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m DFS formerly known as Direct Furnishing Supplies, Darley Dale, (not Doncaster) Founder name changed to Hardy Family. Founded in 1963 and name changed to DFS in 1969 1969.
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=== DFS ===
=== DFS ===
[[File:DFS Wetherby Cropped.jpg|thumb|right|300px|DFS, [[Wetherby]] (formerly Northern Upholstery) on the [[Thorp Arch Trading Estate]], [[West Yorkshire]]]]
[[File:DFS Wetherby Cropped.jpg|thumb|right|300px|DFS, [[Wetherby]] (formerly Northern Upholstery) on the [[Thorp Arch Trading Estate]], [[West Yorkshire]]]]
In 1983, Graham Kirkham, of Northern Upholstery, purchased the business and the name of the[[Darley Dale]] based DFS, founded by the Hardy Family in 1969. Northern Upholstery was renamed DFS (although some branches of Northern Upholstery in Yorkshire retained their original name until the mid 1990s) and at the time had a total of 63 stores employing 2,000 staff.<ref name="Sofa king"/>
In 1983, Graham Kirkham, of Northern Upholstery, purchased the business and the name of the[[Darley Dale]] based DFS, founded by the Hardy Family in 1969. Northern Upholstery was renamed DFS (although some branches of Northern Upholstery in Yorkshire retained their original name until the mid 1990s) and at the time, had a total of sixty three stores, employing 2,000 staff.<ref name="Sofa king"/>


In 1993, DFS was floated on the stock market as DFS Furniture Company plc and valued at £271&nbsp;million, with Kirkham and his family trusts owning just over half of the shares. This brought the Kirkham family to the attention of thieves, who in 1994 broke into the family home at [[Sprotbrough]] while they were on holiday. The burglars bound and gagged the housekeeper and made off with money and jewels worth £2.4&nbsp;million, later recovered, but still South Yorkshire's largest armed robbery.<ref name="Sofa king"/>
In 1993, DFS was floated on the stock market as DFS Furniture Company plc and valued at £271 million, with Kirkham and his family trusts owning just over half of the shares.


This brought the Kirkham family to the attention of thieves, who in 1994, broke into the family home at [[Sprotbrough]] while they were on holiday. The burglars bound and gagged the housekeeper and made off with money and jewels worth £2.4&nbsp;million, later recovered, but still South Yorkshire's largest armed robbery.<ref name="Sofa king"/>
⚫
In 1998, DFS announced its first drop in profits in 28 years to the [[London Stock Exchange]]. The company reworked its advertising to feature younger models, and in 2000, DFS announced a 79 percent profit increase.<ref name="Sofa king"/> But the revival was short lived, and in light of the continuing prevalence for [[private equity]], Kirkham took the chain private again in 2004, leveraging his family's own 9.46% stake with £150&nbsp;million of family funds<ref>{{cite web|url=http://www.investegate.co.uk/articlePrint.aspx?id=200409021628595632C |title=Increased and final offer |publisher=InvestEgate|accessdate=1 December 2015}}</ref> in an eventual £496&nbsp;million deal.<ref>{{cite news| url=https://www.independent.co.uk/news/business/comment/outlook-just-say-no-to-kirkhams-insulting-dfs-bid-72207.html| title=Outlook: Just say no to Kirkham's insulting DFS bid |publisher= Independent, The (London)|date=6 October 2013|accessdate=1 December 2015}}</ref><ref>{{cite news| url=https://www.nytimes.com/2004/07/23/business/world-business-briefing-europe-britain-dfs-accepts-founder-s-bid.html | work=The New York Times | title=World Business Briefing | date=23 July 2004}}</ref>


⚫
In 1998, DFS announced its first drop in profits in twenty eight years to the [[London Stock Exchange]]. The company reworked its advertising to feature younger models, and in 2000, DFS announced a 79 percent profit increase.<ref name="Sofa king"/> But the revival was short lived, and in light of the continuing prevalence for [[private equity]], Kirkham took the chain private again in 2004, leveraging his family's own 9.46% stake with £150&nbsp;million of family funds<ref>{{cite web|url=http://www.investegate.co.uk/articlePrint.aspx?id=200409021628595632C |title=Increased and final offer |publisher=InvestEgate|accessdate=1 December 2015}}</ref> in an eventual £496&nbsp;million deal.<ref>{{cite news| url=https://www.independent.co.uk/news/business/comment/outlook-just-say-no-to-kirkhams-insulting-dfs-bid-72207.html| title=Outlook: Just say no to Kirkham's insulting DFS bid |publisher= Independent, The (London)|date=6 October 2013|accessdate=1 December 2015}}</ref><ref>{{cite news| url=https://www.nytimes.com/2004/07/23/business/world-business-briefing-europe-britain-dfs-accepts-founder-s-bid.html | work=The New York Times | title=World Business Briefing | date=23 July 2004}}</ref>
⚫
Kirkham told the ''[[Yorkshire Post]]'': "It's something that's caused me fitful sleep in the time I've been thinking about it. I've no hobby, this is my hobby – it's what I do. I'm an entrepreneur. It's almost as if I can feel the adrenaline running through my veins."<ref>{{cite web|url=http://www.donny.co.uk/Doncaster/news/index.php3?ID=465 |title=Latest News and Features: Famous Doncastrian: Graham Kirkham|publisher= Donny Online|accessdate=1 December 2015}}</ref>


