Furniture Village has bought the World of Leather brand name to bolster its top-end offer.
The mid-market to high-end furniture retailer has bought the brand name for an undisclosed sum from a holding company, under which it will develop a premium leather range. The collection will debut in September via shop-in-shops in all its stores.
Finance director Ed Duggan said: “The World of Leather brand has always been associated with top-end leather products. Acquiring it gives us the ability to bring additional high quality products and create a credible offer at that end of the leather market.”
The new range will include existing premium products as well as new lines, sourced “from all around the world”, according to Duggan.
Sofa chain World of Leather collapsed into administration in 2000.
Furniture Village also launched a value range earlier this year called Furniture Village Essentials. Duggan said that while the retailer is committed to its high-end customers it also wants to appeal to customers seeking more value deals.
He said: “Our World of Leather brand catches former customers of collapsed independents, while those in the middle market trading down will be attracted to Essentials. This is just us continuing to offer newness and choice, while making sure it’s great value.”
Furniture Village has picked up business from the collapse of MFI and Land of Leather. Managing director Peter Harrison said: “It’s a very difficult market right now but we’re a better business today than we were a year ago.”
The 36-store retailer is negotiating on two new stores and Harrison said it has the potential for 50 UK shops. The retailer, which is 20 years old this year, also wants to double its online turnover in the next 18 months. It generates £5m worth of sales through its website, which will be revamped later this year.