Ethan Allen to open retail stores in U.K

Wood & Wood Products, Nov, 2001

RESIDENTIAL FURNITURE Maker Ethan Allen Interiors Inc. of Danbury, CT, announced that it has formed a joint venture with MFI Furniture Group Plc of the United Kingdom to open retail stores in the U.K.

In the initial phase, the joint venture company will open up to five stores of about 10,000 square feet, the first one opening in London by May 2002. The stores will sell furniture made by Ethan Allen, mostly from its U.S. factories.

Both companies will invest about $2.9 million and own half of the joint venture company. MFI is one of the largest manufacturers and retailers of residential furniture in the U.K.

Earlier this year, Ethan Allen reached a similar agreement with Chinese furniture manufacturer Markor to open retail stores in China. Kelly Maicon, Ethan Allen press contact, said "Our goal is to eventually open more stores in many parts of the world."