Page 16 - enLIGHTenment Magazine - September 2016

In the news

ELK’s Acquisition of

Stein World Is Good

News for Buyers

T
hrough its various brands — throughout,” Smith adds.
particularly Sterling, Lamp With both companies operated by

Works, GuildMaster, and
private equity groups, the timing was
Acclaim
Dimond Home — the ELK Group has perfect for an acquisition to occur,
been able to o er a wide range of Smith says. “The appreciable scale

price points in the mid to high range created by this partnership, together Lighting
for lamps and furniture. “We didn’t with our existing brands, earns us the

have a mainstream price point, so this distinction of being one of the largest Acquires

is really exciting for us,” notes Brad suppliers of home furnishings in the
Smith, CEO of ELK Group.
industry,” he remarks. “This means Trend

Another plus is Stein World’s strong even greater product selection and
relationships with the top 100 furni- money-saving bene ts for our custom-
Lighting’s
ture stores in the country. “To be able ers, rmly moving us in the direction

to come up with a cross collection of of our goal to become the most Assets
lamps, mirrors, and furniture that all competitive line of products among

[complements each other] makes it our client base.”
easier for the buyers,” Smith states.
“The combined organizational
F
Stein World’s distribution, design strength of design sourcing and or those residential lighting

team, and many of its employees will logistics will bring the best of every- industry members who did not
remain in place at that company’s thing to our customers,” adds Dan see the signage in the former

facility in Memphis, Tennessee. While Masters, President of Stein World. Trend Lighting showroom at the Dallas
ELK Group maintains a 1.2-million- “ELK and Stein World together can Market Center during Lightovation,

sq.- . warehouse at its Pennsylvania leverage their purchasing power to Acclaim Lighting, Inc., headquartered in

headquarters, there simply isn’t provide an even greater value to the Thomson, Ga., has acquired the assets
enough room to accommodate
marketplace, creating a tremendous of Trend Lighting, Corp., the well-known

Stein World’s 300,000-sq.- . of single source for retailers.”
California-based lighting manufacturer
warehouse space. With distribution that closed its doors last fall when its

remaining the same, customers’ ship- founders (Thomas and Tracy Huang)
“We don’t want to
ping will be una ected. Another plus retired.
for Stein World customers is the fact A decorative lighting manufacturer
change Stein World.
that the styles will remain consistent since 2003, Acclaim Lighting will
with the brand.
There might be some reintroduce the Contemporary-style

“We don’t want to change Stein [tweaks] in nishes Trend product line to the residential

World,” Smith explains, adding, “There retail channel this fall in an initial launch
might be some [tweaks] in nishes or or techniques that comprised of best-sellers as well as

techniques that keep us moving in a keep us moving in a
newly developed xtures. The Huang
forward direction.” To that end, the family will consult during the transition.

Stein World design team will coordi- forward direction.”
“We are excited to associate our-

nate its trend boards and forecasting selves with the Trend brand which has
with the specialized designers at ELK —Brad Smith
been a symbol of style and quality for

Group “so we can all spot that next 35 years” says Ray Dallavecchia III, CEO
trend and have elements of each
of Acclaim Lighting.

14 enLIGHTenment Magazine | SepteMber 2016
www.enlightenmentmag.com