For all its size and scope, the furniture industry is in many ways an extended family made up of myriad family businesses. Certainly, the industry encompasses diverse business models and many non-family businesses.
However, its history, culture and much of the furniture industry’s identity is tied to the strength, resilience and passion of the families that have helped to build it. To celebrate the invaluable role that family businesses, play within industry, this week’s issue of Furniture Today is celebrating 20 Family Dynasties.
Like any list, whether it is the greatest quarterbacks of all time, the 10 greatest hitters in Major League history or who is the true NBA GOAT, opinions may vary. Certainly, there are many wonderful family-run businesses worthy of celebrating, and hopefully in the years to come they will be recognized as well.
For this inaugural group, the focus was on family-owned and operated furniture retailers and manufacturers that have or have had at least three generations of family members active in the business. In truth, the challenge was not in finding them, but in curating them.
This industry is blessed with many great furniture families whose values and commitment have seen them through recessions, in some cases depression, wars, pandemics and dozens of presidential administrations. Despite the differences in the products that they make or sell, there are certain through lines that soon become evident in looking at these great dynasties.
Almost all grew from the unwavering commitment and hard-scrabble effort of a strong, visionary leader who saw an unmet need, a more efficient path or an opportunity where others saw challenge. Difficulties that crumbled competitors were opportunities for learning, adjustment and often time expansion to the founding and subsequent generations of these dynasties.
Few of these venerable furniture companies could be accused of doing what they’ve always done because that’s how they’ve always done it. Each has undergone periods of reinvention where traditional methods were challenged and updated, ways of doing business refined to adapt to changing times and market conditions.
However, each of these dynasties remains true to a core set of values, an embedded culture that serves as a guide for both current and future generations. It is these values that have enabled each of these companies to pass the baton safely from one generation to the next, not once, but many times.
As we move through a period in time when family-run businesses are being challenged to recruit and retain next-generation family members, these 20 Family Dynasties serve as a reminder of what’s possible with hard work, determination and commitment.
Please join all of us here at Furniture Today in recognizing these outstanding family-run businesses and the people who helped build them.
If you have thoughts on a family-run business that you would like to be considered for future recognition, please feel free to reach out at: [email protected].
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