Why Would Kohl’s Buy Home Decor Chain At Home?
Kohl’s (KSS) can be seeking to expand its domestic precise business as it’s far reportedly eyeing up domestic decor chain At HoSafavieh Home Furnishings announced the grand opening of its newest retail location at 150 Thompson Street in New York City. This 7,500-square-foot showroom will open June 1, 2019, and is located in the SoHo neighborhood.
“This new location is a dedication of Safavieh to provide New York City with the best and most beautiful modern furniture, rugs, and accessories for homes all over the state,“ says Darioush Yaraghi, Senior Vice President and Creative Director of Safavieh Home Furnishings.
For more than 40 years, Safavieh has grown from an artisan family business to a corporation with sophisticated manufacturing and distribution operations. It has grown from one showroom on Madison Avenue to 13 retail stores in the tri-state area, with 2 million square feet of warehouse space and manufacturing facilities on three continents.
Safavieh SoHo will have brands from Baker, Ralph Lauren, Thayer Coggin, Bernhardt Interiors, Glas Italia, American Leather, Lee Industries, Trica, Century, BDI, Phillips Collection, Hickory Chair, Visual Comfort, Global Views, Arteriors, plus many more. Safavieh SoHo will offer a selection of Safavieh rugs and Safavieh Couture, their exclusive 1,000-plus-piece fashion-forward line that includes furniture, upholstery, lighting accessories. Safavieh SoHo’s design staff will provide complimentary interior design service. Me (HOME) for a likely buy.
If the deal actions forward, Kohl’s home goods series might get the main increase from the deal, which now debts for a small portion of its business, CNBC mentioned. Kohl’s also sells women’s men’s and youngsters’ garb.
According to resources for the information outlet, Kohl’s has been purchasing At Home for the last three months and is presently in the advanced tiers of deal negotiations with private fairness firms, including Hellman & Friedman.
The assets did say that the deal between the two retailers is not sure as At Home should instead prefer to promote to a buyout firm.
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Shares of Kohl’s stock had been down zero. Forty-four percent as of 12:32 p.M. ET on Thursday whilst shares of At Home inventory were up to four.89 percentage at the identical time.
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