Clarence House Sale Tied to P. Kaufmann
March 8, 2002
New York—Clarence House has reached an agreement in principal to be purchased by P. Kaufmann Inc., the large converter.
Clarence House is a respected decorative jobber, which caters to the uptown interior design market. The company is owned by Robin Roberts who could not be reached for comment. Both firms are based in New York.
It is understood but not confirmed that Roberts will have a place with the new owners for a ten-year period; the first five years under contract .and the right to renew for a second term of the same length.
Ron Kaufmann, president of Kaufmann confirmed the arrangement for the record, but reserved further comment until the sale was finalized.
Market watchers say that Robin Roberts is very close to Peter Kaufmann, Kaufmann's founder, and they have been friends for years.
Clarence House is considered a plum and neither party wanted to see it in the wrong hands. Exactly what P. Kaufmann plans to do with Clarence House is not known.
Most likely, Clarence House will continue as a high end decorative jobber. This gives P. Kaufmann yet another entrée into the better end of the market. P. Kaufmann has been moving to higher price points and better fabrics in the past few years in an effort to distance itself from its competition.
Fabrics & Furnishings International will carry the full story when it is available.
Clarence House is a respected decorative jobber, which caters to the uptown interior design market. The company is owned by Robin Roberts who could not be reached for comment. Both firms are based in New York.
It is understood but not confirmed that Roberts will have a place with the new owners for a ten-year period; the first five years under contract .and the right to renew for a second term of the same length.
Ron Kaufmann, president of Kaufmann confirmed the arrangement for the record, but reserved further comment until the sale was finalized.
Market watchers say that Robin Roberts is very close to Peter Kaufmann, Kaufmann's founder, and they have been friends for years.
Clarence House is considered a plum and neither party wanted to see it in the wrong hands. Exactly what P. Kaufmann plans to do with Clarence House is not known.
Most likely, Clarence House will continue as a high end decorative jobber. This gives P. Kaufmann yet another entrée into the better end of the market. P. Kaufmann has been moving to higher price points and better fabrics in the past few years in an effort to distance itself from its competition.
Fabrics & Furnishings International will carry the full story when it is available.
