Legacy Classic sharpens prices with move to Vietnam
Time：2019-02-27 14:13:58 Share：
Case goods importer Legacy Classic and sister company LC Kids will offer new starting price points as part of the company’s shift to Vietnam sourcing announced last fall.
The shift represents what the company describes as one of the biggest transitions in its business model in the past 20 years.
Since it was formed in 1999, the company has had a vertically integrated production model at the Chinese production facilities of Lacquer Craft Manufacturing.
The Lacquer Craft division that oversees Legacy’s production is now moving from China to Ho Chi Minh City, Vietnam, where it will oversee sourcing, quality assurance and logistics from multiple production facilities in that region.
Legacy began showing some of the Vietnam sourced product in October but said that the program will be fully operational by next month.
The company first shared details of the shift last September as the Trump administration continued weighing tariffs on Chinese made furniture and other products. Much of the industry has also shifted to Vietnam as officials have threatened to raise the tariffs to 25%, a move that was expected to occur by March 1.
This week the Trump administration delayed that March 1 deadline, indicated it was making progress in its talks with Chinese officials.
While the tariffs make the move appear more timely, Legacy actually was considering the shift many months before the tariffs became an issue last summer.
As part of the shift, Legacy Classic and LC Kids will offer a new tier of good price points that complement its existing line of better priced goods. The company also said it will be able to offer a broader product line with “larger collections, more accents, more custom-designed hardware and additional finish steps.”
Four-piece bedrooms typically range from $1,999 up to $2,499. The category will now start at $1,499 for a four-piece set.
Table and four-chair formal dining sets will start at $1,699, from $1,999 currently, while everyday dining sets will start at $799, from $999 currently.
Some dressers in the LC Kids line will start at $399, compared to $499 previously.
“As we celebrate our 20th year in business, we are making the biggest shift in our business model in the history of the company,” said Don Essenberg, president and CEO. “This will help us offer a greater value and be even more competitive. With a combination of factories, we can match the right factory with the right product.”
Legacy Classic and LC Kids will be showing more of its new Vietnam-sourced product at its showroom at 2622 Uwharrie Road in High Point at the March 4-5 Premarket and the April 6-10 High Point Market.
