F/T names Bassett, Koenigs top leaders
By David Perry -- Furniture Today, November 18, 2001
HIGH POINT — Two nimble retailers and a spirited wood furniture producer have been named Leaders of the Year by the editors of Furniture/Today and will be honored at the newspaper's Leadership Conference in December.
Kevin and Keith Koenig, brothers who started as waterbed retailers in the 1970s and transformed the company in the '90s into Florida's highly successful City Furniture, are the Retailers of the Year.
John D. Bassett III, president and chief executive officer of Vaughan-Bassett Furniture, whose initiatives have kept his domestic wood furniture factories humming, was named Manufacturer of the Year.
The Koenigs and Bassett will be feted at separate dinners in their honor at the Furniture/Today Leadership Conference, an invitation-only event set for Dec. 5-7 at the Ritz-Carlton in Key Biscayne, Fla.
In making their selections, Furniture/Today's editors said the Koenigs and Bassett best fit the qualifications for the awards: To honor those who "take their company or the industry as a whole to a new level through creativity, innovations and decisive and bold actions."
"Each of these individuals exemplifies the highest standards of leadership in our industry," said Ray Allegrezza, Furniture/Today editor in chief. "The theme of our conference this year is 'Survival of the Fittest' and these three leaders have, through their creative and decisive actions, not only survived some challenging times, but have built thriving businesses."
The Koenigs first rose to prominence as waterbed retailers in Florida in the 1970s. Kevin Koenig started Waterbed City in 1971 after he completed studies for an MBA. His first showroom, in Fort Lauderdale, occupied only 800 square feet. Kevin cut and stained the waterbed frames at night and sold them during the day.
The business survived those tough early days. Consumers kept coming back to the store, and the company undertook the first of what would become many expansions.
Keith Koenig, who became one of the waterbed industry's highest-visibility operators, has made a major contribution to the business through his merchandising and operating savvy.
In 1990, Waterbed City introduced innerspring mattresses, an indication of its ability to change with the times as the sun set on the heyday of waterbeds.
In September 1994, the company opened its first City Furniture store and expanded its product line to include living and dining room furniture, wall units, home theater and ready-to-assemble furniture.
This fall the company expands again, opening a 660,000-square-foot distribution center, showroom and corporate headquarters in Fort Lauderdale.
Company officials will conduct tours of the new facility for those attending the nearby Furniture/ Today Leadership Conference.
John D. Bassett III has been a respected leader in the furniture industry for years. Like many wood furniture producers, he has worked imported pieces and components into his company's product mix. But, unlike some others, he has also found a way to keep his domestic plants operating.
One key has been his commitment to continuously invest in machinery and processes that keep his plants competitive. Those investments boost efficiency and allow the company to offer strong values on domestic products.
The hands-on Bassett also has demonstrated his ability to change with the times by engineering innovative sales promotions.
The latest is Operation: American Spirit, a push to get business rolling again in the home furnishings industry.
This summer the company offered a 5% rebate on all furniture shipped during June, July and August for dealers who reached a sales goal. That was meant to be a one-time offer. But Bassett realized that extraordinary actions were needed in the wake of the Sept. 11 terrorist attacks.
Operation: American Spirit offers a rebate of 4.5% on shipments between Oct. 1st and Dec. 21st to dealers who reach a sales goal.
On Jan. 14, the company will present in its dealers' names a check to the New York Red Cross for relief efforts in the amount of one-half percent of the dealers' shipments during the period of the promotion.
"We believe in doing our part to get the country moving again, keeping our factories running full time, providing our employees with a paycheck, and helping you do business during trying times," Bassett said in a letter to his dealers. "We are certain that our industry will respond to this challenge."
Bassett has played a variety of key roles in the American Furniture Manufacturers Assn., which earlier this month presented him with its Distinguished Service Award.
He was instrumental in the creation of a blue-ribbon committee that launched AFMA's ongoing public relations push.
Bassett also has been a supporter of the International Woodworking Fair, the big suppliers show which AFMA co-sponsors every other year in Atlanta.
| Bassett |
| Kevin and Keith Koenig |
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