LA-Z-BOY INC. (/leɪ zi bɔɪ/ ) is an American furniture
manufacturer based in Monroe ,
Michigan , USA, that makes home
furniture, including upholstered recliners , sofas , stationary chairs
, lift chairs and sleeper sofas . The company employs more than 11,000
La-Z-Boy furniture is sold in thousands of retail residential outlets
United States and Canada and is manufactured and distributed
under license in other countries including the
United Kingdom ,
Mexico , New Zealand
South Africa .
La-Z-Boy holds US and international
patents on more than 200 different styles and mechanisms.
La-Z-Boy Incorporated is divided into three reportable operating
Upholstery Group, the Casegoods Group and the Retail
Upholstery Group primarily manufactures and sells
upholstered furniture to furniture retailers and proprietary stores.
This includes recliners and motion furniture, sofas, lift chairs ,
loveseats , chairs, ottomans and sleeper sofas. The Casegoods Group
primarily sells manufactured or imported wood furniture to furniture
retailers, including tables , chairs, entertainment centers ,
headboards , dressers , accent pieces and some coordinated upholstered
Retail Group consists of 70 company-owned stores in the
Retail Group sells mainly upholstered furniture to end
consumers through the retail network.
La-Z-Boy includes various companies and brands including La-Z-Boy
La-Z-Boy Hospitality, Lea Furniture,
American Drew, Kincaid Furniture, Bauhaus USA Furniture, Hammary
Furniture and England
Furniture Incorporated .
* 1 History
* 1.1 Early history
* 1.2 The LADD
Furniture deal, decline, and recovery
* 2 Licensed manufacturers
* 3 References
* 4 External links
A location at the Savi Ranch Center in
Furniture Gallery Rt.1, Saugus, Massachusetts - 2001
La-Z-Boy in Ontario
In 1928, cousins Edward M. Knabusch and Edwin J. Shoemaker partnered
and invested in the furniture business in the small town of Monroe,
Michigan. They set out to design a chair for what they called
"nature’s way of relaxing." Using orange crates to mock-up and
refine their idea, they invented a wood-slat porch chair with a
reclining mechanism. Knabusch and Shoemaker then upholstered their
innovation and marketed it as a year-round chair. The chair was a
success; they held a contest to name it—
La-Z-Boy was the winner.
In 1969, after years primarily as a manufacturer of recliners,
La-Z-Boy started designing other products including reclining sofas,
sleep sofas and modular groups. 1981 sales were $150 million. In
La-Z-Boy introduced its first line of stationary sofas and
occasional chairs, later offering a full line of home furnishings .
THE LADD FURNITURE DEAL, DECLINE, AND RECOVERY
Richard R. Allen, Don A. Hunziker and William O. Fenn borrowed $70
million to buy Lea , American Drew and Daystrom from Sperry &
Hutchinson in 1981. LADD, whose name came from the three companies,
began trading publicly in 1982. LADD was the third-largest American
maker of furniture for homes, with over $600 million in sales, when it
Maytag businesses in 1990. LADD Industries moved from High
Point, North Carolina to
Greensboro, North Carolina
Greensboro, North Carolina in
November 1997, becoming the first company to locate its headquarters
there. At the time it was the fifth-largest American furniture maker,
with $500 million in sales, and the brands American Drew , American of
Martinsville , Barclay , Clayton Marcus , Lea, Pennsylvania House and
Pilliod . In September 1999, La-Z-Boy, at the time the largest
American upholstered furniture manufacturer, bought LADD, the
seventh-largest American furniture maker, for $197.8 million in stock
and $101.5 million in assumed debt. Saul Cutler of
BDO Seidman said
the deal "sets up
La-Z-Boy as an industry behemoth." The deal,
approved in January 2000, gave
La-Z-Boy $2 billion in sales and made
it one of the country's two largest furniture makers,
International being the other.
On July 23, 2001,
La-Z-Boy announced the LADD name would cease to
exist. John J. Case, president of
La-Z-Boy Residential, moved to head
La-Z-Boy upholstery group, which included Bauhaus, Centurion,
Clayton Marcus, England, HickoryMark, La-Z-Boy, Sam Moore and La-Z-Boy
Contract Furniture. Don L. Mitchell, who headed the LADD casegoods
group, would take the same job at the
La-Z-Boy casegoods group,
including Alexvale, American Drew, Hammary, Kincaid, Lea, Pennsylvania
House, Pilliod and American of Martinsville.
Competition from China hurt many American furniture makers, and
particularly La-Z-Boy's strategy of buying LADD to improve its
casegoods position. In 2005,
La-Z-Boy chairman Pat Norton called the
LADD deal "the biggest mistake that I have ever made in the furniture
industry." Pilliod was the first LADD division sold, to Michels half
of those used the new format already.
Late in 2014,
La-Z-Boy announced the closing of Lea after an
unsuccessful attempt to find someone to buy the company. The High
Point office would continue operations for American Drew, Hammary, and
In 1970, Morgan
Takapuna , New Zealand, founded by Jack
Morgan, commenced manufacture of the
La-Z-Boy recliner for Australia
and New Zealand. In September 2007 his son Graham Morgan announced
that the company was to import the furniture from China and Thailand
with the loss of around 200
Auckland manufacturing jobs.
* ^ A B "Annual Report 2015" (pdf).
La-Z-Boy Incorporated. Monroe,
Michigan. Retrieved 26 June 2016.
* ^ A B Archived December 27, 2010, at the
Wayback Machine .
* ^ A B C "Our History - Official
La-Z-Boy Website". La-z-boy.com.
* ^ A B "
La-Z-Boy Feels Energetic about Future: Company Is
Restructuring to Return the Brand to Profitability," Winston-Salem
Journal, August 30, 2006, p. D1.
* ^ A B C Mark Binker,"LADD Takes
La-Z-Boy Name: Former LADD
Companies Will Now Work Under One of Two
Greensboro News & Record , July 24, 2001, p. B7.
* ^ David Mildenberg, LADD's Plant-Closing to Eliminate 240 Jobs,"
Greensboro News & Record, February 21, 1990, p. A8.
* ^ Scott Andron, "LADD Celebrates New Headquarters," Greensboro
News & Record, December 5, 1997, p. B8.
* ^ "
La-Z-Boy to Acquire Ladd Furniture".
Los Angeles Times
Los Angeles Times .
Associated Press . 1999-09-30. Retrieved 2012-10-26.
* ^ Fran Daniel, "Restructuring of
La-Z-Boy Creates Two New
Winston-Salem Journal , August 2, 2001, p. D1.
* ^ A B Richard Craver, "The End of an Era:
in the Triad Has Suffered Thousands of Job Losses in Face of Rising
Tide of Imports," Winston-Salem Journal, October 9, 2005, p. D1.
* ^ A B Richard Craver, "Sun Gets New Deal:
La-Z-Boy to Sell
Clayton Marcus to Lexington-Rowe," Winston-Salem Journal, September
14, 2007, p. B6.
* ^ Sue Schultz, "
La-Z-Boy gets incentive from High Point,"
Greensboro News & Record, November 7, 2006, p. B2.
* ^ Arcieri, Katie (September 12, 2014). "
La-Z-Boy to close down
Lea Industries, sell off inventory".
Triad Business Journal .
Retrieved October 1, 2014.
* ^ Taylor, Cliff (16 September 2007). "
La-Z-Boy shifts to China".
New Zealand Herald . Retrieved 13 October 2011.