Iconic 89-year-old furniture manufacturer continues brand evolution, improving sales and customer satisfaction through more profitable concept stores
Monroe, MI (September 8, 2016) – La‑Z‑Boy today announced the milestone opening of its 100th new concept store in Prescott Valley, Arizona. These locations have the highest average volume per store of the company’s existing formats, generating approximately $4.2 million per year. La‑Z‑Boy began opening its award-winning design concept stores in 2011.
“When you introduce somebody to your product you want them to get excited, but also feel like they understand your brand,” said Mark Bacon, President, La‑Z‑Boy Branded Business. “Our new concept stores allow us to do that, keeping customers engaged in the store longer and helping improve sales.”
The new concept store embodies the La‑Z‑Boy ‘Live Life Comfortably’ tagline, with a shopping experience as comfortable as its furniture.” Located in the heart of the store, the Design Inspirations center showcases several beautiful and fully accessorized room vignettes. The rest of the store is laid out by lifestyle, from contemporary to classic, reflecting today’s shopping habits. In the Design Center, customers can use interactive technology to render any furniture piece in any of La‑Z‑Boy’s 800+ fabrics and 100+ leathers. La‑Z‑Boy also offers free In-Home Design Assistance from professionals experienced at helping turn design concepts into reality. The new store also offers a large selection of home accents and accessories to help customers create a complete look.
“Whether someone is new to La‑Z‑Boy or hasn’t bought one of our products in some time, we always hear how positively customers are responding to the selection of furniture in our La‑Z‑Boy concept stores,” Bacon said. “The store design celebrates style and comfort, while giving consumers the opportunity to truly transform their house into a home.”
In fiscal 2014, the company announced its aggressive growth strategy, 4-4-5 – operating 400 stores, averaging $4 million each, over a 5 year time period. Halfway through the initiative, La‑Z‑Boy achieved the second “4”, generating $4 million in average sales per store. The company, along with its independent dealers, are opening new stores and remodeling others to maximize consumer access to our proven new concept format. La‑Z‑Boy expects to have about 120 new concept stores in the format by fiscal year end 2017.
To find the La‑Z‑Boy store nearest you, visit: www.La‑Z‑Boy.com/storeLocator
Headquartered in Monroe, Mich., La‑Z‑Boy has been producing some of the world’s most comfortable furniture for over 85 years. The company manufactures a full line of comfortable products for the living room and family room, including the company’s world-famous recliners, reclining sofas and love seats, sleep sofas, modular furniture and leather upholstery, as well as stationary sofas, love seats and chairs. It is a division of La‑Z‑Boy Incorporated (NYSE: LZB), one of the world’s leading residential furniture producers, marketing furniture for every room of the home. "Live Life Comfortably.®"