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La-Z-Boy
La-Z-Boy

Industry & manufacturing / Furniture

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview

La-Z-Boy is an American furniture manufacturer and retailer, best known for its signature recliner chair. The company was founded in 1927 in Monroe, Michigan, by cousins Edward M. Knabusch and Edwin J. Shoemaker. Originally called the "La-Z-Boy Chair Company," the company's name was changed to La-Z-Boy in the 1930s.
The company's most popular product, the La-Z-Boy recliner, was invented by Knabusch and Shoemaker in 1928. It was designed to be more than just a place to sit, offering both comfort and support. The original recliner was a big hit and became a staple in American homes.
Today, La-Z-Boy is a leading manufacturer of residential furniture, offering a wide range of seating options including recliners, sofas, loveseats, chairs, and ottomans. They also offer a variety of home furnishings such as tables, rugs, lamps, and accessories.
La-Z-Boy has expanded its product range to include both stationary and motion furniture, as well as customizable options, including fabric and leather choices. The company also offers a warranty on all its products and has a reputation for high-quality craftsmanship and customer service.
In addition to their manufacturing operations, La-Z-Boy has a network of over 350 retail locations in the United States and Canada, offering customers the opportunity to see and try out their furniture in person.
La-Z-Boy is committed to sustainability and has implemented several initiatives to reduce waste and conserve resources in their manufacturing processes. They also support various community and charitable organizations through the La-Z-Boy Foundation.

What is special about the company?

1. Invention of the Recliner: La-Z-Boy is known for inventing the first-ever reclining chair in 1928, which revolutionized the furniture industry. This iconic piece of furniture is now synonymous with the brand and has become a popular choice for comfort and relaxation.
2. High-Quality Craftsmanship: La-Z-Boy prides itself on using top-quality materials and skilled craftsmanship in their furniture. They have a team of master craftsmen who carefully handcraft each piece to ensure durability and comfort.
3. Wide Range of Products: The company offers a wide range of products, including recliners, sofas, chairs, loveseats, ottomans, and more. They also offer customizable options, allowing customers to choose the fabric, color, and style of their furniture.
4. Commitment to Sustainability: La-Z-Boy is committed to sustainability and has implemented several eco-friendly practices in its manufacturing process. They use sustainable materials and have reduced their carbon footprint by investing in renewable energy sources.
5. Strong Warranty and Customer Service: La-Z-Boy offers a strong warranty on its products, with most offering a limited lifetime warranty. They also have a responsive customer service team that assists with any issues or concerns customers may have.
6. Philanthropic Efforts: The company has a strong commitment to giving back to the community. La-Z-Boy has partnerships with various charities and organizations, and through their “Home of Valor” program, they have donated furniture to hundreds of veterans in need.
7. International Presence: La-Z-Boy has a global presence, with products sold in over 35 countries. The company has manufacturing facilities in the United States, Mexico, and Thailand, making it one of the largest furniture manufacturers in the world.

What the company's business model?

The La-Z-Boy company's business model is based on selling high-quality, comfortable, and stylish furniture for homes and businesses. The company designs, manufactures, markets, and sells a wide range of furniture products, including recliners, chairs, sofas, sectionals, ottomans, and tables. Their products are sold through company-owned retail stores, authorized dealers, and online channels. The company also offers custom furniture design and in-home design services to customers. In addition to furniture, La-Z-Boy also sells accessories, such as rugs, lamps, and wall art, to complement their furniture offerings. The company focuses on delivering exceptional customer service and building long-term relationships with their customers. They also aim to continuously innovate and improve their products to stay competitive in the market. The company has a vertically integrated supply chain, with their own manufacturing facilities for upholstery, case goods, and foam products. They also have a strong focus on sustainability and environmental responsibility in their operations.

Interesting facts about the company

1. The La-Z-Boy company was founded in 1927 by two cousins, Edward M. Knabusch and Edwin J. Shoemaker, in Monroe, Michigan. They originally started the company to manufacture wooden porch chairs, but soon transitioned to the famous recliners they are known for today.
2. The name La-Z-Boy was coined by one of the founders’ wives, who overheard someone say, That’s one comfortable chair, it’s a lazy boy!
3. During World War II, La-Z-Boy shifted its production to make military equipment, including airplane seats, armored vehicle seats, and fuel tanks.
4. In the 1950s, La-Z-Boy began offering a lifetime warranty on their products, which was a first for the furniture industry.
5. In the 1960s, La-Z-Boy debuted its iconic recliner that could rock and recline, known as the Rocket Recliner.
6. La-Z-Boy adopted the famous La-Z-Boy logo in 1969, which features a caricature of a man sitting back in a recliner with a serene expression.
7. The company went public in 1971 and is currently traded on the New York Stock Exchange under the ticker symbol LZB.
8. In the 1980s, La-Z-Boy expanded its product line to include sofas, loveseats, and other living room furniture.
9. In 2008, the company introduced their first line of outdoor furniture, called La-Z-Boy Outdoor.
10. Today, La-Z-Boy is one of the largest furniture manufacturers in the world, with over 11,000 employees and over 1,000 locations worldwide.

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