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Farooq Kathwari, Ethan Allen chairman, CEO & president, on the company’s 80-year reign and how housing data impact the business.
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Debt these numbers are impacting home improvement in furniture stores here tell us about -- class on Fox News interview Ethan Allen chairman CEO and president.
-- -- -- because it's so great to have you on the show Oprah personally ask you about what we're saying well today the company.
You've got a stock that's up more than 60% of the last year but today element of ahead how do you -- on days like this.
You know.
One cannot really pay attention to what's happening on the day to day basis.
We as you rightly said in the -- yes so we're up 5070%.
But more importantly we are focused on making show that squeeze.
Continue to agreement business.
-- us sales in frees up profitability.
In fact yes he has today we started us -- -- his celebrations in Vermont this setup for the company's -- bonds are set up.
And -- to make 70% of our products -- United States.
And the room.
And we you've been there for 25 years we should mention to our viewers you yourself a -- with this company for 25 years even -- all the ups and downs one of the most impressive things I think is that.
Even able to keep 70% your manufacturing in the United States at plants.
In the United States what's the secret.
Well the secretive what Europe -- -- -- -- also indicated is the fact.
Of being around for a long time and also thinking long term making investments.
In amended -- United States is not easy.
And if you're not thinking long term if you're not continuously invest in his golf course of because you know we have great people we've got great history -- in -- have.
73 locations in China and 60% of the products -- -- from the United States and China.
And -- which is you know not.
Made by robots -- still a lot of labour even though we have not a lot of technology that we've introduced -- -- effects -- quality it's a question of craftsmanship.
And I would say it really is visibility to think long -- -- just give us an opportunity.
To retain good people and also.
To help continue to do didn't he's a business.
-- -- -- -- like many Americans I'm sure that I have -- -- walked into annuity than outlook we've all seen your stores that you do have some competition -- very.
A little bit -- a higher price side giving how do you continue especially when you -- through -- housing downturn like we just are coming out of now the last five years how do you -- -- continued.
To get back customer -- suspended Ethan Allen and not -- -- the competition not go to lazy good for example.
Well you know it really is attending the impact of globalization and -- -- has infected.
And revisit from housewares electronics and the furniture the way you differentiate it is.
By providing great service good quality you know we have 2000 interior designers.
That goes.
To a consumer's home.
We -- provides service we have a great logistics network that deliver our products at one price nationally.
And then we.
Also focused on making sure that would not based Tyler.
In fact in the last -- -- as.
We have gained 60% of our products that we -- detained -- -- 10% of that of the month.
-- 60%.
Product change means you are relevant yes there's a tremendous amount of competition.
So do you really have a big market share and you have depreciated -- great quality great style.
And service yeah otherwise you can't do it.
Eighty years eighty years -- business birth thank you very much 25 years about you've been there for a cap barring Ethan Allen chairman CEO.
And president congratulations on the anniversary thank you and good to see you again and we'll close.
