Profile: Bassett Furniture Industries Inc (BSET.O)
29 Jul 2016
Bassett Furniture Industries, Incorporated, incorporated on November 15, 2010, is a manufacturer, importer and retailer of home furnishings. The Company's segments include Wholesale, Retail – Company-owned stores and Logistical services. Its range of furniture products and accessories are sold through a nation-wide network of over 90 retail stores known as Bassett Home Furnishings (BHF). As of November 28, 2015, BHF store network included approximately 60 Company-owned stores and over 30 licensee-owned stores. The Company, through its Website, www.bassettfurniture.com, enables consumers to research and purchase its merchandise online. In addition, the Company distributes its products through other multi-line furniture stores, many of which feature Bassett galleries or design centers, specialty stores and mass merchants. The Company also holds investments in retail store properties.
The Company is engaged in producing hand crafted living room, dining room and bedroom furniture. Its offerings in living room furniture include Sofas, Sectionals, Accent Chairs, Recliners, Reclining Sofas, Sleeper Sofas, Coffee Tables, Benches, Accent Tables, Bookcases, Lamps and Wall Sconces. Its offerings in dining room furniture include Round Tables, Rectangular Tables, Oval Tables, Wood, Upholstered, Benches, Open Shelving and Decorative Mirrors. Its offerings in bedroom furniture include Wood Beds, Mattresses, Accent Chests, Bedding and Pillows. Its offerings in storage and office include Storage Cabinets, Entertainment Centers, Open Shelving, Office Chairs and Home Office Storage. Its offerings for baby and kids include Cribs, Chests, Dressers, Mirrors and Area Rugs. In addition, the Company features HGTV branded custom upholstery products in its HGTV HOME Design Studios in Bassett Home Furnishings stores. Its portfolio of products includes Canopy Bed, Nightstands, Baby Bedding, Bedside Tables, Chaise Lounge, Writing Desks, Kitchen Furniture, Computer Hutch, Game Tables and Fabric Ottomans.
The Company's wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers. Its wholesale segment includes wood and upholstery operations, as well as all corporate selling, general and administrative expenses, including those corporate expenses related to both Company- and licensee-owned stores. The Company operates wholesale segment through its facilities located in Martinsville, Virginia; Newton, North Carolina, and Bassett, Virginia.
Retail – Company-owned stores
The Company's retail segment consists of Company-owned stores. The Company operates retail segment through its facilities located in North Carolina, South Carolina, Tennessee, Kentucky and Nevada, among others.
The Company operates its logistical services segment through its subsidiary, Zenith Freight Lines, LLC (Zenith). Zenith provides shipping, delivery and warehousing services. It also provides services to customers, primarily in the furniture industry. Its customer solutions are provided through services, such as network line haul freight, home delivery services to end-consumer, as well as warehousing, distribution and inventory management. The Company operates logistical services segment through its facilities located in Conover, North Carolina.
Bassett Furniture Industries Inc
PO Box 626
BASSETT VA 24055-0626