Executive chairman addresses concerns after major Victoria shareholder exits board
The executive chairman of Victoria has moved to reassure investors regarding the resignation from the board last week of the co-founder of one of the flooring group's largest shareholders.
Italian upholstery group brings Sofitalia brand back to U.K. market
Incanto Group, once one of the largest upholstery suppliers to the U.K. market, will bring its Sofitalia brand back to these shores for the first time in ten years in early 2024.
ScS hires new chief marketing and digital officer
Upholstery and flooring retailer ScS has appointed Phil Geary as chief marketing and digital officer, filling a post vacated earlier this month after Kyle Rowe took a new position elsewhere.
Dreams strikes partnership with X Rocker gaming furniture brand
Beds market leader Dreams has launched a programme of beds and bedroom furniture in partnership with X Rocker, the global gaming furniture brand.