BOYLES Announces New Joint Venture Backed By Gene Rosenberg, Co-founder of Planned Furniture Promotions & Bob's Discount Furniture
Furniture Industry News Update -
Furniture World Magazine
A group of furniture industry veterans, backed by Gene Rosenberg, a co-founder of Planned Furniture Promotions and Bob’s Discount Furniture, announced the formation of a joint venture with Alex and Chad Hendricks, the owners of the Boyles Furniture Brand.
The investment group, which is being spearheaded by Planned Furniture Promotions’ senior vice-president Mark Bannon, plans to leverage the nationally known Boyles brand to create a powerful retail presence in the mid to high end furniture sector. The new company, Boyles Brand Holdings, LLC, based in Hickory, NC with additional offices in Connecticut, has begun executing plans to open multiple Boyles Furniture & Rugs stores. In addition, the group plans other initiatives including offering a complete turnkey retail solution to current or prospective retailers throughout the country.
In regards to the joint venture, Gene Rosenberg notes, “For quite some time our executive team has been interested in opening a nationwide chain of mid-high end stores to fill the void left in this highly fractured market. After meeting with the Hendricks brothers, it was immediately clear that the Boyles brand was the perfect vehicle to realize our team’s vision.”
Mark Bannon stated, “Planned Furniture Promotions has been involved in all aspects of the furniture industry for 50 years and we’re extremely impressed with the history, integrity and strength of the Boyles brand. Our wherewithal and resources combined with the passion, knowledge and experience of all the partners creates a powerful collective, that will fuel the robust growth of the Boyles brand,” he added.
Chad and Alex Hendricks, sons of long time Boyles owner Larry Hendricks, acquired the brand and have been actively seeking the ideal opportunity to further expand the powerful Boyles name on a national level. Alex Hendricks said, “This partnership is a positive step forward for not only our company but our industry as a whole. The economic recession that has adversely and disproportionally affected the furniture business is showing promising signs of recovery. We are all confident that this opportunity, with an incredibly dynamic team, will lead to significant growth of the Boyles brand. Also, this partnership will provide a positive impact on the distribution of the many great vendor brands that Boyles has been synonymous with over the past fifty years.” Chad Hendricks added, “This is the beginning of a very exciting growth period for our brand. Stay tuned, we will be rolling out several exciting initiatives over the coming months.”
The Boyles brand name is wholly owned, and all related divisions are wholly operated by, Boyles Brand Holdings, LLC, a holding company owned by industry veterans Gene Rosenberg, Paul Cohen, Chad Hendricks, Mark Bannon, Alex Hendricks, Burt Homonoff, Rob Rosenberg, Tom Liddell, Roy Hester and Jerry Cohen.
Furniture World Magazine-Business solutions for furniture retailers