Henredon debuts lower-priced Lauren
By Gary Evans -- Furniture Today, March 31, 2003
At The Market — Henredon is aiming for more moderate price points with a Ralph Lauren collection under the new Lauren brand at the market here this week.
The 75-piece collection of case goods and upholstery also is targeting different distribution than the current Ralph Lauren line, as well as more business with current dealers.
Henredon President Mike Dugan said that while a dining table in the Ralph Lauren line would retail at $4,000 and up, one in the new Lauren line could sell at $1,999. He said the addition of the new line "allows us to hit price points we've never been able to hit before.
"I think if you look at the Ralph Lauren tier marketing structure, they're really good at doing good, better, best. This is something they've wanted for some time," he said.
The Lauren line won't bump heads with the regular Ralph Lauren, which Henredon is expanding this market with new pieces. Dugan said the new line "has the Lauren DNA" but, compared with the current Ralph Lauren, is "younger and not as serious. This is not a knockoff of the regular line."
Lauren is "very department store-oriented, much more than designer showrooms," said Dugan. He expects to get new distribution with the line but added, "I think we'll do more business with the same dealers we have."
Henredon unveiled a Lauren line extension several years ago "with some success," according to Dugan, a collection that he felt was ahead of its time. Now the timing may be better.
"We think it's going to be terrific," he said.
He declined to disclose the sourcing, but indicated the use of some imports made the lower pricing possible.
"It's something we wouldn't have been able to do years ago because our factory couldn't produce at those price points," he said.
The Lauren tier pricing structure began in home textiles in 2001 and is now being extended to furniture and tabletop, where the Lauren line will debut this fall under a new licensing agreement with Mikasa. Ralph Lauren Home branded products will continue to be available at department and furniture specialty stores, although the textiles and tabletop products under that brand will be primarily available at the company's own Polo stores.
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