Ethan Allen (company)

Ethan Allen Interiors Inc. is an American furniture chain with about 300 stores across the United States, Canada, Europe, and Asia.[2] It was founded in 1932 by two brothers-in-law, Nathan S. Ancell and Theodore Baumritter.

Ethan Allen Interiors Inc.
Public
Traded asNYSE: ETH
S&P 600 Component
IndustryFurniture and home interiors
Founded1932
FounderNathan S. Ancell
Theodore Baumritter
HeadquartersDanbury, Connecticut, USA
Key people
Farooq Kathwari, President, Chairman and CEO
Revenue US$ 746.68 million (2019)
US$ 33.95 million (2019)
US$ 25.7 million (2019)
Total assets US$ 510.35 million (2019)
Total equity US$ 363.93 million (2019)
Number of employees
4,700 (2019)[1]
SubsidiariesEthan Allen Global, Inc.
Websitewww.ethanallen.com
Ethan Allen store, Ann Arbor, MI

Operations

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.[3] It is one of the largest furniture companies in the United States.[4]

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.[5]

History

The company was started as a housewares manufacturer in 1932, then bought a bankrupt furniture factory in Beecher Falls, Vermont, in 1936. [6][7] The firm adopted the name "Ethan Allen" for its early-American furniture introduced in 1939, after the Vermont Revolutionary leader Ethan Allen.

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,[8] corporate headquarters offices, and an interior design center. The firm was sold in 1980 to Interco for $150 million, with Ancell remaining as 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 two plants in Boonville, NY & Bridgewater, VA, laying off 250 each.

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.[9]

More than seventy percent of its cherry, maple, and alder wood pieces are crafted in the United States. Towards the end of 2008, Ethan Allen began selling their products online.[10]

In 2009, the company laid off 238 workers from Beecher Falls, Vermont; 93 workers remained.[11] In 2009, Ethan Allen closed the Eldred, PA manufacturing plant.[12]

Manufacturing plants

Current manufacturing plants

Former manufacturing plants

References
  1. http://www.sec.gov/Archives/edgar/data/896156/000143774919016263/eth20190630_10k.htm
  2. http://finance.yahoo.com/quote/ETH/profile?p=ETH
  3. "Ethan Allen launches contract furniture division". Furniture Today. Retrieved 2009-02-12.
  4. "Sales of the leading 25 furniture and bedding retailers in the United States in 2016 (in million U.S. dollars)". Statista.
  6. "Obituary: Nathan S. Ancell". Columbia College Today. September 1999. Retrieved 2008-12-06.
  7. "Company History: Ethan Allen Interiors, Inc". International Directory of Company Histories. Retrieved 2008-12-06.
  8. "Hotel | Danbury CT | Ethan Allen Hotel - Danbury CT". Ethan Allen Hotel. Retrieved 2012-09-23.
  9. Engel, Clint (2008-01-10). "Ethan Allen to close 12 stores". Furniture Today. Archived from the original on 2008-12-05. Retrieved 2008-01-10.
  10. "decorating ideas | modern, traditional, casual furniture | free interior design". ethanallen.com. Retrieved 2012-09-23.
  11. Ring, Wilson (2009-06-25). "Ethan Allen laying off about 260 in Beecher Falls". Boston.com. Retrieved 2018-03-30.
  12. "Ethan Allen closing Eldred, Pa., upholstery plant". Furniture Today. 2009-01-07. Retrieved 2013-05-24.
  13. Occaso, Carla (2006-07-14). "New power plant helps Ethan Allen factory". Barue Montpelier Times Argus (Vermont). Retrieved 2008-12-06.
  14. "Ethan Allen buys factory in Mexico". Furniture Today. 2007-11-05. Retrieved 2008-01-10.
  15. "Ethan Allen registers all U.S. plants for EFEC environmental program". Furniture Today. 2012-08-13. Retrieved 2013-05-24.
  16. "Owner of former Ethan Allen plant in Union City sues borough, fire department". GoErie / Erie Times-News. 2011-10-24. Retrieved 2013-05-24.


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