Regency House expects rapid growth this year
By Thomas Russell -- Furniture Today, March 13, 2005
Hickory, N.C. — Thanks in part to its expanding network of in-store galleries, case goods importer Regency House here expects another year of rapid growth in 2005.
Officials are projecting at least an 18% increase in 2005 shipments, matching the percentage growth the 35-year-old company experienced in 2004. The projection doesn't include upholstery, which Regency House introduced in October, with orders now being shipped to dealers.
"Growth this (past) year has been significant and a little unexpected," said President Jeff Arditti. "We are definitely on track to meet (18% growth) for the coming year. We feel we will have that just based on case goods."
The privately owned company does not reveal sales figures.
Arditti said the company's gallery program, launched in fall 2003, had about 164 installations as of late January. That's short of the 200 it had hoped to have in place in 2004, but the company hopes to reach that goal by April.
Geared largely to single stores and retailers with a few locations, Regency House's gallery program takes a three-tiered approach that allows the dealer to choose the best footprint for his floor.
Silver status includes four settings or groups, Gold encompasses six settings, and Platinum has eight. "All three levels are going very strong," said spokesman Eric Bauer.
The company has updated its Internet site, www.regencyhouseinc.com, to allow dealers to reorder merchandise, track orders and see what's in stock. By tracking orders and shipments, Regency House can better manage its inventory and ship more quickly.
The galleries currently sell mostly bedroom, dining room and occasional products. Upholstery is technically outside the program, but the company is looking for ways to incorporate it in the mix.
Regency House also wants to bring some larger retailers in and outside the United States into the gallery program.
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Regency House expects rapid growth this year
Mar 16, 2005
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