1990s and beyond - Martinsville-Henry County Virginia · A.C. Furniture Company, Inc. in Axton has...
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1991 American of Martinsville exits the residential furniture market to concentrate solely on hospitality, contract and institutional businesses. 1993 Bassett opens its 200th Bassett Furniture Gallery in New Bedford, Mass. 1997 J. Clyde Hooker, Jr. is inducted into the American Furniture Hall of Fame. 1999 Hooker and Stanley Furniture celebrate their 75th anniversary, which included a fireworks display at the Martinsville Speedway on July 4th. 2000 American of Martinsville and LADD Furniture were acquired by La-Z-Boy and became part of one of the world’s leading furniture producers with annual sales in excess of $2 billion. 2003 Hooker purchases Bradington-Young, a specialist in reclining chairs and upscale leather seating, which complimented Hooker’s strength in home entertainment furniture. 2004 Shenandoah Furniture announced a $1.2 million expansion, which will nearly double its Patriot Centre plant. Shenandoah Furniture produces a stylized line of sofas and chairs primarily for private label companies. Crate and Barrel, Room & Board and Design Within Reach are among its customers. 2006 American of Martinsville celebrates its 100th anniversary. This same year, American is purchased by Hancock Park Associates, a large private equity investment firm based in Los Angeles which invests in entrepreneurial, niche-oriented companies. 2007 In January, Hooker Furniture announced it would close its last remaining wood furniture plant. The site had been in operation since 1924 and most recently made bedroom and home entertainment furniture. Hooker’s business model now focuses on marketing, logistics and global sourcing for wood and metal furniture. 2007 Hooker Furniture further diversifies into the fabric upholstery business with its purchase of Sam Moore, a Bedford, Va.- based manufacturer of upscale occasional chairs. With this acquisition and the earlier Bradington- Young purchase, Hooker Furniture is expected to create approximately $100 million in annual upholstery sales for the company. 2008 A.C. Furniture Company, Inc. in Axton has annual revenues of approximately $55 million. The company builds and ships over 10,000 pieces of furniture weekly. 2008 Shenandoah Furniture received a great response to their new items shown at the High Point Furniture Market. They introduced an expansive, European inspired sectional with a low profile and multiple configura- tions. Also featured was a curved sectional on tall tapered legs, reflective of the styles of the 1950s and 60s. 2008 Bassett Furniture reports $288 million in sales. Hooker Furniture has $316 million in sales. Stanley Furniture has $226 million in annual sales. Acknowledgments A special thanks to the following individuals and organizations for providing information to chronicle 100 years of furniture- making in Martinsville-Henry County: American of Martinsville Bassett Furniture Bassett Historical Society Carl deHart, City Archivist Hooker Furniture Desmond Kendrick, Archivist Martinsville-Henry County Historical Museum Stanley Furniture 1990s and beyond American of Martinsville celebrates its 100th anniversary. Front Page News: Bedford Bulletin announces that Hooker Furniture is purchasing Sam Moore. Furnishing a Nation: The story of furniture making in Martinsville-Henry County It was through ingenuity and perseverance that the area’s furniture industry was founded over 100 years ago. Martinsville- Henry County furnished a nation and still does. While companies have changed their marketing strategies and product lines over time, furniture is still solidly rooted in Martinsville- Henry County. later, Basset Furniture boasts annual sales of over $300 million, 135 retail stores nationwide, and employs more than 700 people locally. Last year, Bassett launched a John Elway Home Entertainment Collection and its products have been featured on ESPN networks. It’s easy to see why business works in Martinsville-Henry County. still Furniture works here. v In 1924, a young man named Thomas Bahnson Stanley realized a long-held dream when he founded Stanley Furniture Company. Today, Stanley Furniture is one of the largest furniture manufacturers in the United States, and the largest employer in Martinsville- Henry County. The company’s manufacturing facilities boast more than 3.2 million square feet, located in Stanleytown and Martinsville, Virginia, as well as Robbinsville and Lexington, North Carolina. Combine that with Stanley’s eleven Pinnacle Awards for design excellence, and it’s easy to see why business works in Martinsville-Henry County. speed to market.™ still Furniture works here. v One of American of Martinsville’s new casegoods for the hospitality industry—a HDTV Cabinet Base with two drawers. After significant consumer research, the first Bassett Furniture Direct store opened in 1997. The new store environment changed the way furniture is sold today. According to the Martinsville Bulletin, 28,000 people attended the 75th anniversary celebration of Hooker Furniture and Stanley Furniture at the Martinsville Speedway. The North Hampton home office furniture line by Hooker Furniture. The Martinsville-Henry County Office of Economic Development created local ads in 2007 that celebrated furniture being made in the area.
Transcript of 1990s and beyond - Martinsville-Henry County Virginia · A.C. Furniture Company, Inc. in Axton has...
1991American of Martinsvilleexits the residential furniture market to concentrate solely onhospitality, contract andinstitutional businesses.
