Under the new name Sofa Workshop by Timothy Oulton, the brand will offer over 100 models in more than 500 different sizes and configurations. But opting out of some of these cookies may affect your browsing experience. Find businesses for sale here. That culture of craftsmanship has always been key for Timothy Oulton, and will remain at the heart of the philosophy at Sofa Workshop by Timothy Oulton.”. DFS CEO Tim Stacey says: "Over the course of the past few months we have reviewed our strategy and plans across the group with a focus on ensuring our brands are in the best possible position to support the group in maximising its return on capital. A subsidiary of British furniture retailer DFS has sold one of its premium brands, The Sofa Workshop, to Halo Furnishings for GBP 300,000. “This transaction represents a great opportunity for Sofa Workshop and I’d like to thank all our colleagues for their hard work and commitment since the business was acquired by the group seven years ago, and wish them every success in the future.". Tim Oulton comments: “Sofa Workshop has long been a respected brand in the UK market. Tim has a wealth of leadership and retail experience, including 12 years at Alliance Boots in roles such as Multi-Channel Director for Boots.com and Director for Online and Business Development. DFS is taking action against Sofaworks on behalf of its Sofa Workshop brand, and Retail Week understands that DFS boss Ian Filby and Sofaworks owner Jason Tyldesley attended court proceedings yesterday. All trading DFS, which owns the Sofa Workshop and Dwell brands as well, also has brand partnerships with French Connection and House Beautiful. "We believe that this trading performance reflects a combination of consumers currently spending more on their homes relative to other sectors, latent demand caused by the nationwide lockdown and also a strengthening advantage from our hybrid digital and physical retail offering, which is particularly relevant in this consumer environment," reads the statement. LOCKDOWN SALE - 50% off our beautifully handcrafted sofas, chairs and sofa beds. DFS last month agreed to sell The Sofa Workshop, one of its premium brands. get your work published, Upgrade your profile & add photos, videos, a map, social media links, PDF uploads and contacts. DFS Furniture saw gross sales fall -6% YoY in the HY to 29th December 2019, albeit against strong comparatives. Sofa retailer DFS has announced that one of its subsidiaries, DFS Furniture Company Limited, has entered into an agreement to sell the entire issued share capital of The Sofa Workshop Limited to Halo Furnishings Limited. “We manage our entire creative process in-house, from perfecting leather hand-finishes in our own tannery, to hand dyeing natural fabrics, to product design, production, and customer service, and we look forward to bringing our creative passion and energy to Sofa Workshop. It has several brands including Timothy Oulton, Noble Souls, Outlaw, Bleu Nature and Freehand. Copyright Gearing Media Group © 2017. The acceleration of e-commerce in 2020 created a huge opportunity for consumers to facilitate their holiday purchases, but now we are in the midst... © Copyright Retail Gazette. DFS bought the Sofa Workshop brand just beforehand, in October 2013. We'll assume you're ok with this, but you can opt-out if you wish. The retailer states... DFS has announced its preliminary results for the 48 weeks ended 30th June 2019 (its 50th year of trading). All operations, other than our websites, were suspended on 23 March. That culture of craftsmanship has always been key for Timothy Oulton, and will remain at the heart of the philosophy at Sofa Workshop by Timothy Oulton.”. Marylebone, London, W1G 0PG. The Sofa Workshop has undergone a change of hands, with DFS offloading the furniture fascia to rival Timothy Outlon in a £300,000 deal. DFS Furniture plc ("DFS" and the "Group") Sale of The Sofa Workshop Limited Class 2 Transaction Announcement DFS Furniture plc announces that one of its subsidiaries, DFS Furniture Company Limited, has entered into an agreement to sell the entire issued share capital of The Sofa Workshop Limited (the "Company", trading as Sofa Workshop), a wholly owned subsidiary and … Now that we’ve been putting it through its paces for the past few weeks, I can understand why. These cookies do not store any personal information. The company said the deal is subject to regulatory approval from … Halo's founder Tim Oulton says he intends to complement Sofa Workshop’s most popular ranges with the best designs from his global wholesale business, which supplies leading premium furniture retailers across the world. DFS Boxing Day Sale 2020 & Deals – Post-lockdown earnings of couches have jumped in the merchant DFS Furniture, as individuals purchased new furnishings following months restricted to their houses.. Earnings over the previous six week were 100m higher than originally anticipated, the business said. The acquisition comprises UK 20 stores and an online retail business. “DFS has expertise and a good track record of integrating and growing smaller brands, such as Dwell and Sofa Workshop.” Shares in DFS jumped 4.68% to 223.95p in midday trading. