11132018 Strong Introductions Drive 2018 Sales Growth for Rug Maker LR Resources Lisa Vincenti
STRONG INTRODUCTIONS DRIVE 2018 SALES GROWTH FOR LR RESOURCES
The traditional designs of LR Resources' new high quality, value-driven indoor-outdoor Antiquity collection were a fall market hit with buyers (detail shown).
DALTON, Ga. -- LR Resources expects to end 2018 up from a year earlier thanks to strong product introductions throughout the year and expansion of its ever-popular Naturals collection.
"The fourth quarter looks very strong, up from last year same period," said Mike Thompson, vice president of sales and general manager for LR Resources."Summer through September was soft, but it picked up in October and we will end up ahead of last year when all is said and done."
While fall shoppers responded to the variety of styles in LR Resources' wool tufted Divergence collection, contemporary designs ranked as top sellers in High Point.
For last month's fall High Point Market, the 15-year-old family run business introduced two new collections that scored points with buyers. The hand-tufted Divergence, which includes a diverse portfolio of styles from contemporary abstracts to Kazak designs, features a wool loop pile that is priced to retail under $300 in 5x7. "The contemporary designs sold very well in High Point and the Kazak designs did well too. Based on market response, I also expect the florals to perform well regionally," Thompson elaborated.
Erased look Persian designs in the machine made in-out Antiquity collection were winners at LR Resources' High Point showroom.
Antiquity, another debut at the fall High Point show, also caught the attention of buyers tuned into growing consumer preference for formal Persian designs in the all-weather category. The value-driven assortment is machine-made, and crafted of polypropylene with easy-care indoor-outdoor performance properties.
"Antiquity was a hit: Buyers did double takes at the collection's quality, color and design for indoor-outdoor rugs. It's a zero pile, Persian-look in a machine-made indoor-outdoor construction designed to sell under $250 in the 5'x7' size. The response has been very, very good."
Earlier in the year, LR Resources added a new collection to its immensely popular Naturals assortment, which combines jute with cotton and chenille, and grew out of the company's accent rug program. The Bleached Naturals collection, made of jute and chenille, takes the Naturals category to another level by bleaching the jute and interweaving it with color.
LR Resources grows its successful hand-loomed Naturals collection with a Bleached Naturals line that interweaves bleached jute and colored yarns for updated looks.
"We continue to innovate with color and design in our Naturals looks, and the addition of Bleached Naturals has really taken off." Thompson said." In addition, our hand-tufted wool collections have performed well through our use of better wool and focusing on introducing great designs."
For LR Resources, the Naturals collection, which is hand-loomed, proves to be the company's best seller. And, among the company's hand-tufted collections, Modern Traditions, Karma and Pin Dot performed very well in 2018.
Modern Traditions is among LR Resources' top selling hand-tufted collections in 2018.
"For e-commerce, our biggest category of area rugs is machine made," Thompson said, noting that he oversees the company's direct sales to brick and mortar stores and furniture retailers. For online clients, LR Resources creates machine-made designs tailored to that category, such as the recently introduced Gala collection.
Above, the hand-tufted Karma, and below Pin Dot, also tufted, pictured below, were strong 2018 performers for LR Resources.
Designed for brick and mortar stores and furniture retailers, the machine-made Gala collection was a strong seller for LR Resources in 2018.