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| Krause's Furniture |
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The Challenge |
Krause's Furniture, Inc. (AMX:KFI), the largest combined retailer and manufacturer of custom-crafted leather and upholstered furniture in the U.S., wanted to expand nationwide and build long-term share holder value. |
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The Solution |
As a means to handle Krause's growth goal, a strategic two-phase expansion plan was developed with Krause's in-house real estate department. Phase I featured the opening of new showrooms in existing markets, evaluating existing store placement and determining relocations. Phase II involved extensive market and trade area analysis, developing a store placement strategy in new markets, and accelerating the acquisition of new showroom sites. Simultaneously, a national marketing campaign was created, including a feature article in Shopping Center Business magasine, advertisements and flyers. |
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"From the outset, our affiliation with CB Richard Ellis has enabled us to more expeditiously complete Phase I of our expansion strategy," said Phillip M. Hawley, Chairman and Chief Executive Officer of Krause's Furniture.
"The resources of CB Richard Ellis have helped us evaluate new geographic areas for Phase II of our expansion. This has enabled us to identify optimal new markets and has increased our acquisition of our new showroom sites." |
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