Ashley Furniture
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| Private | |
| Industry | Furnishings |
| Founded | 1945 Chicago, Illinois, U.S. |
| Headquarters | Arcadia, Wisconsin, U.S. |
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Key people
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Todd Wanek (CEO) Ronald G. Wanek |
| Products | Upholstered furniture and casegoods |
| Revenue | US$3.85 billion |
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Number of employees
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22,582 |
| Website | ashleyfurniture |
Ashley Furniture Industries, Inc. is an American home furnishings manufacturer and retailer, headquartered in Arcadia, Wisconsin. The company is owned by father and son team Ron and Todd Wanek. Ashley Furniture manufactures and distributes home furniture products throughout the world.
Ashley Furniture Industries sells home furnishings and accessories available through two distribution channels: independent furniture dealers and more than 500 Ashley Furniture HomeStore retail furniture stores, which are independently owned and operated by licensees in the United States, Canada, Mexico, Central America, and Japan. It has manufacturing and distribution facilities in Wisconsin, Mississippi, California (closed 2016), Pennsylvania, North Carolina, Florida, China, and Vietnam.
Carlyle Weinberger founded Ashley Furniture in Chicago in 1945 as a sales operation. Specializing in wooden occasional furniture, Ashley marketed goods made by local companies. Later the company opened a branch in Goshen, Indiana. In 1970, Ashley invested in the Wisconsin-based Arcadia Furniture, founded by Ronald G. Wanek. When Wanek moved to Arcadia to open his own factory he took with him Eugene Vogel's son, Chuck. The two began doing production work for Ashley Furniture. Even though Arcadia started out as a small production plant for Ashley's lines in 1976, Wanek and group of investors bought out Weinberger, taking control of Ashley Furniture. At first the two companies maintained their separate identities, with Arcadia focusing on production and Ashley on sales.
By 1982, the merged company's annual sales reached $12 million and it had moved its corporate headquarters from Chicago to Arcadia. By the mid-1980s, Ashley offered a line of roughly 350 different furniture products, and had turned its design and manufacturing away from "heirloom pieces" toward products aimed at middle-income buyers. The company's growing network included wholesalers such as Levitz Furniture and mass-retailers such as Sears, Kmart, and Montgomery Ward, in addition to smaller retailers. Sales had climbed to more than $44 million by 1985.
In 1994 Ashley acquired upholstery manufacturer Sklar-Peppler, and by the late 1990s the company was operating assembly and distribution plants in Seattle, Washington; Pomona, California; New Brunswick, New Jersey; and Orlando, Florida. Gambling that motion furniture was a strong growth area, Ashley acquired Gentry Furniture, of Ripley, Mississippi in 1999. That same year the company also branched out into retailing, licensing Ashley Furniture HomeStores to independent dealers. The chain grew in its first year to approximately 40 stores.
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Wikipedia