Bassett Announces New Division to Expand Club Level Product Line

BASSETT, Va., July 19, 2017 -- Bassett Furniture Industries, Inc. (NASDAQ:BSET), a leading manufacturer and marketer of home furnishings, today announced the formation of a new division to expand its motion product line.  The Club Level Motion Division will be led by Bruce Cohenour, senior vice president of sales and merchandising, and will focus on expanding the motion product line nationally with its independent retailers.

“Bassett continues to seek new avenues to pursue sales growth as we look to the future.  We believe that heightening our commitment to the motion category through our new Club Level Motion Division will enhance our open market sales efforts and offers a strategic complement to our HGTV HOME Design Studios and our Bassett Home Furnishings store program,” said Robert H. Spilman Jr., chairman and chief executive officer.

The new Club Level program offers fashion-forward styling, 17 leather options, and quick availability to retailers.  Other features of Club Level include the use of 100% top grain leathers, a 400-pound weight capacity, and limited lifetime warranty.  In addition, the line features powered headrests, extended footrests, and lay flat motion. 

To support the sales effort for this new division, Bassett will add sales representatives, expand its showroom space in High Point, N.C., this fall, and showcase the new line at the upcoming World Market Center in Las Vegas. 

“The new Club Level Division enables us to leverage our well-known Bassett brand name to boost visibility of these motion products,” said Mr. Cohenour.  “For 115 years, Bassett has grown and evolved in the home furnishings industry.  This new motion line of furniture will allow us to grow this category with independent furniture retailers and contribute meaningfully to our business success."

With 91 corporate-owned and licensed stores, Bassett Furniture Industries, Inc., has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth opportunity for Bassett continues to be the Company’s dedicated retail store program. Bassett’s retail strategy includes affordable custom-built furniture that can be delivered quickly. The stores also feature the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett also has a selective and growing wholesale business, with more than 700 accounts on the open market, across the United States and internationally. For more information, visit the company’s website at BassettFurniture.com (BSET-G)

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(276) 629-6614 - Investors

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(276) 629-6450 – Media