Sep 26, 2003
Bassett Announces Bassettbaby Alliances
Bassett Furniture Industries Inc., a leading manufacturer and marketer of branded home furnishings, announced today it will license its Bassettbaby brand to Springs Baby Products and Little Kids(Bassett, Va.) - September 26, 2003 - Bassett Furniture Industries Inc., a leading manufacturer and marketer of branded home furnishings, announced today it will license its Bassettbaby brand to Springs Baby Products and Little Kids Preferred, LLC.
The two companies will manufacture infant and juvenile products using the Bassettbaby brand.
"By bringing the infant bedding and plush toy category together, we will be able to offer the consumer nursery packages from Bassettbaby, one of the most trusted names in the juvenile industry," said Lex Bendall, Bassett's vice president of juvenile. "It is an exciting and wonderful time in an expectant family's life and Bassettbaby wants to offer products to enhance and simplify the buying experience."
"As one of the most recognized brands in home furnishings, we want to continue to leverage the Bassettbaby brand and grow our juvenile business," said Robert H. Spilman Jr., Bassett's president and chief executive officer. "Our goal is to generate a relationship with the consumer from the time their babies are born and cultivate it throughout their lives."
"Bassettbaby complements our own brand offerings, adding a classic style known for quality and simplicity," said Lucia Fitzgerald, president of Springs Baby Products. "Working together we plan to introduce crib bedding that is as comfortable as it is beautiful."
"The Bassettbaby brand, long known for quality and style, offers us the opportunity to further develop our crib toy and room décor plush collection in a coordinated fashion utilizing today's newest fabrics combined with developmental aspects for babies," said Laura Perks, director of marketing for Little Kids Preferred.
Product offerings will be shown early next year and shipped to retailers in the second quarter of 2004.
Little Kids Preferred, LLC is a division of Kids Preferred, Inc., a New Jersey based international creator and distributor of plush tops and gifts under the brands: Baby Island, Precious Pockets, Bedtime Pals, Comfort Cuddly, Sue dreamer and Harley-Davidson. Little Kids Preferred is recognized for high quality, innovative products that include developmental toys, crib toys, musicals, dolls, collectibles and gift sets.
Springs Baby Products is a division of Springs Industries, Inc., a major home furnishings manufacturer with brands such as Wamsutta, Springmaid, Dundee, Graber and Bali as well as many other brands under license.
Founded in 1902, Bassett Furniture Industries Inc. is one of the world's leading manufacturers and marketers of branded home furnishings. Bassett's products, designed to provide quality, style and value, are sold through Bassett Furniture Direct stores, At Home with Bassett, Five Star and other furniture and department stores. The Company's common stock is traded on the NASDAQ market under the symbol BSET. More information about Bassett is available on its newly redesigned website at www.bassettfurniture.com.