Film producer Kavanaugh invests $25M in nuMobilia
Leather upholstery source to show at Las Vegas Market
Ray Allegrezza -- Furniture Today, July 9, 2012
LOS ANGELES — NuMobilia LLC, a manufacturer of leather upholstery here, has named Ryan Kavanaugh, a successful film producer and CEO and founder of Relativity Media, as its chairman.
The company also confirmed that nuMobilia has completed a new round of financing, with Kavanaugh investing $25 million in equity to fuel its continued growth.
Kavanaugh has created business and financial structures for a number of studios, production companies and producers, and has introduced more than $10 billion of capital to these structures, officials said. Relativity has produced, distributed, and/or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box office revenue and earning 60 Oscar nominations.
NuMobilia will show at this month's Las Vegas Market in the World Market Center, space B-170, featuring five new leather finishes, a contemporary hand-finished collection, and 12 new collections - including the Chlöe, a duvet-style, feather-filled design available in fabric or as a leather-fabric combo. The market runs July 30-Aug. 3.
NuMobilia also recently expanded its operations significantly, opening a 275,000-square-foot plant in Tijuana, Mexico, in December to augment its 125,000-square-foot facility in Los Angeles.
"I couldn't be more pleased with nuMobilia's growth over the past three years," said Kavanaugh. "They have grown to be one of the largest manufacturing operations in existence and its customers comprise the industry's largest retail suppliers. This company shares a true alliance with its customers, who allow and trust us to represent significant portions of their major lines."
"Ryan's vision has helped us grow our customer base and vision," said nuMobilia's chief financial officer and co-president, Rick Skinker. "We have grown to become a truly global furniture brand. His leadership has helped us to build our customer base and operation to the industry's best."
Martin Chapman, chief operating officer and co-president of nuMobilia, added, "This new investment has made us one of the most well capitalized companies in the industry. We have used our large operation and massive capital infusion to make sure we have raw materials, machinery and the best technology on hand so we can supply and be able to ship with the highest quality and faster than any of our competitors."
NuMobilia operates primarily out of its facility in Tijuana, where it has recently grown its combined workforce to over 500 people and grown its output to almost 10,000 units per month.
With Ikea as one of its largest customers, the company has undergone significant expansion.
Since January, it has shipped to more than 200 customers worldwide, and offers more than 50 different designs. The company is also in the process of opening an East Coast factory to meet the growing demands of its customers.
NuMobilia's primary focus is on leather upholstery, and the development of new leather finishes. Notably, the company has developed and is further improving a proprietary process for creating hand-antiqued leathers. It also is expanding into occasional and accent pieces and has a number of designs ranging from traditional to contemporary.