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Our UK based sofa experts are ready to take your call now. View our collection of leather, fabric and velvet sofas. Established in 1976 in the UK and 2004 in Asia, the Halo Group is a world leader in the luxury furniture and lifestyle market. It has benefited from offering its … 0800 110 5000 Eversheds Sutherland acted as legal counsel to the subsidiary, DFS Furniture Company, on the sale of the entire issued share capital of Sofa Workshop, on a cash, working capital and debt-free basis. The Group had been performing in line with expectations in March, until the lockdown, with order intake up in the second half year-on-year, and particularly strong in the DFS brand. The business is being sold on a cash, working capital and debt-free basis. SofaWorkshopPage at DFSIE We also use third-party cookies that help us analyze and understand how you use this website. Click here to sign up to Retail Gazette’s free daily email newsletter. "We will remain focused on the core elements of our strategy, namely accelerating investment in technology and omnichannel initiatives for our two scale brands, DFS and Sofology, while ensuring our complementary Dwell brand generates a consistent return. Oulton said The Sofa Workshop’s renown as being a hand-made furniture business will continue under his onwership, citing that the “culture of craftsmanship” has “always been key” for his Timothy Oulton business. Tim Stacey, CEO of the DFS Group, joined DFS in July 2011, prior to becoming the Group CEO he held a number of key leadership roles across the business. 27 August 2020. Timothy Outlon founder Tim Oulton intends to rebrand the newly-acquired business to Sofa Workshop by Timothy Oulton, as well as invest in enhancing the overall customer experience. How An Online B2B Marketplace Can Turn Your Post-Holiday Surplus And... Dunelm hails strong Q2 and appoints new non-exec director, Oak Furnitureland hires ex-Sainsbury’s CEO Mike Coupe as chairman, B&Q & Screwfix owner Kingfisher enjoys surging Christmas sales. DFS teams up with BBC Children in Need and launches the 'Give Me Five' fundraising initiative offering customers a chance to win their … DFS Furniture has announced that it plans to sell its Sofa Workshop business to Halo Furnishings for £0.3m. The retailer sells from stores branded DFS, Sofa Workshop, Dwell and Sofology and is market leader in the UK, with a share of about 30%. “Sofa Workshop has long been a respected brand in the UK market,” Outlon said. Our 2019 survey of sofa shoppers has uncovered the best and worst sofa shops, ranking dozens of big-name brands including Furniture Village, Harveys, Ikea, John Lewis and Sofa.com. The deal is conditional on regulatory approval from the FCA which is in progress and is expected to be received in due course. The company has entered into an agreement to sell the entire issued share capital of The Sofa Workshop Ltd to Halo Furnishings. LOCKDOWN SALE - 50% off our beautifully handcrafted sofas, chairs and sofa beds. In its most recent financial update, Sofa Workshop recorded a pre-tax loss of £2.9 million in the 48-week period ending June 30 last year. 27 December 2017. Sofa Workshop. In a statement, DFS said: "The gross assets of Sofa Workshop at 30 June 2019 were £10.2m, the loss before tax in the 48 week period to 30 June 2019 was £2.9m. DFS teams up with Sofa Workshop to offer you two exclusive designs, from a timeless-with-a-twist classics to something more modern. All rights reserved. The acquisition comprises UK 20 stores and an online retail business. Open 24 hours a day. Editorial: 0208 222 0503 The Sofa Workshop, which DFS acquired in 2013, trades from 20 standalone UK stores as well as operating an online store and concessions in some DFS stores. Sofa firm DFS Furniture is set to axe 200 workers in its Sofa Workshop and Dwell chains after suffering a £271million sales hit from lockdown. Its new owner Timothy Oulton is part of Halo Furnishings, a UK and Asia-based luxury furniture and lifestyle design group which also owns Noble Souls and Outlaw. The deal remains subject to regulatory approval. Halo operates in distinct but integrated segments in wholesale and retail, as well as the interiors project space. The Sofa Workshop had been part of the DFS company – which also includes Sofology – since 2013, where it has traded from 20 standalone stores, an online store, and shop-in-shops in some DFS … DFS trading “significantly ahead of expectations”, DFS to cut jobs as it swings to full-year loss, DFS confident for H1 results after “resilient” Q2, Made.com gives out share options to staff after “extremely strong” 2020 sales, Ikea to stop publishing catalogue after 70 years, Furniture Village sales up 25% despite Covid-induced losses, Big Interview, Martin Reiter, Head of Europe, Wayfair, DFS says deliveries will continue despite national lockdown, Lidl beats Aldi to be crowned cheapest supermarket in 2020, M&S boosts govt’s £15 free school meals vouchers to £20, Tesco loses appeal to withhold key information from staff in equal pay fight, 233 job cuts as M&S finalises Jaeger deal, 10 British department stores that have come & gone over the years (Part III). DFS teams up with Sofa Workshop to offer you two exclusive designs, from a timeless-with-a-twist classics to something more modern. The Sofa Workshop had been part of the DFS company – which also includes Sofology – since 2013, where it has traded from 20 standalone stores, an online store, and shop-in-shops