⚫
Kirkham told the ''[[Yorkshire Post]]'': "It's something that's caused me fitful sleep in the time I've been thinking about it. I've no hobby, this is my hobby – it's what I do. I'm an entrepreneur. It's almost as if I can feel the adrenaline running through my veins."<ref>{{cite web|url=http://www.donny.co.uk/Doncaster/news/index.php3?ID=465 |title=Latest News and Features: Famous Doncastrian: Graham Kirkham|publisher= Donny Online|accessdate=1 December 2015}}</ref> On 3 April 2010, it was announced that DFS had been sold to private equity firm [[Advent International]] for a reported £500&nbsp;million.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/8638981.stm|title=DFS sofa chain sold to private equity firm |work=BBC News|date=23 April 2010|accessdate=12 November 2014}}</ref>
⚫
On 3 April 2010, it was announced that DFS had been sold to private equity firm [[Advent International]] for a reported £500&nbsp;million.<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/8638981.stm|title=DFS sofa chain sold to private equity firm |work=BBC News|date=23 April 2010|accessdate=12 November 2014}}</ref> DFS then acquired two smaller British retailers which had been struggling in the market: [[Sofa Workshop]] in 2013 and [[Dwell (retailer)|Dwell]] in August 2014.<ref>{{Cite web|url = http://www.ft.com/cms/s/0/71057ea0-2866-11e4-9ea9-00144feabdc0.html#axzz3IKNBmMi7|title = DFS buys smaller furniture chain Dwell|date = 20 August 2014|accessdate = 6 November 2014|website = FT|publisher = FT|last = Blitz|first = Roger}}</ref><ref>{{cite news |url=http://www.insidermedia.com/insider/yorkshire/101878-/|title=DFS Acquires Aspirational Brand|publisher=Retail Week |date=1 November 2013 |accessdate=6 November 2014 }}</ref> On 6 March 2015, the company floated on the [[London Stock Exchange]] again as DFS Furniture plc.<ref>{{cite news|title=Furniture chain DFS returns to stock market|url=https://www.bbc.co.uk/news/business-31763926|accessdate=8 March 2015|work=BBC News|date=6 March 2015}}</ref>


⚫
DFS then acquired two smaller British retailers which had been struggling in the market: [[Sofa Workshop]] in 2013 and [[Dwell (retailer)|Dwell]] in August 2014.<ref>{{Cite web|url = http://www.ft.com/cms/s/0/71057ea0-2866-11e4-9ea9-00144feabdc0.html#axzz3IKNBmMi7|title = DFS buys smaller furniture chain Dwell|date = 20 August 2014|accessdate = 6 November 2014|website = FT|publisher = FT|last = Blitz|first = Roger}}</ref><ref>{{cite news |url=http://www.insidermedia.com/insider/yorkshire/101878-/|title=DFS Acquires Aspirational Brand|publisher=Retail Week |date=1 November 2013 |accessdate=6 November 2014 }}</ref> On 6 March 2015, the company floated on the [[London Stock Exchange]] again as DFS Furniture plc.<ref>{{cite news|title=Furniture chain DFS returns to stock market|url=https://www.bbc.co.uk/news/business-31763926|accessdate=8 March 2015|work=BBC News|date=6 March 2015}}</ref> In October 2017, DFS announced they had purchased one of their competitors, [[Sofology]] (formerly Sofaworks and CSL) in a £25&nbsp;million deal.
In October 2017, DFS announced they had purchased one of their competitors, [[Sofology]] (formerly Sofaworks and CSL) in a £25 million deal. The acquisition was ratified by the [[Competition and Markets Authority]] in November 2017.


