Versa-Tie a Growth Zone for Anchor Home
Company Zeroing in on Window Category as Biggest Growth Opportunity
By Cecile B. Corral -- Home Textiles Today, 8/5/2006 12:00:00 AM
Wyckoff, N.J. — —
Wyckoff, N.J. — After a successful initial run with the patented Versa-Ties decorative draw-string valances it introduced about one year ago, Anchor Home Products is tripling its assortment by expanding into the largely uncharted territory of importing.
Anchor, long a domestic manufacturer of kitchen textiles and kitchen curtains, now sees the window category as a major potential growth area. Thomas Klenert, president, explained to HTT, “Right now, we see our biggest opportunity for growing our business and importing in window.”
Hence, it is carving out two-thirds, or about 20 of its 30-plus new Versa-Ties offerings to represent new fabrications and styles it is importing from India and China, as well as a new price point range for the line.
The domestic Versa-Ties line comprises 100% cotton and cotton-polyester blend ducks that retail for $29.99. There are about 10 new such styles that are part of the new assortment.
The new imported offerings include burn-out, lace, chiffon, jacquard and linen slub fabrications as well as more intricate details like spaghetti straps and variations of the draw-string ties, all of which can command a more competitive retail price range of $14.99 to $19.99.
“We tried not to cannibalize it,” Klenert said. “We made sure that all of the things we are bringing in from overseas are different from our domestic products. They are probably about 40% less in price point, so we are protecting the domestic product.”
Versa-Ties come as single and double layers of valances, and attached panel styles are also available.
Another new offering for this market is the Versa-Tie tieback, which includes a tieback attached to a panel with a Versa-Tie tie.
Looking ahead, while the company is “taking one step at a time,” Klenert said, its new sourcing efforts have admittedly “opened a whole new world for us in terms of other product categories. We can't change everything overnight.”
Anchor is also showing this market a new category of tie-up shades, available in five styles — some of which match to new Versa-Ties styles and others that can stand alone. They, too, are imported, and comprise mainly sheer and voile constructions. The shades are set to retail for $19.99.
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