Rearranging The Furniture At Ethan Allen
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Bright purple chairs. Black leather sofas. Computer tables for the home office. Can this be Ethan Allen, that bastion of colonial credenzas and chintz couches? "It's not what you'd think of as classical Ethan Allen," admits Edward P. Schade, chief financial officer of Ethan Allen Interiors Inc.
That's exactly what Chief Executive M. Farooq Kathwari wants. Since leading a management buyout of the company in 1989, the reserved, 49-year-old native of Kashmir has refashioned the 284-outlet furniture seller to appeal to younger shoppers. He has remade the product line using modern styles, slashed prices as much as 15%, and even opened Ethan Allen stores in malls to reach yuppies where they shop.