in some DFS stores. The sofa is slightly lower than your average sofa (39cm) and the seat is deep (71cm) Has foam seats which keep their shape and is super comfortable. In a statement, DFS explained the structure of the deal: “The business is being sold on a cash, working capital and debt free basis. MANUFACTURER? The date was previously 31st... DFS reports "good strategic progress and profit in line with expectations" for the year to 30th June 2019, with underlying group gross... DFS Furniture has reported LFL sales growth across all its retail brands – DFS (which is celebrating its 50th year), Sofa Workshop, Dwell and... Online furniture sales growth headlines record year, Timothy Oulton announces global expansion, Furniture Makers presents innovation webinars, Business groups respond to post-Brexit FTA agreement, Home furnishings businesses refunding more than any other, says fintech, DFS bullish as it reveals resilient performance, Boxing Day shopper footfall hit hard by Covid-19, says Springboard, Dusk's Farah Arshad on offering "luxury for less", Nectar mattress parent raises £95.7m in latest funding round, Ikea presents the furniture catalogue of the future, Manchester Furniture Show 2013 - New Blood, Long Eaton - a hub of upholstery manufacture, Investment supports growth across DFS' retail brands. And each store will also carry a small taste of the Timothy Oulton collection.”, He added: “Our furniture is made to order, one by one, by hand, using simple tools and time-honoured techniques. I am very excited to bring to it a wider range of our globally bestselling sofa designs, along with lighting and cabinet collections. All Rights Reserved, DFS Furniture plans to sell its Sofa Workshop business to Halo Furnishings for £0.3m. Sofa Workshop is a furniture manufacturer and retailer of handmade furniture, offering both product and fabric customisation that DFS acquired in 2013. This website uses cookies to improve your experience. This category only includes cookies that ensures basic functionalities and security features of the website. Our furniture is made to order, one by one, by hand, using simple tools and time-honoured techniques. “This transaction represents a great opportunity for Sofa Workshop and I’d like to thank all our colleagues for their hard work and commitment since the business was acquired by the Group seven years ago and wish them every success in the future,” DFS chief executive Tim Stacey said. Necessary cookies are absolutely essential for the website to function properly. Save my name, email, and website in this browser for the next time I comment. DFS Furniture said on Thursday that it has agreed to sell the Sofa Workshop to Halo Furnishings for £300,000. This website uses cookies to improve your experience while you navigate through the website. excluding Sofa Workshop and Dwell restructuring costs noted below. The Dillon is a Sofa Workshop collaboration with DFS and I’ve been told, is proving to be a very popular model in the DFS stores. As the clear market leader with strong recognition of our brands, high showroom sales densities and advantageous vertical integration, we feel well positioned to drive shareholder returns. DFS Furniture has announced that it plans to sell its Sofa Workshop business to Halo Furnishings for £0.3m. At Sofa Workshop, we're really rather proud of every sofa we make. You have entered an incorrect email address! SofaWorkshopPage at DFS Retailer DFS Furniture has warned it may axe up to 200 jobs across its Sofa Workshop and Dwell chains as the group braces for annual losses after a £271 million sales hit from lockdown. DFS has announced an agreement to sell the entire issued share capital of The Sofa Workshop Limited to Halo Furnishings for a total of £300,000m. Sign up for the newsletter with the latest news, features and products. |. The retailer said one of its subsidiaries has agreed a £300,000 disposal of The Sofa Workshop … Commercial: 07401 241 979, UK: Four Cavendish Square, Call us. Access the E-Magazine, Signup for Newsletter, Read articles only available to registered users, Sign up to the magazine, Printed or Digital, Editorial submissions. DFS to sell Sofa Workshop brand to Halo 27 August, 2020 | by The Retail Bulletin DFS has entered into an agreement to sell its Sofa Workshop business to luxury furniture group Halo. The furniture is handmade in Britain. It is mandatory to procure user consent prior to running these cookies on your website. DFS Furniture plc ("DFS" or the "Group") Acquisition of Assets by Sofa Workshop and DFS DFS Furniture plc is pleased to announce that the Group has acquired certain store leases, assets and intellectual property of Multiyork Furniture Limited (in administration) ("Multiyork") (the "Transaction"), primarily for Sofa Workshop. You also have the option to opt-out of these cookies. Free phone number. More But if you pushed us to choose we’d whittle it down to our favourite Dillon, Ellison and Bailey. “The network of stores around London and across the UK will allow us to create easy access to a beautifully handcrafted collection of over 100 sofa models, tailor-made in unique finishes and offered in a vast array of configurations. This browser for the past dfs sofa workshop weeks, I can understand why for the newsletter with the latest,! 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