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Thread: Hancock and Moore Price Increase

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  1. #1
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    Default Hancock and Moore Price Increase

    New price and leather regrades arrived today from Hancock and Moore. I am inundated with requests for prices and orders right now and will respond to them in the order they came in. Right now you may not get a reply on decorating advice or questions on how one compares to another. I will have to save those for when things calm down next week. Through Saturday I will be just taking orders for customers that know what they want.

    This is terrible price increase and I knew it would be. While I don't publish prices here, I will make this exception on this one only just to show you what has happened or is going to happen. I just quoted this one for a client

    Hancock and Moore NC7000-PR Recliner in HP Brownie Burnished is $ 3,415 through Sat 02/13/21. After that date $ 3,995. Cash/check prices, credit cards add 3%. Delivery fees additional.

    That's a whopping $ 580 increase on a recliner (current MSRP on that is $ 7,065 for those of you who like those numbers). So don't say I didn't warn you! And I will not be able to retro into old prices after close of business on Saturday the 13th.

    Oddly enough, they are not touching the Town and Country Promotion or the Your Way promotion at this time, but that's not because they intend to leave them as they are, they simply didn't get to them in time. Those WILL be changing, but in future weeks.

    PLEASE DO NOT CALL AND ASK IF I RECEIVED YOUR EMAIL. I have over seventy (70) to work through, it will take time.
    Last edited by drcollie; 02-11-2021 at 06:23 PM.
    Duane Collie
    Straight answers from thirty-six years in the business.
    My Private Messages are Disabled - Please ask questions here in the forum.

  2. #2
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    Default Re: Hancock and Moore Price Increase

    Wow, 17% increase. That is pretty big, they must be confident in the sustained demand.

  3. #3
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    Jan 2018
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    Default Re: Hancock and Moore Price Increase

    Is that one of the leathers that went up maybe from grade 3 to grade 4? I assume any order with a leather that goes up a grade in addition to the general across the board price increase will be impacted the most. I REALLY wish I could order one this week.

  4. #4
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    Default Re: Hancock and Moore Price Increase

    in my opinion, this is the big move that I was anticipating for several years now that Century owns Hancock and Moore. This re-grade of the leathers brings it in line with the Century leather grades (nine grades, each company) and the last of the Hancock and Moore original executives (Tim Rodgers) retired at the end of 2020. Now all the Execs at H&M are from Century, the Old Guard is all gone. Also, Century is a higher margin company than Hancock and Moore and this bring the margins in line as well. Century Furniture (I am a dealer for them as well) prefers to work in the Designer market as well, and focus on more boutique sales with Designers rather than retail stores like mine. This price increase is the shift towards all that, you will not see it ever go back to the way it was, its as much a marketing re-alignment as it is a price increase. Century never has sale periods, either - I think those are gone from H&M as well.

    After Saturday the 13th, the deals will be in the Town and Country Program and their Your Way in promotional leathers, until they get around to changing those - and they will be changing as soon as they can get to them.

    This is also why I am flooded with orders right now, a lot of people are realizing this is their last shot at getting H&M at good price points. I was at the store fifteen hours yesterday trying to keep up! Finally left at 11 p.m. as my brain couldn't process any more numbers or type one more email.
    Duane Collie
    Straight answers from thirty-six years in the business.
    My Private Messages are Disabled - Please ask questions here in the forum.

  5. #5
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    Default Re: Hancock and Moore Price Increase

    It's kind of interesting how long Century can ride on the old fame of those great people in H&M! The huge CNC machines that they bought pretty much sealed the deal for me, the writing was on the wall in the last 2 years with price increases, shrinking Just in time/T&C program. I'm going to drive to the local dealer and order couple pieces today, but that's going to be it for me.

  6. #6
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    Default Re: Hancock and Moore Price Increase

    Quote Originally Posted by Eastbayguy View Post
    It's kind of interesting how long Century can ride on the old fame of those great people in H&M! The huge CNC machines that they bought pretty much sealed the deal for me, the writing was on the wall in the last 2 years with price increases, shrinking Just in time/T&C program. I'm going to drive to the local dealer and order couple pieces today, but that's going to be it for me.
    Eastbayguy,

    What is a CNC machine?

    It seems clear that I've not kept up with everything that's going on with H&M, and what I'm learning is rather distressing. H&M always has provided such well-made, beautifully upholstered pieces and offered a top-notch selection of gorgeous hides. I'm hoping I'm misunderstanding, but what I'm reading seems to be pointing to future offerings without the hands-on, time-honored handcraftsmanship and attention to detail...but, at a steep price increase.

    Is my understanding correct?

    There are a few more H&M pieces I've thought to be in my future, but not if the superior quality goes away and/or the new powers that be make it onerous for me to work directly with Duane.

    I apologize if I'm way off base and welcome any clarification.

    TXCajun

  7. #7
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    Default Re: Hancock and Moore Price Increase

    Computerised numerically controlled (CNC) machines are electrical cum mechanical devices which are capable of controlling tools, with high-precision via a computer programming. It has been at least couple years since they started using CNC machines with 24mm plywood.

    http://www.myfurnitureforum.com/show...hlight=factory

  8. #8
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    Default Re: Hancock and Moore Price Increase

    There is no question this is a major change at Hancock and Moore, but I would caution everyone not to jump to conclusions about a decrease in quality and craftsmanship - I haven't seen it and I handle these pieces every single day. In spite of what some speculate, H&M has always been a low margin operation and was run very frugally by the founders, Jack Glasheen and Jimmy Moore. I became pretty good friends with Jack (and just spoke with him in December of this past year) and they ran a lean operation, and we would talk almost every Saturday morning on the phone.

