Leon's
 |
|
| Public | |
| Traded as | : LNF |
| Industry | Home Furnishing Stores |
| Founded | Welland, Ontario, Canada (1909) |
| Founder | Ablan Leon |
| Headquarters | Toronto, Ontario, Canada |
|
Key people
|
Terry Leon, President/CEO Dominic Scarangella, Vice-President/CFO Edward Leon, Vice-President/TFM |
| Revenue | CAD 1.97 Billion (2015) |
|
Number of employees
|
2,864 |
| Subsidiaries | The Brick |
| Website | www.leons.ca |
Leon's Furniture Ltd. (: LNF) Meubles Léon Limité in Ontario is a Canadian furniture retailer which first opened its store in 1909 in Welland, Ontario. The controlling interest in the company is owned by the Leon family, while some shares are traded publicly on the . The company has stores in all provinces of Canada.
Leon's originated in the city of Welland, Ontario, near the US border in the Niagara Region. It was founded by Ablan Leon, a Lebanese immigrant, who started out as a door-to-door salesman. He was able to open a store with his profits in 1909. The original store was a dry goods outlet, which subsequently converted to furniture sales.
Leon's original store was staffed primarily by his family. When he died in 1942, he left the company to his children. After expanding the original location, they built new stores in southwestern Ontario.
The company moved into the Toronto area in the subsequent decades, purchasing several established outlets in the city and then converting them to the Leon's name. The company went public in 1969 and opened its first warehouse showroom in 1973, touting it as the only one in Canada.
Today, roughly half of the store's more than 50 outlets are owned corporately, while the remainder, mainly in rural areas or in cities with lower populations, are owned by franchisees. There were briefly two stores in Arizona in the mid 1990s.
On November 11, 2012, Leon's announced plans to acquire competing furniture chain The Brick for $700 million.
Leon's will take over 8 Sears Home stores in 2016, a move that will allow Leon's to open its first store in British Columbia.
Leon's markets mid-range furniture, appliances and electronics; some items are discount, and some stores contain high-end showrooms with higher-priced items available. A major part of Leon's marketing strategy is its financing plans, which allow customers to defer payments for various lengths of time (the most common of which are 6 and 18-month terms). This financing is offered through Visa Desjardins.
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Wikipedia