ONTARIO, CA — Bassett Furniture has entered into a licensing agreement with Office Star Products to produce a line of ready-to-assemble furniture for the home and office. The new line will debut at the Las Vegas Furniture Market, Jan. 28-Feb. 1, at the World Market Center.
The sub-brand, "Inspired by Bassett," will include seating, home office furniture, entertainment furniture and home storage products.
"Our company is excited to enter this new partnership with Bassett," Office Star Products President Rick Blumenthal said in a statement. "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."
"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,"Bassett President and CEO Robert H. Spilman, Jr. stated.
Bassett's net sales for the fourth quarter of 2012 of $76.8 million, an increase of $13.5 million, or 21%, compared to the same period a year ago. The company reported a 6.5% sales gain for the year and said it projects growth in 2013, coming from a healthier retail network and product line introductions.
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