David Furniture Age, Dorel Home Furnings Hit Record $15 Million Sale
Posted On August 1, 2021
Posted January 26, 2019 06:18:58Dorel, the oldest home furnishing company in the United States, sold a record $15 million in sales on Wednesday to a private equity firm, marking the latest in a string of record sales in the industry.
The company, which has been making furnishings for more than 70 years, has sold more than 2 million items since it was founded in 1958.
Its inventory stands at nearly $2 billion.
David Furniture has been in the top 10 of the most-wanted listings on the Web since it started selling in October, and it reported that its business had more than doubled in value in the last 12 months.
The new sale comes at a time when other companies are trying to cash in on a surging craze for home furnishers, with Home Depot selling $50 million worth of furniture in October alone.
The sale also brings David Furnishings brand into the home decor market, where it’s already a leader.
David is in the midst of its second annual sale, with more than 3,000 homes in the works and plans to sell more than 10,000.
The company said it expects to sell the most of any firm on its sales.
The deal is subject to closing conditions, which are expected to be finalized in coming weeks.