Magnussen honored at gala
Michael J. Knell -- Furniture Today, January 25, 2010
MISSISSAUGA, Ontario —
Richard Magnussen, a man who took his family's small table factory and built it into one of the largest furniture resources in North America, was honored here with the 2010 Lifetime Achievement Award by the Canadian Home Furnishings Alliance.
Magnussen, president and CEO of what is now called Magnussen Home Furnishings, was honored at a gala during this year's Canadian Home Furnishings Market.
The Lifetime Achievement Award recognizes individuals who have made exemplary and sustained contributions to the Canadian home furnishings industry and their communities.
“Through his vision and leadership, Richard Magnussen has developed the Magnussen Home brand as a significant resource in a highly competitive sector of our industry,” said CHFA board Chairman Laine Reynolds.
Reynolds noted that since joining the business in 1970, Magnussen has ensured the New Hamburg, Ontario-based resource has continued to grow while maintaining the core principles of a family-run business: trust, honesty and respect.
The CHFA also cited Magnussen's commitment to sharing the company's blessings with those less fortunate by working with charities to alleviate poverty in the developing world by improving living conditions, championing human rights, promoting social awareness and providing education and training to create greater opportunities.
“Richard Magnussen and his employees believe that Magnussen Home should be a force for positive change,” Reynolds added.
Richard's father, Ingwer Magnussen, started the company in 1931 as a producer of show wood for upholstery producers.
It later got into the occasional table business and under Richard Magnussen's guidance, became Canada's largest occasional table maker.
A few years later, the industry began to change and retailers began buying product from overseas, mainly from Taiwan and elsewhere in Asia.
Christa Albrecht, Magnussen Home's vice president of sales for Canada and the Eastern United States, said that when he first investigated imported tables, Richard Magnussen found that while the styling and design was acceptable, the quality wasn't.
“This was a common problem in our industry with the early offshore goods — the consensus was this product was garbage,” she said. “To Richard, however, this was opportunity.”
He traveled to Asia to visit the furniture factories and began working with them to improve production and shipping. Costs to manufacture in Canada were rapidly increasing, prompting Magnussen to close his production and instead focus on creating the best line of imported furniture possible.
“This was a very emotional time for Richard yet one that set him on his path for explosive growth,” Albrecht said.
She added, “Richard is always trying new directions to further his business and the value added to his customers and always thinking of the end consumer.”
In accepting the award, Magnussen thanked his family and his staff, crediting his father with instilling his work ethic.
“Over the years, probably one of the best lessons I have learned is the importance of change — the ability to be open to new ideas and the implementation of change,” he said. “At Magnussen, the culture of change is part of life.”
The last two years have brought “some incredible challenges to all our businesses. The changes we have made will make us stronger,” Magnussen added.
“At Magnussen Home, we are anticipating 36% growth for 2010 over 2009. Some of that growth will come from economic market improvement, but much will come from our team of leaders at Magnussen that have learned the valuable lesions of the importance of change. The world is a big place and needs lots of fine furniture.
“It is my passion for Magnussen Home that we never lose sight of the importance of change in this incredible, evolving world,” he said. “It can only ensure that we meet our consumer's home furnishings needs for today and tomorrow.”
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