La z boy Incorporated
Business Description
Edward M. Knabusch and Edwin J. Shoemaker started Floral City Furniture in 1927,
and in 1928 the newly formed company introduced its first recliner. In 1941, we
were incorporated in the state of Michigan as La-Z-Boy Chair Company, and in 1996
we changed our name to La-Z-Boy Incorporated. Today, our La-Z-Boy brand is the
most recognized brand in the furniture industry.
We manufacture, market, import, export, distribute and retail upholstery furniture
products. In addition, we import, distribute and retail accessories and casegoods
(wood) furniture products. We are the leading global producer of reclining chairs
and the second largest manufacturer/distributor of residential furniture in
the United States. The La-Z-Boy Furniture Galleries® stores retail network
is the third largest retailer of single-branded furniture in the United States.
We have seven major North American manufacturing locations and six regional
retail distribution centers in the United States to support our speed-to-market
and customization strategy.
We sell our products, primarily in the United States and Canada but also internationally,
to furniture retailers and directly to consumers through stores that we own
and operate. The centerpiece of our retail distribution strategy is our network
of 338 La-Z-Boy Furniture Galleries® stores and 559 Comfort Studio®
locations, each dedicated to marketing our La-Z-Boy branded products. We consider
this dedicated space to be "branded outlets" or "proprietary."
In addition to the almost 900 branded outlets dedicated to selling La-Z-Boy
product (La-Z-Boy Furniture Galleries® stores and Comfort Studio® locations),
approximately 1,900 other dealers also sell La-Z-Boy, including some of the
best known names in the industry, such as Art Van, Nebraska Furniture Mart,
Slumberland and Raymour & Flanigan Furniture. We own 124 of the La-Z-Boy
Furniture Galleries® stores. The remainder of the La-Z-Boy Furniture Galleries®
stores, as well as all 559 Comfort Studio® locations, are independently
owned and operated. La-Z-Boy Furniture Galleries® stores help consumers
furnish their homes by combining the style, comfort and quality of La-Z-Boy
furniture with our available In-Home Design service. La-Z-Boy Comfort Studio®
locations are defined spaces within larger independent retailers that are dedicated
to displaying and selling La-Z-Boy branded products. Our other brands—England,
Kincaid, American Drew, and Hammary—enjoy distribution through a combined
1,500 dealers. Kincaid and England have their own dedicated proprietary in-store
programs with 500 outlets and over 1.5 million square feet of proprietary floor
space. In total, our proprietary floor space includes approximately 9.3 million
square feet.
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