Living Spaces opens fourth store
Top 100 company growing despite economy
Clint Engel -- Furniture Today, August 14, 2008
IRVINE, Calif. — Despite operating in one of the toughest economic climates in the country, Top 100 company Living Spaces has been in expansion mode this year.
The Rancho Cucamonga, Calif.-based chain recently opened its fourth store, an approximately 100,000-square-foot showroom in Irvine, Calif., on Technology Drive near Interstate 5 and Alton Parkway.
Early this year, the retailer opened its third greater Los Angeles store in Van Nuys — a 188,000-square-foot facility, according to reports.
The promotional to midpriced retailer is owned by Grover Geiselman and Sharm Scheuerman, who opened the company’s first store in Rancho Cucamonga just a few years ago. Living Spaces is ranked No. 82 on Furniture/Today’s Top 100 with 2007 estimated sales of $78 million.
Sources familiar with the retailer said they believe that estimate is conservative. The owners declined to be interviewed.
Geiselman did speak to Furniture/Today back in 2002, when he and Scheuerman — both Stanford University business school graduates — were planning to open a store (then called Today Furniture) in the San Francisco Bay area. They later moved to Southern California and changed the name to Living Spaces.
At the time, the two were apprentices of Gallery Furniture in Houston and were building their business model around the Houston operation owned by Jim McIngvale. Their store was to feature same-day delivery service and Gallery’s other “consumer value propositions,” such as exceptional customer service, a huge selection and great prices, Geiselman said.
On the Living Spaces Web site and in the store, the two have even borrowed a catch-phrase that McIngvale has employed for years, “Buy today, enjoy tonight.”
According to its Web site, suppliers include Ashley, Berkline, BenchCraft, Broyhill, Fairmont Designs, GuildCraft, Jonathan Louis, Klaussner, Lane, Diamond Mattress, Diamond Sofa, Mike Cims, Pulaski, Omnia Leather, Viewpoint Leather, Sealy, Simmons and Tempur-Pedic.
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California's Living Spaces adding stores
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