Hanover Direct CEO Announces Turiya Home Fashions During Home Textiles Keynote Address
WEEHAWKEN, N.J.--(BUSINESS WIRE)--June 28, 1999--Rakesh K. Kaul, President and CEO of
Hanover Direct, Inc., (AMEX: HNV) speaking to a gathering of almost 200 home textiles
executives, announced Turiya, the Company's new premium home fashions brand targeting the
luxury market. The Turiya brand, positioned as the ultimate in luxurious home
furnishings, reinforces the Company's greater awareness of the lifestyle of the upscale
consumer. It will launch in September 1999.
"We have targeted a very special customer, one who truly believes in the home as one's
sanctuary. Turiya, inspired by the Sanskrit word describing the state of ultimate
harmony, lets our customer go beyond the realm of the ordinary, with some of the most
extraordinary products rarely available from a single source. Turiya's merchandise
offering will be sourced from around the globe, and will capture the best quality
textiles, designs and products available representing the ultimate in the home
furnishings industry. We believe our new brand is well positioned for the holiday
millennium season and will be well received by this growing segment of the population,"
Kaul stated.
During the same address Kaul cited the Internet as the greatest challenge and
opportunity facing the home fashions industry in the future.
"The Internet is the dominant technology we face today, and the next three years will
be critical in defining its market leaders. Regardless of the extent of your
participation online, business models must be developed today to realize its maximum
potential. We have found home fashion consumers to be receptive to shopping on-line at
all price levels. Having identified the Internet as our greatest sales and earnings
opportunity, Hanover Direct is positioned to deliver the promise of e-commerce both to
our end consumers and to other retailers and name brand manufacturers wanting to engage
in e-commerce via the one-stop outsourcing services we offer through Keystone
Fulfillment," stated Kaul.
Mr. Kaul's comments were part of an address to industry executives attending Context
2020; a conference on the future of the home textiles industry sponsored by Home Textiles
Today, a Cahners publication.
The Turiya catalog joins Hanover's highly successful home fashions market leaders, The
Company Store and Domestications. Its offering is comprised of a combination of products
manufactured exclusively for Turiya, as well as select nationally known luxury brands and
a group of key designers, some new and growing in importance. For the first time, Scandia
Down, one of the highest quality down and feather-filled sleep products and bed linens in
the market today, will be available through direct marketing channels. Scandia Down,
owned by Hanover Direct, is currently sold exclusively in only 37 licensed retail
boutiques across the U.S. Turiya will feature the introduction of new designers to the
U.S. such as Kelly Hoppen, a winner of the Andrew Martin Interior Designer of the Year
Award in England. The Kelly Hoppen line, mixing textures with Eastern and Western
cultures to create a personalized home environment, includes bedroom ensembles and a
variety of glass, wood and ceramic accessories, candles and home fragrances. Turiya will
also be the first catalog to offer Ralph Lauren White Label, a luxury home fashions line
of opulent and timeless classics in jacquard, boucle, and cashmere, by the renowned
designer, Ralph Lauren.
Turiya will provide its customers with a unique level of service designed to match the
quality of the merchandise. Complimentary shipping, white glove delivery of furniture, a
well trained, dedicated, customer and 'designer' consultative staff who will provide
everything from swatches to 'no-questions-asked' customizing are all planned. Most
purchases will be shipped in a distinctive, gift presentation. Its products will include
sheets made of cottons, silks and Italian linens with Queen size prices ranging from $120
to $700. Bed blankets in cotton, wool, silk and cashmere will range in price from $100 to
$1000. And, perhaps the ultimate in luxury, hand made eider down comforters with retail
prices exceeding $4000.
Hanover Direct, Inc. (AMEX: HNV), and its business units, provide quality, branded
merchandise through a portfolio of catalogs and e-commerce platforms to consumers, as
well as a comprehensive range of Internet, e-commerce, and fulfillment services to
businesses. The brand marketing division is comprised of the Company's catalog and
e-commerce web site portfolio of home fashions, apparel and gift brands, including
Domestications, The Company Store, Colonial Garden Kitchens, Kitchen & Home,
Improvements, The Safety Zone, Silhouettes, Tweeds, International Male, Austad's,
Undergear, and Gump's By Mail. The Company also owns Gump's, a retail store based in San
Francisco. Each brand can be accessed on the Internet individually by name. The web
services division is comprised of the Company's Internet marketing services group,
systems platform, fulfillment and telemarketing and third party fulfillment service
vendor, Keystone Fulfillment Inc. (www.keystonefulfillment.com). Information on Hanover
Direct, including each of its divisions, can be accessed on the Internet at
www.hanoverdirect.com.
CONTACT: AGG International, Public Relations, New York
Paula Zwerdling
Managing Director
212/869-8230
07:33 EDT JUNE 28, 1999
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