Crown Crafts is a publicly held American company headquartered in
Gonzales, Louisiana. The company designs, markets and distributes infant, toddler and juvenile consumer products. Its stock is traded on the
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
Capital Market under the ticker symbol "CRWS".
Company overview
The company was founded in northern Georgia in 1957 by Irving Ostuw as Janyjo Inc.
Its operations were originally limited to the manufacture and distribution of adult bedding, primarily tufted bedspreads, and the company added jacquard-woven bedspreads in 1967.
The company went public in 1968 on the
American Stock Exchange
NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known ...
, under the symbol CRW.
In 1984, Crown Crafts purchased Decorator Comforters Inc. for $4m, using cash from a loan.
By 1988 the company had the largest integrated flocking facility in the US.
In 1994 the company's shares were offered on the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...
, again under "CRW".
In 1995, the company began to enter the market for infant and juvenile products through several acquisitions, including "Red Calliope" for $16m.
and Pinky Baby in 1998.
Following several years of unprofitability, the company in 2000 remade itself as primarily a marketer of infant and juvenile products. During this time, the company stopped manufacturing adult woven products and began sourcing its infant and juvenile products through foreign contract manufacturers, with the largest concentration in China.
The adult bedding division was bought out by a management team, on 23 July 2001.
This included the Calvin Klein Home brand (Crown Crafts Designer Inc.) as well as Royal Sateen and Private Label. The new company was called Design Works Inc.
The company relocated its headquarters from
Atlanta, Georgia
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
to Gonzales, Louisiana in 2002. It also operates a leased distribution center in
Compton, California
Compton is a city in southern Los Angeles County, California, United States, situated south of downtown Los Angeles. Compton is one of the oldest cities in the county and, on May 11, 1888, was the eighth city in Los Angeles County to incorporat ...
, a sales office in
Bentonville, Arkansas, and a Foreign Representative Office in
Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...
, China.
The company operates indirectly through its wholly owned subsidiaries, Hamco, Inc. and Crown Crafts Infant Products, Inc. Sales of the company’s products are generally made directly to retailers, which are primarily mass merchants, mid-tier retailers, juvenile specialty stores, restaurants, internet accounts and wholesale clubs. The company’s products are marketed under a variety of company-owned trademarks, primarily NoJo™ and Neat Solutions™. The company also markets products under trademarks licensed from others and as private label goods.
Products
The company’s products are primarily geared for infants, toddlers and juveniles, and include crib and toddler bedding, blankets, nursery accessories, room décor, nap mats and disposable and reusable bibs and floor mats.
See also
*
Microcap stock
*
Graco (baby products)
References
{{Reflist, refs=
[{{Cite news, work=Calhoun Times, date=27 December 1995, title=Crown Crafts Enters Infant Bedding Market, page=8B]
[{{Cite news, page=15, work=Calhoun Times heritage Edition, date=20 February 1988, title=Crown Crafts has a Good Year]
Companies based in Louisiana
Manufacturing companies based in Louisiana