    I remember first time I went to the main plant, I had in the back of my mind that the HQ would be this beautiful, classic, brick-columned Federal style building with a gorgeous factory at the other end of a freshly-paved parking lot (Its funny how you invent these things in your head) and when I turned down Hancock and Moore Lane in Taylorsville NC, I saw to my right an old, broken-down white factory that looked like a big chicken processing plant (which in fact it was) and I drove right past it looking for what I thought H&M should look like. The road dead-ended with a couple of houses at the turnaround so I went back to the white factory that had no sign on it and drove through the chain link fence entrance. I drove around the facility twice looking for something that would be "Factory HQ" worthy but there was nothing. So I went though the door near the loading dock that simply said "Office" on it and that turned out to be the executive offices.

    There I was warmly greeted and I said to Jack "I had a heck of a time finding this place, you don't even have a sign on the fence that says Hancock and Moore".

    And Jack said to me "Signs cost money, Duane". That's how lean they ran. And Jack's car was an older Chevy Malibu, no Mercedes in the parking lot!

    But Jack never scrimped on hiring the best workers, and it was known all around Catawba County that Hancock and Moore paid more than anyone else, so jobs there were coveted. And they never used any less than the best materials in their builds. That's how they built the brand. All meat, no sizzle. Most brands are the opposite, lots of sizzle and very little meat.

    Back to my point about margins. H&M always ran about 10 points lower on margins (the profit they make) than other manufactuers. I was always stunned when I learned their percentages in a candid conversation with Jack one day. I see this marketing and pricing increase we have pending as more in line with industry margins, which keeps the company healthy. Yes, it's going to be a more expensive product to you as the consumer. But it's not all a margin drive, supply chain prices are affecting all the companies, they are all increasing. Covid has played hell with the normal course of things and there are real shortages and real increases hitting the manufactuers.

    Don't be spooked off by the CNC machines, I have seen the run and they cut with amazing precision. In certain designs, the frame parts are actually stronger and more stable than using conventional solid woods. This is the future in the same way electric cars will overtake gas-engined ones, the handwriting is on the wall. Additionally, if you go tour the frame factory, you will see nothing but gray-haired men making those solid hardwood frames. The average age of that workforce is about 55 to 60, and they can't find younger men who want those jobs, it's a dying art.

    There are always less expensive products out there. You can buy Bradington Young, American Leather, Classic Leather, Smith Bros, and so on who build at a tier level below H&M and will cost less. They won't have the build quality of Hancock and Moore, but they will be at lesser price points. The fact is there is product at every price point, so you will have lots of choices on which to purchase. I will still say that Hancock and Moore remains the class leader in leather furniture upholstery.
    Duane Collie
    Straight answers from thirty-six years in the business.
    My Private Messages are Disabled - Please ask questions here in the forum.

  9. #9
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    Default Re: Hancock and Moore Price Increase

    New pricing for all Hancock and Moore + Jessica Charles (with the exception of the Your Way and Town and Country Promotions) goes into effect tomorrow. If you have a current quote from a dealer, be sure to get a re-quote, All dealers have the new price books now however only one copy was sent to each dealer so there may be some confusion at larger stores as they sort it all out.

    Additionally, leather were re-graded and H&M did NOT send out any stickers for the in-store samples that you look through, so be aware it may be some time before the grades on the back of the leathers are changed. The correct grade is on the H&M Website and also the Retail Price Books that each dealer received.

    My guess is a lot of dealers will get caught flat-footed on this and you *may* get a phone call after placing an order on 02/15/21 informing you there was a price and grade change and they cannot honor that price to continue your order. Be informed and ask them for the current price book and the current grades to avoid those unpleasantries.
    Duane Collie
    Straight answers from thirty-six years in the business.
    My Private Messages are Disabled - Please ask questions here in the forum.

  10. #10
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    Default Re: Hancock and Moore Price Increase

    Here's the list of grade changes on Hancock and Moore, and these include most all of the very popular burnished leathers. A lot of customers who were "thinking" of ordering Hancock and Moore are going to be in for a pretty big shock on the current pricing that is now in effect. I fear it will take H&M out of the reach for many in the leathers they wanted to buy, we will find out in months to come.

    All is not totally lost to still get a deal however. The Town and Country Program (its listed here in this section of the forum) is still in effect FOR NOW. Also, the Your Way Program in promotional leathers. These were all going to change on 02/15/21 (and everything in a burnished leather removed from the program) but it all was temporarily shelved as there was a bit of an uproar over all that was being taken out. So its getting revised and we will probably have another 4 to 5 weeks of using these as they now exist. Now you have a "heads up" on where the best deals are by far - Town and Country Program or Your Way Promotional. Especially anything in a burnished leather. I know I intend to order as many pieces as I can comfortably put into my warehouse because I don't think prices will ever again be this good. And if I'm ordering, you should be too.

    I suspect the T&C Program will be cut back in the number of frames, the burnished leather items may be gone entirely, and you will see perhaps a 20% increase in price when the revisions come out.
    Duane Collie
    Straight answers from thirty-six years in the business.
    My Private Messages are Disabled - Please ask questions here in the forum.

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