Ethan Allen --- The Interior Design Business
Ethan Allen Interiors Inc. designs, manufacturers, sources, and sells a full range of quality home furnishing through our network of more than 300 Ethan Allen design centers. As of December 31, 2006, Ethan Allen owned 149 of the retail design centers, including five in Canada, and licensees owned 158, including 29 international locations. Ethan Allen owns nine manufacturing operations in the United States and balances domestic production with global sourcing. Our brand is known for style, quality, value, and service.
2007 marks Ethan Allen's 75th anniversary in business. Over the years, we have made changes to stay in step with the changing needs and lifestyles of their customers. Ethan Allen design centers provide free design consultation; walk-through lifestyle environments; custom and in-store decorating options; everyday best pricing; free local delivery; and convenient financing. Each of these services makes it easier, faster, and more affordable for people to decorate their homes in Ethan Allen's true American style: individual, eclectic, innovative, and spirited.
Ethan Allen's focus on interior design has made this service an affordable luxury for millions of consumers. We have strengthened our pool of more than 3,000 talented design professionals with higher recruitment standards, new training programs, and a system of project management support to provide customers with the total experience of great service.
Ethan Allen products are inspired by the diversity of designs from all parts of the world; they offer stylish detail and better quality at a good value. About 80% of our products are new within the past four years. Our ongoing introductions of stylish new casual and classic furnishings expands Ethan Allen's appeal to a broader consumer base.
Opening new design centers and relocating existing ones to more convenient, higher traffic locations continues to be an important growth driver. We expect to open or relocate fifteen to twenty design centers in 2007.
It is our objective to continue to improve each aspect of our business and to maintain great credibility within our own organization, with our customers, and with our investors. Ethan Allen is a fiscally sound and highly motivated company that is well positioned for growth.
