Office Star Products Announces Licensing Agreement with Bassett

Office Star Products Announces Licensing Agreement with BassettONTARIO, CA — Office Star Products has entered into a licensing agreement with Bassett Furniture Industries, Inc. (Nasdaq:BSET), a leading manufacturer of high quality home furnishings for more than a century.

Under the terms of agreement, Office Star Products will continue the legacy through the introduction of a new sub-brand, Inspired by Bassett. The new collection will offer a full-line of quality, ready-to-assemble (RTA) furniture for the home and office that will include Office Seating, Home Office Furniture, Home Accent, Entry, Entertainment and Storage.

"Our company is excited to enter this new partnership with Bassett," said Rick Blumenthal, Office Star Products President. "The new Inspired by Bassett collection will provide a tremendous opportunity for sales growth to our warehouse club, office superstore, mass and e-commerce customers. Selections will include a mix of traditional and transitional designs under the name of one of America's most trusted brands," adds Blumenthal.

"The Bassett brand is a significant asset that requires proper stewardship. In choosing Office Star Products to pursue new channels-of-distribution, we believe that we have chosen a financially sound partner that exhibits operational excellence on a day-to-day basis. The Inspired by Bassett sub-brand will present us with growth opportunities in a fashion that is in complete alignment with our current business model," said Robert H. Spilman, Jr., Bassett's President and Chief Executive Officer.

Founded in 1987, Office Star Products is headquartered in Ontario, California within a state-of-the-art 32-bay, 206,000 square foot facility that also houses customer service, fabrication, warehousing and shipping. An additional 32-bay, 200,000 square foot warehouse and distribution center built in 2005 is located in nearby Fontana, California. Other Office Star Products warehouse and showroom facilities are strategically located throughout North America and include Teterboro, NJ, Austell GA and Concord, Ontario (near Toronto). Office Star Products also has permanent showrooms in High Point, NC and Las Vegas, NV.

Office Star Products will debut the new Inspired by Bassett collection during the upcoming Winter Las Vegas Furniture Market, Building B, Showroom 1201.

Source: Office Star Products


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