Ethan Allen Interiors Inc. is an Americanfurniture chain with about 300 stores across the United States, Canada, Europe, and Asia. It was founded in 1932 by two brothers-in-law, Nathan S. Ancell and Theodore Baumritter.
Operations
Ethan Allen has about 300 Design Centers and Studios domestically and abroad, 9 manufacturing facilities, 14 retail service centers, and sales of $763.4 million located across the United States in 2017. It is one of the largest furniture companies in the United States. The company makes customized furniture domestically, such as upholstered furniture, sofas, and chairs, custom made in a selected fabric. Overall domestic manufacturing of Ethan Allen products stands at 65% with goals to raise this to 70% with the release of the new American Artisan line.
History
The company was started as a housewares manufacturer in 1932, then bought a bankrupt furniture factory in Beecher Falls, Vermont, in 1936. The firm adopted the name "Ethan Allen" for its early-American furniture introduced in 1939, after the Vermont Revolutionary leader Ethan Allen. In 1972, Ethan Allen moved its headquarters from New York City to Danbury, Connecticut. The Ethan Allen International Headquarters Complex includes the Ethan Allen Hotel, corporate headquarters offices, and an interior design center. The firm was sold in 1980 to Interco for $150 million, with Ancell remaining as an advisor. The company was sold again in 1989 to a management group headed by current Chairman, President, and CEO Farooq Kathwari. In 1993, the company went public to help raise $156.9 million through the sale of common stock. In 2004, Ethan Allen closed its two plants in Boonville, NY & Bridgewater, VA, laying off 250 each. In 2008, the company announced plans to close a dozen Design Centers. The decision was made to consolidate the Design Centers with others that were currently serving the same market area. More than seventy percent of its cherry, maple, and alder wood pieces are crafted in the United States. Towards the end of 2008, Ethan Allen began selling their products online. In 2009, the company laid off 238 workers from Beecher Falls, Vermont; 93 workers remained. In 2009, Ethan Allen closed the Eldred, PAmanufacturing plant.
