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Ethan Allen Looks to Bounce Back with Overseas Expansion

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    Farooq Kathwari, Ethan Allen CEO, on how the business is expanding overseas.

  • Duration 3:44
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Are what upscale furniture maker even -- kind of battle back from the recession by expanding overseas.

The company also announced -- cast dividend earlier this week.

Chairman and CEO Farouk Macquarie joins us now ninety cent dividend -- No -- it is nine cent and I says she's -- -- nine cents though the stock is up.

Basically since its lows he got sales up 4% for the fourth quarter how come what's different.

Well with different is that we have repositioned the company we our.

This year going to celebrate -- years ATA young company.

Now you don't survive for India's unless you have.

Reinvented yourself either by accident -- -- -- Now I believe that plan is -- that prisons in the last 34 years.

We have taken more steps and -- could have done in ten years because of this Great Recession.

Up -- we change 60% to -- product lines.

In -- nobody has time.

We have realistic integrated company we our manufacturing 70% of our products the United States.

We have about 300 designed sentence of 2000 into your designers.

And -- the reason this is of course being up is the fact that these 2000 into design is.

Through does that gain of the crisis and recession has enabled us again with people who have 600 new people who joined us an illustrious -- You unfortunately a delay of about 15100 during the recession and you are saying during the break that.

Many furniture stores liquidated and that hurts you to write I -- get a cheap catch up the street I'm not coming to Ethan Allen.

Well -- look at three of four years back.

New laws is Mecca -- get by a tsunami behind rental business left and right.

We had to make showed that we maintain the integrity of -- rent we -- -- joining.

This sea of sameness of trying to go out of business in fact -- and other way around be focused on -- policy be focused on service.

And and that helped us and you went overseas right you have a 69 stores in China right now this interest me so much your flagship store in Shanghai.

Shows videos of the pressure being made in North Carolina they want to buy our stuff.

Absolutely.

We have in 60% of of the problem that is being sold in.

China and Ethan Allen is made in the US guns did you new -- New Jersey we have -- in Passaic -- agency.

I said that -- -- Teddy is back and if somebody had said five or six years back that -- be shipping.

Thousands of lamps to China from Passaic new visual detail crazy that's what we -- to -- Now Chinese and that it is Asia though your focus our it is it still here in the United States -- United States is still focus we have.

In -- ninety.

I sent thus -- business in North America but won't be we are expending.

For instance of Iago in November -- going to open up a major flagship store in Brussels.

Two to go into the environment and -- exists and then -- get 0% financing doesn't act.

Well -- what it does is it makes our products more attainable and we only have good value you know we don't raise up prices -- intolerant.

But the financing a full -- makes a partial -- with the Q -- can have a great leather -- I.

Trying to and you know finance to 51 dollars.

Month I need -- bedroom -- I got four years to pay for now it's so great not to mention.

The designers are free with purchase.

-- of 2000 India designers and that really is a great great -- that we had it is it's very call.

But it could YE CEO of Ethan Allen thank you taken tan the to -- I love that China wants a violent act white leather couches.

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