TexStyle Moves Ahead Under New Ownership
Staff Staff -- Furniture Today, December 21, 2010
NEW YORK - TexStyle's new owner is out to change the profile of the company she purchased in September by expanding its product offering and adapting approaches to manufacturing.
Karen Wang, owner of Shanghai-based Bolan, pointed to expanded product categories as well as the use of outside designers to create product for the growing product. In addition, Wang pointed to her manufacturing partners globally that will help the company both in terms of design, product mix and manufacturing technology. As an example, she pointed to her Bulgarian manufacturing partner that is No. 3 in Europe and the main supplier for Ikea as a potential manufacturing partner for the products sold in this country.
Wang purchased the company "as an opportunity to expand our Chinese manufacturing as well as focus on international sales and manufacturing in Portugal, Bulgaria, Indonesia, Vietnam and Pakistan."
The Anderson Group had purchased TexStyle in 2005, and then Whispersoft in 2008. It continues to own PerfectFit.
The need to expand the design reach of the company, product by product, is critical, Wang emphasized. TexStyle has always had an in-house design group, "but now I'm looking for free-lance designers" both here and in Europe. In terms of design, Wang considers European design ahead of American in terms of design, color and fabric - elements she hopes to translate to product development here.
Her major efforts this year will be focusing on bringing everything to "our base here that will make us more efficient than having three places as well as cutting costs."
As far as people are concerned the three senior executives remain in place: Ken Hedrick, ceo; Guyer McCracken, coo/cfo; and Dan Cacella, executive vp.
"But I want to change from the old company to a new company with high tech approaches and a quality of people with an international background."
Over the long term, Wang plans to expand the company's product mix here from window coverings, shower curtains, and slipcovers, juvenile bedding to decorative pillows, mattress covers and table linens. The company also produces and markets furniture, mostly high quality and design product for the outdoor market in Europe and China - a business she hopes to bring here as well.
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