Ethan Allen Interiors Inc. is an American manufacturer and retailer of home furnishings, incorporated in

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

with executive offices in

Danbury, Connecticut Danbury ( ) is a city in Fairfield County, Connecticut, United States, located approximately northeast of New York City. Danbury's population as of 2020 was 86,518. It is the third-largest city in Western Connecticut, and the seventh-largest ...

. As of June 30, 2023, the company reported net annual sales of $791.4 million.

Operations

As of June 30, 2023, Ethan Allen operates 139 retail design centers, with 135 located in the United States and four in Canada. Additional design centers are operated by independent licensees located in the U.S., Asia (including the Middle East), and Europe. The company makes customized furniture domestically ( Maiden, North Carolina), such as upholstered furniture, sofas, and chairs, custom made in a selected fabric.

History

20th century

The company was founded as a housewares manufacturer in 1932 by Theodore Baumritter and his brother-in-law Nathan S. Ancell. They bought a bankrupt furniture factory in

Beecher Falls, Vermont Beecher Falls is a census-designated place in the town of Canaan, Essex County, Vermont, United States. Beecher Falls is located on the Connecticut River across from Stewartstown, New Hampshire Stewartstown is a town in Coös County, New Hamp ...

in 1936 and adopted the name "Ethan Allen" for its early-American furniture introduced in 1939, after the Vermont Revolutionary War leader

Ethan Allen Ethan Allen ( – February 12, 1789) was an American farmer, writer, military officer and politician. He is best known as one of the founders of Vermont and for the capture of Fort Ticonderoga during the American Revolutionary War, and wa ...

. In 1972, the Baumritter Corporation moved its headquarters from New York City to Danbury, Connecticut. In the late 1970s, the Baumritter Corporation officially changed its name to Ethan Allen. The Ethan Allen International Headquarters Complex includes the Ethan Allen Hotel, corporate headquarters offices, and an interior design center. The firm was sold in 1980 to Interco for $150 million, with Ancell remaining as an advisor. The company was sold again in 1989 to a management group headed by current chairman, president, and CEO

Farooq Kathwari Farooq Kathwari (born 1944), is a Kashmiri-American businessman and philanthropist who is the Chairman, CEO, and President of Ethan Allen Interiors. Life Kathwari emigrated to the United States in 1965. He has been leading Ethan Allen Inter ...

. In 1993, the company went public to help raise $156.9 million through the sale of common stock.

21st century

In 2004, Ethan Allen closed its two plants in

Boonville, New York Boonville is a town in Oneida County, New York, United States. The town is in the northeastern section of the county. The population was 4,555 at the 2010 census. The town includes a village, also called Boonville. The town and village are name ...

and Bridgewater, Virginia, laying off 250 each. In 2008, the company announced plans to close a dozen design centers. The decision was made to consolidate the design centers with others that were currently serving the same market area. In 2009, the company laid off 238 workers in

; 93 workers remained. In 2021, during the 2021 cryptocurrency boom, the company's stock price increased as investors confused the company's stock with

Ethereum Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-s ...

, with which it shared the

ticker symbol A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded Share (finance), shares of a particular stock or Security (finance), security on a particular stock exchange. Ticker symbols are arrangements of symbols ...

ETH. Ethan Allen updated its ticker symbol to ETD on August 16, 2021. In 2022, Ethan Allen completed the purchase of Dimension Wood Products, Inc., which expanded Ethan Allen's manufacturing base in

North America North America is a continent in the Northern Hemisphere, Northern and Western Hemisphere, Western hemispheres. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South Ameri ...

. This purchase resulted in the strengthening of Ethan Allen's

vertical integration In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each ...

and

supply chain A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distri ...

Manufacturing plants

Wood Furniture

(sawmill and machining) * Choloma,

Puerto Cortés Puerto Cortés, originally known as Puerto de Caballos, is a port city and municipality on the north Caribbean coast of Honduras, right on the Laguna de Alvarado, north of San Pedro Sula and east of Omoa, with a natural bay. The present city w ...

, Honduras (machining through finishing) * Old Fort, North Carolina (lumber processing) * Orleans, Vermont (machining, veneering, and finishing)

Upholstery

Claremont, North Carolina Claremont is a city in Catawba County, North Carolina, United States. The population was 1,352 at the 2010 census. It is part of the Hickory– Lenoir– Morganton Metropolitan Statistical Area. History Originally known as Charlotte Cros ...

(fabric upholstery) * Silao, Guanajuato, Mexico (fabric and leather upholstery)

References

External links

*
Spotlight on Ethan Allen - Toronto
{{DEFAULTSORT:Ethan Allen (furniture Company) Companies listed on the New York Stock Exchange Furniture retailers of the United States Manufacturing companies established in 1932 Companies based in Danbury, Connecticut Barton, Vermont Retail companies established in 1932