New Classic buys High Point showroom building

Will show in PCH Building during April market

Thomas Russell -- Furniture Today, January 26, 2011

LAS VEGAS — Case goods and upholstery importer and manufacturer New Classic Home Furnishings is purchasing a High Point showroom building, the PCH Building at 135 S. Hamilton St. with three floors and 30,000 square feet.

New Classic also has purchased a 10,000-square-foot building behind that property for future expansion.

The company said the purchase was a cash deal that closed Jan. 18, but did not disclose the price. It bought the PCH Building from the Genova Family Trust and the Galardo Family Trust and purchased the smaller building from Frank and John Turano. PCH Building co-owner Michael Galardo said his upholstery company, Elite Leather, will move to another space to be determined by the April market.

About two years ago, New Classic had left High Point to focus the Las Vegas Market. It returned to High Point in October, and said it received a good response from dealers and decided to commit to the market.

"The volume of visitors we saw in the showroom was phenomenal," said Michele McPherson, vice president. "It can only get better from here. It only confirmed our decision to come back."

She said the company's sales have grown at an average of about 30% a year over the past five years. In recent years, the company's parent also has doubled the size of its Chinese case goods factory and has added capacity for New Classic dining room and upholstery.

"We are continuing to grow and believe this is a great investment for our future business," said Jean Tong, company president and owner. "The key buyers still go to High Point."

New Classic also has a new warehouse and distribution center in nearby Greensboro, N.C., to serve East Coast accounts and has added about 20 reps in the last 90 days, bringing the total to 75, officials said.

The company will begin showing in the new High Point building in April. It will accommodate about 85% of the company's line, officials said, adding that they will expand into the additional square footage as the need arises.