1993Bassett opens its 200thBassett Furniture Galleryin New Bedford, Mass.
1997J. Clyde Hooker, Jr. is inducted into the AmericanFurniture Hall of Fame.
1999Hooker and Stanley Furniture celebrate their75th anniversary, whichincluded a fireworks display at the MartinsvilleSpeedway on July 4th.
2000 American of Martinsvilleand LADD Furniture wereacquired by La-Z-Boy andbecame part of one of theworld’s leading furnitureproducers with annualsales in excess of $2 billion.
2003 Hooker purchases Bradington-Young, a specialist in recliningchairs and upscaleleather seating, whichcomplimented Hooker’sstrength in home entertainment furniture.
2004Shenandoah Furnitureannounced a $1.2 millionexpansion, which willnearly double its PatriotCentre plant. ShenandoahFurniture produces a stylized line of sofas andchairs primarily for privatelabel companies. Crateand Barrel, Room & Boardand Design Within Reachare among its customers.
2006 American of Martinsvillecelebrates its 100th anniversary. This same year,American is purchased byHancock Park Associates,a large private equity investment firm based inLos Angeles which investsin entrepreneurial, niche-oriented companies.
2007In January, Hooker Furniture announced it would close its last remaining wood furnitureplant. The site had beenin operation since 1924and most recently madebedroom and home entertainment furniture.Hooker’s business modelnow focuses on marketing,logistics and global sourcing for wood andmetal furniture.
2007 Hooker Furniture further diversifies into thefabric upholstery businesswith its purchase of SamMoore, a Bedford, Va.-based manufacturer ofupscale occasional chairs.With this acquisition andthe earlier Bradington-Young purchase, HookerFurniture is expected to create approximately$100 million in annualupholstery sales for thecompany.
2008A.C. Furniture Company,Inc. in Axton has annualrevenues of approximately$55 million. The companybuilds and ships over10,000 pieces of furnitureweekly.
2008Shenandoah Furniturereceived a great responseto their new items shown at the High PointFurniture Market. Theyintroduced an expansive,European inspired sectional with a low profileand multiple configura-tions. Also featured was acurved sectional on talltapered legs, reflective ofthe styles of the 1950sand 60s.
2008 Bassett Furniture reports$288 million in sales.Hooker Furniture has$316 million in sales.Stanley Furniture has $226million in annual sales.
AcknowledgmentsA special thanks to the followingindividuals and organizations for providing information tochronicle 100 years of furniture-making in Martinsville-HenryCounty:
American of MartinsvilleBassett FurnitureBassett Historical SocietyCarl deHart, City ArchivistHooker FurnitureDesmond Kendrick, ArchivistMartinsville-Henry County
Historical MuseumStanley Furniture
1 9 9 0 s and beyond
American ofMartinsvillecelebratesits 100th anniversary.
Front Page News: Bedford Bulletinannounces that Hooker Furniture is purchasing Sam Moore.
Furnishing a Nation: The story of furniture making in Martinsville-Henry County
It was through ingenuity and perseverance that the area’s furniture industry was founded over 100 years ago.Martinsville-Henry County furnished a nation and still does. While companies have changed their marketing strategies and product lines over time, furniture is still solidly rooted in Martinsville-Henry County.
For more than 100 years, Bassett Furniture has called Martinsville-Henry County home. The furniture company first began as a
sawmill on the Bassett family farm in the late 1800s—making railroad ties for the new Norfolk & Western line. More than a century
later, Basset Furniture boasts annual sales of over $300 million, 135 retail stores nationwide, and employs more than
700 people locally. Last year, Bassett launched a John Elway Home Entertainment Collection and its products have
been featured on ESPN networks. It’s easy to see why business works in Martinsville-Henry County. speed to market.™
stillFurniture works here.
v
In 1924, a young man named Thomas Bahnson Stanley realized a long-held dream when he founded Stanley Furniture Company.
Today, Stanley Furniture is one of the largest furniture manufacturers in the United States, and the largest employer in Martinsville-
Henry County. The company’s manufacturing facilities boast more than 3.2 million square feet, located in Stanleytown
and Martinsville, Virginia, as well as Robbinsville and Lexington, North Carolina. Combine that with Stanley’s eleven
Pinnacle Awards for design excellence, and it’s easy to see why business works in Martinsville-Henry County. speed to market.™
stillFurniture works here.
v
One of American of Martinsville’snew casegoods forthe hospitality industry—a HDTVCabinet Base withtwo drawers.
After significant consumer research, the firstBassett Furniture Direct store opened in1997. The new store environment changedthe way furniture is sold today.
According to the Martinsville Bulletin, 28,000 people attended the75th anniversary celebration ofHooker Furnitureand Stanley Furniture at theMartinsville Speedway.
The North Hamptonhome office furniture line by Hooker Furniture.
The Martinsville-Henry County Office ofEconomic Development created local ads in 2007 that celebrated furniture beingmade in the area.
