Young's challenge: Bring Drexel through changes
By Brian Carroll -- Furniture Today, April 14, 2002
DREXEL, N.C. — DREXEL, N.C. — Jeff Young takes over at Drexel Heritage at a time of tumultuous change, both in the company and in the industry.
Named the high-end manufacturer's president and chief executive officer last week, Young brings 30 years of industry experience, most of those with his family's former business, Lexington Furniture.
Young learned at Lexington how to blend offshore and U.S.-made product, then market it under brand names consumers recognize. That strategy took Lexington to its heights.
At Drexel Heritage, Young plans to combine domestic and imported again, this time with the considerable resources of Furniture Brands International and Outlook International, FBI's offshore sourcing partner. Furniture Brands acquired Drexel Heritage, along with Henredon and Maitland-Smith, from LifeStyle Furnishings International late last year.
"We will very soon have a greater presence over there," in Asian-sourced product, Young said. "We will do all we can to keep the case goods plants we have, but we will definitely have a presence on the other side."
More staff in Asia and a reduction in the number of sources Drexel works with are among the possible changes.
The company's remaining U.S. case goods plants are in Hildebran and Marion, N.C. It is in the process of closing the original, nearly 100-year-old plant here in its hometown. Closing the factory was one of the last and most difficult decisions the previous president and CEO, Dan Grow, said he had to make.
Grow, who held the top job since 1993, said he has no immediate plans but intends to "stay active pursuing new interests in the furniture industry."
A veteran of battling hostile union organization efforts and surviving plant fires and changes in corporate ownership, Grow said he wanted to "thank the people at Drexel, both past and present, for their loyal support. I just wish them nothing but great success in the future."
Grow also wished Young "all the best," adding that he has known Young for years. The two took the top jobs at their respective companies, then both owned by Masco, in 1993.
As for Drexel's remaining domestic production, Young said it can be an advantage to have "an anchor in manufacturing here. I still think there are things we can make in case goods in this country that cannot be made elsewhere."
Given Young's long affiliation with Lexington, he said some might wrongly anticipate changes in Drexel Heritage's distribution strategy.
"We are not going to make radical changes to distribution," he said. "We believe very strongly, as did Furniture Brands International when it acquired Drexel Heritage, that given the proper assortment of competitive products coupled with the continued presence of its nationally advertised brand name, dedicated Drexel stores and galleries will once again become a real force."
Drexel Heritage is upgrading its store program, which now numbers 33 units.
Young said he was reluctant to articulate a vision and a strategy for the company until he has a chance to study its strengths and weaknesses. Major changes were not expected before market.
Young also said he wanted to thank the leadership Drexel has had in the past, which he said "successfully established and cultivated one of our industry's few, genuine consumer brand names."
Senior Retail Editor Clint Engel contributed to this story.
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