Re: Quick Trip to the High Point Furniture Market Oct 2022
Yes, TK is not delivering under 10 months, its not happening any time soon. Their furniture is popular, because it has good style, is build solidly and is priced better than the competition in its class. We could sell a LOT more of it if delivery were quicker. So why is it not?
Taylor King was bought by the prior owners of Hancock & Moore quite some time ago when it was floundering. Jack Glasheen, Jimmy Moore, and Tim Rodgers got it turned around and instilled the H&M values into the place. All three of those gentlemen are retired now and this past summer Jack sold his shares to Jimmy and Tim. They are not active in the business and rarely go there, its run by Del Starnes who does an amazingly good job and he's a great guy as well.
Backlogs continue to pile up and they can only build them so fast. The ONLY solution for upper tier producers is to add production lines and that means a new building, machines and workers (that's a whole story in and of itself to find 80 or so qualified works in that region). Sherrill did it in 2021, H&M did it re-activating plant 2 in 2022, and Century did it by purchasing Classic Leather just recently. Those are all companies run and owned by younger people who don't mind pouring millions into setting up another production facility and tons of sweat equity as well. TK, owned by retirees, and just doesn't have the push from the Principles to do so. Jimmy is well into his 80's and Tim is in his 70's and retired financially secure from the sale of their companies a few years ago. I think they are both content to simply collect their checks at this point, and I don't blame them. It would take new owners at Taylor King to see a ramp-up in delivery times by adding more capacity OR a drastic fall off in orders. I don't see either happening. Were I in my 40's I would make a run at buying Taylor King and building it up further, I like that company that much. At age 68 though, I don't have that kind of energy.
We love Taylor King at The Keeping Room, but we can't get it in a timely manner either. That's why we moved to Sherrill upholstery as they are half the time frame with their new facilities and production lines - and make the same quality product for similar price points. Customers don't' mind waiting 4 to 5 months in this climate, but 10 months pushes their patience and you even start to forget what you ordered!
Last edited by drcollie; 01-20-2023 at 11:58 AM.
Duane Collie
Straight answers from thirty-six years in the business.
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