Ethan Allen's plan for U.S. exporting.
Ethan Allen is in the midst of a reinvention, and it impacts every element of our business. From last fall to this fall, we will have changed about 70% of our product offerings. And, very importantly, we are very focused on increasing --not only maintaining, but increasing--our commitment to manufacturing in the United States and North America. In fact, 80%-plus of all the products that we make are custom. And custom means making it in our North American facilities and shipping 80% of this in about four weeks' time.
Last fall, we began this reinvention with hundreds of all new designs we called The Next Classics. This May we'll begin to introduce hundreds more. And we have been able to make it in our own American workshops, and are shipping it internationally, and especially to China.
We had to and we continue to make substantial investments in new equipment and technology throughout the system. Because it's a self-fulfilling prophecy: if you do not invest and are not current, you will fall behind and never catch up. Our vertically integrated business model creates extraordinary advantages. It guarantees authenticity and originality of designs. It gives us an ability to bring new products to market faster. It allows us to give our clients extraordinary value, what I call affordable luxury. Most of all, it allows us to be in charge of our own destiny, to continue our commitment to North American manufacturing and to keep bringing our clients the kind of quality, style and value that they can only get from America's classic design brand.
Editor's note: This is excerpted from a presentation by Farooq Kathwari, president and CEO of Ethan Allen, to the Raymond James Institutional Investment conference, March 3,2015. Reprinted with permission.
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|Title Annotation:||First Person|
|Comment:||Ethan Allen's plan for U.S. exporting.(First Person)|
|Date:||May 1, 2015|
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