Trade Masters gets new name, eyes growth
By Thomas Russell -- Furniture Today, January 25, 2010
PEACHTREE CITY, Ga. —
Case goods importer Trade Masters is getting a new name as part of a recent change in ownership structure.
The company, which formed in 1995, will now be called TM International.
Ron O'Dell remains president and CEO and majority owner. Two other top executives, Greg Gapp and Rick Bowman, also now have ownership stakes in the company. Gapp remains chief financial officer and Bowman remains chief operating officer.
Terms of the transaction were not disclosed, nor did the executives reveal which specific assets of Trade Masters were acquired. O'Dell was previously majority owner, but also had shared ownership with other unnamed investors, who no longer are involved with the company, officials said.
The importer does about 70% of its business in master and youth bedroom and about 20% in fabric and leather upholstery, a category it entered about three years ago. The remainder of the business is in casual dining.
Four-piece bedrooms retail between $699 and $1,999 and five-piece casual dining sets are priced between $199 and $699. Sofa, loveseat and chair combinations range from $799 to $1,999.
Officials said they're looking to get into new categories, but will not change the way the company does business. It will continue to focus value-oriented product and will continue to place a high emphasis on timely delivery, customer services and quality control, while continuing to source from the same factories in China, Vietnam and Malaysia.
“All of our customers will continue to receive the excellent service they are provided by Trade Masters and all unshipped orders will be fulfilled by TM International,” O'Dell said in a statement. “TM International will be well financed and there will be no disruption in service.”
And while it is looking at new categories, wood bedroom will remain a key part of its product mix, Gapp said.
Gapp added that the change is the occurring at the right time as the company is starting to see increased business and product placements.
“We feel that we are beginning to come out a really hard downturn we have had the past couple of years,” he said. “We are poised to grow this year.”
The company will begin shipping product under the new name Feb. 1. It is in the process of placing a new corporate logo on catalog and other company materials.
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