Ethan Allen

#5245

Rank

$709.98M

MarketCap US

US United States

Country

Summary
Ethan Allen Interiors Inc. operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery items comprising sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings. The company markets and sells its products under the Ethan Allen brand through home furnishing retail networks and independent retailers, as well as through ethanallen.com website. As of June 30, 2022, it operated a network of approximately 141 design centers. Ethan Allen Interiors Inc. was founded in 1932 and is headquartered in Danbury, Connecticut.

History

The company was started as a housewares manufacturer in 1932 by Theodore Baumritter and his brother-in-law Nathan S. Ancell. They bought a bankrupt furniture factory in Beecher Falls, Vermont, in 1936 and 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, 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, New York and Bridgewater, Virginia, 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.In 2009, the company laid off 238 workers from Beecher Falls, Vermont; 93 workers remained.

In 2009, Ethan Allen closed the Eldred, PA manufacturing plant.In 2021, during the 2021 cryptocurrency boom, the company's stock price increased as investors confused the company's stock with Ethereum, which shares the same ticker symbol.


Mission
Our mission is to be the pre-eminent interior design-driven home furnishings business, to capture life's inspirations and to deliver timeless, quality furniture and accessories to design-oriented customers.

Vision
Our vision is to make Ethan Allen the first choice in home furnishings for those who appreciate exceptional quality, timeless design, superior craftsmanship, and outstanding customer service.

Key Team

Ms. Amy Franks (Exec. VP of Retail Network & Bus. Devel.)

Ashley Fothergill (Sr. VP of Merchandising)

Mr. Rodney A. Hutton (Chief Marketing Officer)

Ms. Kathy Bliss (Sr. VP of Retail Division)

Brynne Duncan (Sr. VP of Manufacturing & Contract Bus.)

Daniel Edinger (Sr. VP of Retail)

Mr. Clifford Thorn (VP of Upholstery Manufacturing)


Recognition and Awards
Ethan Allen has won numerous awards for excellence in design, customer service, and environmental stewardship, including Time Magazine's Quality Service Award and the Environmental Protection Agency's Energy Star Award.

References
Ethan Allen
Leadership team

Mr. M. Farooq Kathwari (Chairman, Pres & CEO)

Mr. Matthew J. McNulty (CFO, Sr. VP & Treasurer)

Mr. Eric D. Koster (VP, Gen. Counsel & Sec.)

Products/ Services
Manufacturing, Retail
Number of Employees
1,000 - 20,000
Headquarters
Danbury, Connecticut, United States
Established
1932
Company Registration
SEC CIK number: 0000896156
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
ETD
Social Media
Thu Feb 29 2024
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