BASSETT, Va., Oct. 6, 2015 (GLOBE NEWSWIRE) -- Bassett Furniture (NASDAQ:BSET) will extend its partnership with HGTV, a division of Scripps Networks, LLC., through 2019. Building on the licensing agreement that began in 2012, Bassett will continue to feature HGTV branded custom upholstery products in HGTV HOME Design Studios in Bassett Home Furnishings stores and will now expand the concept to select independent dealers this fall.
"The HGTV HOME Design Studio is an important point of differentiation for our stores and is playing a key role in our improved comparable store sales," said Robert H. Spilman Jr., president and CEO of Bassett Furniture. "We are excited about offering this successful program to our key independent dealers and leveraging our national advertising efforts on HGTV's network and on our website."
HGTV continues to be a significant advertising vehicle for Bassett on a national scale. With this new agreement, Bassett stores and independent retailers will be supported by local and national television advertising, digital marketing and direct mail starting with the HGTV HOME Custom Furniture Sale that will be promoted later this month.
"Bassett continues to be a great partner with HGTV," said Ron Feinbaum, senior vice president and GM of consumer products for the home category. "We are pleased the partnership is extending and look forward to its growth."
In 2011, Bassett announced the formation of a strategic partnership with HGTV which combines the company's 113 year heritage in the furniture industry with the penetration of 96 million households in the United States that HGTV enjoys today. As part of this alliance, the in-store design centers were co-branded with HGTV to market the concept of a "home makeover", an important point of differentiation for Bassett stores that also mirrors much of the programming content on the HGTV network.
About Bassett Furniture Industries, Inc.
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 92 company- and licensee-owned stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth opportunity for Bassett continues to be the Company's dedicated retail store program. Bassett's retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the
latest on-trend furniture styles, more than 1,000 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. Bassett is also growing its traditional wholesale business with more than 600 accounts on the open market, across the United States and internationally. For more information, visit the Company's website at bassettfurniture.com. (BSET-G)
America's leading home and lifestyle brand, HGTV features a top-rated cable network that is distributed to more than 96 million U.S. households and HGTV.com, the premier source for home-related inspiration, instruction and entertainment, attracts more than six million people each month. The brand also includes the HGTV HOME™ consumer products line which showcases exclusive collections of paint, flooring, furniture, plants and other home-oriented products. For more information on HGTV HOME branded products and to find a retailer, go to www.hgtvhome.com. In partnership with Hearst Magazines, the HGTV Magazine, a home and lifestyle publication, is
currently available on newsstands. Viewers can become fans of HGTV and interact with other home improvement enthusiasts through Facebook, Twitter, Pinterest and Instagram. Headquartered in Knoxville, Tenn., HGTV is owned by Scripps Networks Interactive, Inc. (SNI).
CONTACT: J. Michael Daniel, Senior Vice President
and Chief Financial Officer
(276) 629-6614 - Investors
Jay S. Moore, Director of Communications
(276) 629-6450 - Media
Source: Bassett Furniture Industries, Inc.
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