| Bob's Discount Furniture | |
|---|---|
 | |
| Type | Private |
| Founded | 1991 |
| Founder | Bob Kaufman and Gene Rosenberg[1] |
| Headquarters | Manchester, Connecticut, U.S. |
| No. of locations | 30 stores (2007)[2] |
| Area served | Northeastern United States |
| Key people | Robert (Bob) Kaufman (president) Stanley (Stan) Adelstein (chairman) Edmond J. (Ted) English (CEO) Bill Ballou (CFO) Steven Caprario (COO) Catherine (Cathy) Poulin(Director, Public Relations) Michael Alpert (Regional Manager, Connecticut and Rhode Island)[3] |
| Industry | Furniture retail |
| Products | Furniture, Bedding, Mattresses |
| Revenue |  US$ 329.3 million (2006)[4] |
| Owner | Apax Partners Worldwide (Saunders Karp & Megrue): 70%[5][6][7][8] |
| Employees | 1,300 (2004)[5] |
| Website | www.mybobs.com |
Bob's Discount Furniture is a privately-owned regional chain of furniture stores in the Northeastern United States, primarily New England. As of 2007, the company has 30 stores located in Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, and Rhode Island.[9][2] The company was founded in 1991 with its first store in Newington, Connecticut.[1] Bob's Discount Furniture is based in Manchester, Connecticut and is ranked 30th among U.S. furniture stores, with estimated 2006 sales of $329.3 million.[4] In addition to being known for its distinctive advertisements, the company is also known for offering amenities at many of its stores, which may include in-store miniature golf, home theaters, and video arcades, and complimentary refreshments.[2][10][11]
Contents |
History
In 1976, future company co-founder Bob Kaufman had a motorcycle accident, injuring him and prompting him to use a waterbed for recuperation.[1][12] The experience prompted Kaufman to become involved with waterbed sales, and during the 1980s, he had rented space in 24 New England stores for selling waterbeds.[1][12] By 1990, waterbed sales had dwindled and Kaufman partnered with Gene Rosenberg (owner of Wholesale Furniture, where Kaufman had rented space for waterbed sales); at this point, Rosenberg acquired a building in Newington, Connecticut previously owned by a furniture company that had become bankrupt.[1][12] In 1991, the Newington, Connecticut location became the first Bob's Discount Furniture store.[1][5] The company was initially co-owned by Rosenberg (two-thirds) and Kaufman (one-third).[1] As time progressed, the company expanded to additional locations, often acquiring buildings that had been vacated by tenants that had become bankrupt during recession.[1] By 1997, the company operated a dozen stores in Connecticut and two in western Massachusetts.[1] The ability of the company to grow during is early years in spite of unfavorable economic conditions has been partially attributed to the company's extensive use of commercials.[1][5] In early 2005, the investment firm Saunders Karp & Megrue acquired 70 percent ownership of Bob's Discount Furniture; subsequently, Saunders Karp & Megrue was acquired by Apax Partners Worldwide in March 2005.[5][6][7][8] In November 2006, Edmond (Ted) English, former president and CEO of TJX Companies, became the CEO of Bob's Discount Furniture, replacing Stan Adelstein, who became chairman.[11][3][13] By this point, Bob's Discount Furniture had recently expanded into Rhode Island, New Jersey, and New York.[11]
Advertising
Bob's Discount Furniture is widely recognized for its characteristic advertising. Kaufman has been characterized as "something of a celebrity in the Northeast, thanks to his quirky television commercials".[3] As of 1997, the company broadcast roughly 500 commercials a week in Connecticut on network and cable television stations.[1]. More recently, the commercials have become common during broadcasts of Boston Red Sox games.[14] The commercials usually feature company president Bob Kaufman, typically wearing jeans and a golf shirt or turtleneck, and have also included Cathy Poulin, the company's Director of Public Relations.[5][3][15][16] The commercials have been characterized as "amateurish",[16] "unconventional",[10] and "wacky",[10] and viewer reaction to the commercials is mixed, with some disliking the advertisements.[1] The advertisements often feature catchphrases, including "I doubt it!", "Gotcha!", "Untouchable!", "Lickety-split delivery!", "It's a no-brainer!", and most famously, "Come on down!".[1][16] Recently, the company hired William Newton to appear in Bob's Discount Furniture commercials on Spanish stations, such as Telemundo.[17]
Community involvement
Bob's Discount Furniture has received significant attention for its community involvement. The company has been recognized by the American Red Cross for its blood drives and financial contributions to the organization.[18][19] Bob's Discount Furniture has also been involved in food drives and conducts a "Celebrate the Arts Contest" to provide grants to New England schools.[20][21][22] As of 2005, the company's charitable contributions totaled about $1 million a year.[7]
References
- ^ a b c d e f g h i j k l m Ryan, Bill. Now About Bob and Those TV Spots... The New York Times. Section 14CN, Page 1. November 30, 1997.
