Glyn Styles leads buyout of Halo Styles
January 21, 2014-- Furniture Today,
HIGH POINT — Glyn Styles, an executive with Halo Styles, has led a buyout of the company from Halo Creative & Design Limited, officials announced this week.
The deal returns full ownership of the company to Styles, who will remain at the helm as CEO.
Styles and his wife, Jill, founded the original G&J Styles Inc. in England in the early 1980s. It originally manufactured, and then later sourced a line of antique reproduction furniture out of Asia. The company moved to High Point around 1997 and has been based in the area ever since.
This breakfront style single vanity sink is made with reclaimed pine in a washed finish and featuring a blue stone top. It retails at $1,795.
The company entered into a joint venture with its primary vendor Halo Asia in 2008. Through that relationship, Halo acquired a 50% ownerships stake in the company.
With the full ownership of the company returning to Glyn Styles, the company will be renamed GJ Styles on March 31.
Officials said the change would not result in any major strategic changes at the company or in its management structure.
In addition to Styles as CEO, Richard Jordan remains chief operating officer.
Jordan said the company will continue to distribute Halo's line in the U.S. and will continue to purchase from the same factories in Asia.
Its product line will continue to offer upper middle priced dining room and occasional furniture and upholstery in updated vintage industrial looks. The term antique reproduction, Jordan said, no longer applies to the line.
Halo's line also offers vintage industrial looks in dining room, occasional and upholstery.
Halo founder Timothy Oulton said the team at Halo Styles has been "extraordinary to work with over the past six years."
"They have enabled us to execute a business strategy that has led to the penetration of key retail markets and development of brand recognition that would not have been achievable without their partnership." he added.
Jordan noted that the Halo Styles line has some lighter finishes and more feminine looks than the regular Halo line, which is known for its aviator inspired chairs, its dark brown leather upholstery, and its trunks featuring leather and metal accents. Both lines also use reclaimed woods as well as metal bases on dining and occasional tables.
The diverse mix of materials, including petrified woods, gives dealers a chance to sell unique, one-of-a-kind finished goods.
Jordan said the company is moving toward more painted and rub through finishes, which helps offer smaller dealers and designers - that make up its core customer base - a softer look.