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Lifestyle offers new product to Forbidden City buyers

Thomas Russell -- Furniture Today, February 2, 2009

HIGH POINT — Despite a smaller attendance than in previous years, Lifestyle Enterprise executives said its 2009 Forbidden City furniture show here beat their expectations.

Last week's two-day event drew 283 buyers from 131 accounts, said Lifestyle CEO James Riddle. While that's slightly less than the 150 accounts the company invited and down from the 400 accounts that have come to the show in previous years, Riddle said he was pleased with the turnout.

The accounts came from states as distant as Florida, New England and Alaska. They also came from Canada, Mexico, Puerto Rico and elsewhere in the Caribbean, Riddle said, adding that business was surprisingly brisk.

“We didn't write as much, but we wrote more per account,” he said. “The accounts that came ordered and committed in more depth than in previous years.”

“Basically we were focused on groups that would drive traffic for the retailers,” he added. “We knew we would sell product, but we had no idea it would be as well received as it was.”

At the show, Lifestyle launched 10 new bedrooms that were priced as much as 30% below the levels of comparable groups at last January's event, according to the importer. That put the new five-piece bedrooms at estimated retail prices of $699 to $1,099.

For photos from the event, click here.

Lifestyle's higher-end Forbidden City division is offering one new Mission bedroom in a dark merlot finish. It is priced to retail at about $1,099 for a five-piece group, building off the success of a Louis Philippe group at the same price point that was launched in October.

“These are by far the best promotional prices this company has offered,” Riddle said, noting that the pricing is good on orders placed through Feb. 7. “We know how bad business is at retail, and all of our major accounts have expressed a need for traffic builders.”

Based on orders written, he expects most of the bedrooms to go into production.

Lifestyle's Shanghai Leather division showed at least 15 new leather groups it said were priced at 25% to 30% below the January 2008 levels for comparable product.

New sofas were targeted to retail from $349 to $1,299. As with case goods, the prices are good for orders placed by Feb. 7.

“It was the best market we have ever had in Shanghai Leather,” Riddle said, adding that he believes most of the 15 groups will make the cut.

“Everybody's mindset is that, 'We have to do something to generate traffic and business,' which is actually refreshing,” said Gabriele Natale, president of Shanghai Leather, adding that the orders placed now will be shipped in March. “The timing couldn't be better because now (retailers) are ready to start their second-quarter promotions.”

“Their prices are very competitive and that's much needed,” said Ivan Smith Jr. of Shreveport, La.-based Ivan Smith Furniture, who purchased three bedroom groups.

Harold Hart, of Siler City, N.C.-based distributor Hart Furniture Co., said he bought two groups of bonded-leather stationary upholstery as well as some motion groups sold in the Shanghai Leather division. He also plans to order at least two new bedrooms.

“I liked the promotional leather and the bonded leather,” he said. “I think they had some good price points.”

For photos from the event, click here.

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