McCallum, Mischen, Glabman: Partners in New Velvet Business
December 9, 2005
GREENSBORO, North Carolina — Steven Mischen, Tom Glabman and Elkin McCallum have formed a new company for the purpose of producing a line of velvets previously produced at LaFrance Velvets.
McCallum, owner of Joan Velvets, is providing the financial backing for the venture and is also the majority partner in the new business, which is as yet unnamed.
Mischen and Glabman will introduce their new line of 100 designs of woven velvet around the first of the New Year since they will not be ready to show the line at Showtime this month. They expect to transition the new line from the LaFrance mill to Circa 1801, a mill owned by McCallum in North Carolina and also at a McCallum owned mill in Newton, North Carolina.
LaFrance has officially exited the home furnishings business and instead will concentrate on industrial textiles, Mischen confirmed. LaFrance customers have been notified of the changeover earlier this week.
The price of the new line will be priced between $3.75 and $12.95 with most of the products selling in the $8 range, Mischen said. While he would offer no figures of what sales he and Glabman may have generated while with LaFrance since July, 2004, he did indicate that he has high hopes for sales with the new operation.
In general, velvet sales have picked up in the North American market and in Europe but there are very few suppliers of this product. This will give a boost to companies like DeBall, J.B. Martin, Raymakers of Holland as well as this new venture bankrolled by McCallum.
McCallum, owner of Joan Velvets, is providing the financial backing for the venture and is also the majority partner in the new business, which is as yet unnamed.
Mischen and Glabman will introduce their new line of 100 designs of woven velvet around the first of the New Year since they will not be ready to show the line at Showtime this month. They expect to transition the new line from the LaFrance mill to Circa 1801, a mill owned by McCallum in North Carolina and also at a McCallum owned mill in Newton, North Carolina.
LaFrance has officially exited the home furnishings business and instead will concentrate on industrial textiles, Mischen confirmed. LaFrance customers have been notified of the changeover earlier this week.
The price of the new line will be priced between $3.75 and $12.95 with most of the products selling in the $8 range, Mischen said. While he would offer no figures of what sales he and Glabman may have generated while with LaFrance since July, 2004, he did indicate that he has high hopes for sales with the new operation.
In general, velvet sales have picked up in the North American market and in Europe but there are very few suppliers of this product. This will give a boost to companies like DeBall, J.B. Martin, Raymakers of Holland as well as this new venture bankrolled by McCallum.
