P/Kaufmann to purchase Clarence House
By Carole Sloan -- Furniture Today, March 17, 2002
NEW YORK — P/Kaufmann Inc. has agreed in principal to acquire Clarence House, a leader in the high-end decorative fabric business.
"We are still finalizing the agreement and expect to finish in 30 to 45 days," said Ron Kaufmann, president of P/Kaufmann, one of the Big Three decorative fabric converters along with Richloom and Covington.
Robin Roberts, Clarence House founder and owner, "absolutely will stay on," Kaufmann said. "He will continue to be responsible for the entire creative side of Clarence House — product development to advertising."
He said the P/Kaufmann involvement "will be to bring some financial and managerial support. We hope to greatly expand the company's potential. It's a very attractive business opportunity and it arguably is the best brand in the business."
Clarence House's annual sales are estimated at more than $60 million.
"I'm just thrilled about it," said Roberts, who started Clarence House in 1961. "We'll have the business know-how of P/Kaufmann to take us to the next level."
One objective is opening more showrooms in the United States and abroad. There are 14 in the United States, including six company-owned units, "and there are a number of areas like Washington, D.C. that need to be served," Roberts said. The company made its first foray into Europe two years ago and sees Paris "as an important next step," he added.
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