- ^ a b c Bob's Discount Furniture Celebrates The Opening Of Its 30th Location Next Thursday, August 30th In Monmouth Junction, New Jersey. August 23, 2007. Last accessed September 14, 2007.
- ^ a b c d Company profile from Hoover's, Inc.. Last accessed September 15, 2007.
- ^ a b Top 100 U.S. Furniture Stores. Furniture Today. May 28, 2007. Volume 31, Issue 37, p. 26.
- ^ a b c d e f Marks, Paul. New Investors Have 'Come on Down' To Bob's Discount Furniture (article preview). The Hartford Courant. February 1, 2005. E1. Last accessed September 15, 2007.
- ^ a b Saunders Karp & Megrue Completes Recapitalization of Bob's Discount Furniture (press release). January 31, 2005. Last accessed September 14, 2007.
- ^ a b c Engel, Cliff. Firm buys 70% stake in Bob's. Furniture Today. February 7, 2005. Last accessed September 14, 2007.
- ^ a b French, Howard. Bob's moving into Rhode Island. Journal Inquirer. July 19, 2006. Last accessed September 14, 2007.
- ^ http://www.mybobs.com/locations/default.asp
- ^ a b c Netter, Sarah. More than prices are down-to-earth at Bob's. Journal Inquirer. May 30, 2002.
- ^ a b c Cronin, Anthony. Former TJX CEO joining Bob's Discount Furniture. The Day (New London, CT). Business and Financial News. November 8, 2006.
- ^ a b c http://www.mybobs.com/about/default.asp Last accessed September 14, 2007.
- ^ Engel, Clint. Bob's Discount names TJX veteran English to CEO post. Furniture Today. November 13, 2006. Last accessed September 14, 2007.
- ^ Aucoin, Don. Bigmouth Strikes Again. The Boston Globe. Living, p. C3. July 8, 2006.
- ^ Fillo, Maryellen. Is Bob's Sidekick Gone? I Doubt It! (article preview). The Hartford Courant. Life section. September 23, 2006. Last accessed September 14, 2007.
- ^ a b c Gomez, Michael. It's Bob's World, We Just Sit in It. Business New Haven. March 20, 2000. Last accessed September 14, 2007.
- ^ Fillo, Maryellen. Java. The Hartford Courant. Life section, p. D2. August 9, 2007.
- ^ Red Cross salutes Bob's Discount. Furniture Today. June 29, 2005. Last accessed September 14, 2007.
- ^ http://www.mybobssquad.com/history/default.asp
- ^ Bob's Furniture to collect food for local food banks (article preview). Nashua Telegraph. August 30, 2004. Last accessed September 14, 2007.
- ^ Collins, Megan. Furniture store's grant will help Pleasant Valley Elementary's arts program. Journal Inquirer. September 9, 2006. Last accessed September 15, 2007.
- ^ http://www.mybobs.com/celebrate_arts/default.asp
External links
