With completion in the spring of 1928, the first La-Z-Boy wooden patio chair had a swinging link that simultaneously pushed the seat forward and also tilted back.
In 1929 the pair introduced their first upholstered recliner, thus establishing the template responsible for the company's enormous success in subsequent decades.
In 1969, after years primarily as a manufacturer of recliners, La-Z-Boy started designing other products including reclining sofas, sleep sofas and modular groups.
1981 sales were $150 million.
Richard R. Allen, Don A. Hunziker and William O. Fenn borrowed $70 million to buy Lea, American Drew and Daystrom from Sperry & Hutchinson in 1981.
LADD, whose name came from the three companies, began trading publicly in 1982.
In 1983, La-Z-Boy introduced its first line of stationary sofas and occasional chairs, later offering a full line of home furnishings.
LADD was the third-largest American maker of furniture for homes, with over $600 million in sales, when it bought six Maytag businesses in 1990.
LADD Industries moved from High Point, North Carolina to Grandover in Greensboro, North Carolina in November 1997, becoming the first company to locate its headquarters there.
In September 1999, La-Z-Boy, at the time the largest American upholstered furniture manufacturer, bought LADD, the seventh-largest American furniture maker, for $197.8 million in stock and $101.5 million in assumed debt.
Saul Cutler of BDO Seidman said the deal "sets up La-Z-Boy as an industry behemoth." The deal, approved in January 2000, gave La-Z-Boy $2 billion in sales and made it one of the country's two largest furniture makers, Furniture Brands International being the other.
Doner made the individual pieces of furniture the heroes of the campaign's introductory print ads, which ran, beginning in late November 2000, in publications that included InStyle, Martha Stewart Living, Elle Decor, and Metropolitan Home.
The company progressively placed more emphasis on modern, fashionable furniture lines, and in 2000 it charged its longtime agency, Doner of Detroit, with the project of changing consumers' perceptions of the La-Z-Boy brand.
On July 23, 2001, La-Z-Boy announced the LADD name would cease to exist.
A 2001 Mitchell Gold print campaign targeting women suggested that the company made "recliners that don't look like recliners" and employed copy modeled after common women's-magazine exhortations, such as "Bring something a little daring into your relationship."
Irwin, Tanya. "Designs on a La-Z-Boy." Adweek (midwest ed.), February 11, 2002.
A 2002 charity event in which the company asked prominent designers to contribute recliner prototypes for auction eventually led to a sustained collaboration with Todd Oldham, a former New York fashion designer.
In 2002 the company intensified its efforts to reach young consumers, cutting prices on Horizons as well as on a more expensive line targeted at those who were beginning to upgrade their furniture after the first few years of home ownership.
The Todd Oldham collection debuted in 2003 and built further buzz around La-Z-Boy's evolution; advertising on behalf of the prominent new line retained the tagline "The New Look of Comfort."
The resulting Todd Oldham by La-Z-Boy collection of urban-styled furniture generated substantial buzz upon its fall 2003 release.
American of Martinsville was sold to Hancock Park Associates in November 2006.
In November 2006, High Point offered $600,000 to the La-Z-Boy division that was formerly LADD to move its headquarters back.
On September 6, 2007, La-Z-Boy announced the sale of Pennsylvania House to Universal Furniture.
La-Z-Boy Inc. entered into a partnership with Hydropool Inc. to manufacture La-Z-Boy Hot Tubs in 2009 and offers three exciting collections of luxury portable residential hot tubs.
Late in 2014, La-Z-Boy announced the closing of Lea after an unsuccessful attempt to find someone to buy the company.
|Company Name||Founded Date||Revenue||Employee Size||Job Openings|
|Bed Bath & Beyond||1971||$11.2B||55,000||1,206|
|Bassett Furniture Industries||1902||$385.9M||2,618||86|
|Thomasville Furniture Industries||-||$160.0M||2,000||-|
|DICK'S Sporting Goods||1948||$8.8B||50,100||6,214|
|Factory Card & Party Outlet||1989||-||1,725||-|
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La-Z-Boy may also be known as or be related to LA-Z-BOY INC, La-Z-Boy, La-Z-Boy Inc, La-Z-Boy Incorporated, La-Z-Boy, Inc. and La-z-boy.