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Litex Industries history
Litex Industries company history timeline
Importantly, too, the acquisition diversified Craftmade's product line, a necessary move because sales in the ceiling-fan industry had peaked and stabilized at unit sales levels under those reached in 1983, before Craftmade even entered the business.
Still, in 1986, its first full year of operations, Craftmade had sales of $1.9 million, earning the new company $50,000.
1986: Fanthing Electrical Corp. agrees to make Craftmade's fans in Taiwan.
Under its terms, formalized in writing in 1989, Fanthing agreed to manufacture ceiling fans to Craftmade's specifications.
By 1993, it was marketing its fans in all 50 states, with its biggest sales made in Ohio.
In 1999, company founder and CEO James R. Ridings owned an 18 percent or $9.4 million stake in the company.
By 1999, Craftmade was doing business with major home-center chains and some 1,600 mom-and-pop stores across the United States.
2000 and Beyond: New Sales Strategies
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Litex Industries competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Genesis Diamonds | 2005 | $7.3M | 125 | 2 |
| Arizona Mail Order Co Inc | 1946 | $6.8M | 15 | - |
| Levenger | 1987 | $28.2M | 100 | - |
| QuiBids | 2009 | $9.0M | 70 | - |
| Longstreth | 1977 | $22.7M | 50 | - |
| DS Services of America | 1985 | $35.0M | 3,000 | - |
| Eastbay | 1980 | $8.0B | 10,001 | 11 |
| Prescription Supply | 1955 | $4.0M | 50 | - |
| Abt Electronics | 1936 | $400.0M | 1,650 | - |
| Filson | 1897 | - | 240 | 5 |
Litex Industries history FAQs
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Litex Industries may also be known as or be related to Litex Industries, Litex Industries Limited, Litex Industries Ltd, Litex Industries Ltd. and Litex Industries, Limited.