Mirador eyes growth in '05
By Thomas Russell -- Furniture Today, January 23, 2005
High Point — Case goods importer Mirador is on track for aggressive growth in 2005 thanks largely to the expansion of its dealer base last year.
The company, which got its start in 1999 as an accent specialist, is forecasting a 40% increase in sales this coming year, though it declined to disclose a dollar volume. The company said it sells to nearly 300 retailers, up from 100 a year ago.
Mirador President Paul Megliola said the company will likely continue to add dealers. But it mainly plans to help its existing dealers grow their own businesses.
"Most of our growth will come from the maturation of these 300 customers," he said.
Company officials attribute the growth to the expansion and appeal of the Mirador line. It remains an accent specialist, with about 60% of its sales in that category, but has grown into other product categories such as bedroom and dining room, which now represent about 15% and 25% respectively.
Mixed media has become an important part of its style strategy, with hand-painted finishes and materials ranging from leather and antique mirrors to etched brass.
Also helping fuel the growth is a partner factory in Zhanjiang, China, where Mirador has been sourcing product since 1999. The plant, which company officials declined to identify, completed a 250,000-square-foot expansion this past summer.
The expansion included a new 80,000-square-foot warehouse, which Mirador is using to help manage its inventory, distribution and product availability. By managing its production and inventory better, Mirador expects to ship more mixed containers.
"The more mix you can put on a container, the deeper into a market you can go," Megliola said.
"By having a factory partner like this, we can meet our dealers' expectations and handle our deliveries much more effectively," added Bryan Edwards, Mirador's senior vice president of sales and marketing.
Despite the addition of dealers and products, the company doesn't plan to abandon its reputation as a specialist in accents. Success in accents has spurred growth in other categories, Edwards said.
"We see accents truly as the engine of the company," he said.
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