The acquisition was ratified by the [[Competition and Markets Authority]] in November 2017.
⚫
== Marketing ==
⚫
For many years in the 1980s and 1990s, actor [[Tom Adams (actor)|Tom Adams]] was the face of DFS's television advertisements.<ref>{{cite news|url=https://www.telegraph.co.uk/news/obituaries/11294797/Tom-Adams-obituary.html|title=Tom Adams - obituary|work=The Telegraph|date=15 December 2014|accessdate=1 December 2015}}</ref>


⚫
== Marketing ==
In December 2008, one television commercial by DFS was banned by the [[Advertising Standards Authority (United Kingdom)|Advertising Standards Authority]], following complaints that the company had doctored the footage to inflate the perceived size of their sofas, relative to the actors. The advert featured actors miming [[Nickelback]]'s "[[Rockstar (Nickelback song)|Rockstar]]", while playing [[air guitar]] in front of the sofas.<ref>{{cite web|url=http://news.bbc.co.uk/1/hi/business/7762337.stm |title=Advert banned for inflated sofas|publisher=BBC|date=3 December 2008|accessdate=1 December 2015}}</ref>
⚫
For many years in the 1980s and 1990s, actor [[Tom Adams (actor)|Tom Adams]] was the face of DFS's television advertisements.<ref>{{cite news|url=https://www.telegraph.co.uk/news/obituaries/11294797/Tom-Adams-obituary.html|title=Tom Adams - obituary|work=The Telegraph|date=15 December 2014|accessdate=1 December 2015}}</ref> In December 2008, one television commercial by DFS was banned by the [[Advertising Standards Authority (United Kingdom)|Advertising Standards Authority]], following complaints that the company had doctored the footage to inflate the perceived size of their sofas, relative to the actors.


That month, the advert was also given the distinction as one of the worst adverts of all time.<ref>{{cite news|url=http://www.dailyrecord.co.uk/news/uk-world-news/10-of-the-best---worst-adverts-1001510|title=10 of the best - worst adverts of all time|newspaper=[[Daily Record (Scotland)|Daily Record]]|date=12 December 2008|accessdate=4 July 2013}}</ref><ref>{{cite news|url=https://www.theguardian.com/media/organgrinder/2008/dec/11/advertising-television|title=The worst TV ads of 2008: Federer, Woods and Henry take a bow|newspaper=[[The Guardian]]|last=Sweney|first=Mark|date=11 December 2008|accessdate=4 July 2013|location=London}}</ref>
The advert featured actors miming [[Nickelback]]'s "[[Rockstar (Nickelback song)|Rockstar]]", while playing [[air guitar]] in front of the sofas.<ref>{{cite web|url=http://news.bbc.co.uk/1/hi/business/7762337.stm |title=Advert banned for inflated sofas|publisher=BBC|date=3 December 2008|accessdate=1 December 2015}}</ref> That month, the advert was also given the distinction as one of the worst adverts of all time.<ref>{{cite news|url=http://www.dailyrecord.co.uk/news/uk-world-news/10-of-the-best---worst-adverts-1001510|title=10 of the best - worst adverts of all time|newspaper=[[Daily Record (Scotland)|Daily Record]]|date=12 December 2008|accessdate=4 July 2013}}</ref><ref>{{cite news|url=https://www.theguardian.com/media/organgrinder/2008/dec/11/advertising-television|title=The worst TV ads of 2008: Federer, Woods and Henry take a bow|newspaper=[[The Guardian]]|last=Sweney|first=Mark|date=11 December 2008|accessdate=4 July 2013|location=London}}</ref>


==Acquisitions==
==Acquisitions==
* Furniture businesses of [[Wyefield Group]] (1999, £1.5&nbsp;million)<ref>{{cite news|title=Orchard Furniture To Sell Assets for GBP1.5M|date=15 June 1999|agency=Dow Jones|work=Factiva}}</ref>
* Furniture businesses of [[Wyefield Group]] (June 1999, £1.5&nbsp;million) <ref>{{cite news|title=Orchard Furniture To Sell Assets for GBP1.5M|date=15 June 1999|agency=Dow Jones|work=Factiva}}</ref>


== References ==
== References ==

Revision as of 09:52, 25 March 2020

DFS Furniture plc
Company typePublic limited company
LSE: DFS
IndustrieEinzelhandel
Gegründet1963 Direct Furnishing Supplies, (Darley Dale). Name later changed to DFS in 1969.
Gründerthe Hardy Family, Darley Dale.
HauptsitzDarley Dale, Derbyshire, United Kingdom
Key people
Ian Durant (chairman)
Tim Stacey (chief executive officer)[1]
ProdukteFurniture
Revenue£913.1 million (2015)[2]
£89.2 million (2015)[2]
£3.2 million (2015)[2]
ParentAdvent International
Websitewww.dfs.co.uk
File:DFS logo.png
DFS Furniture previous logo

DFS (DFS Furniture plc, stylised as dfs, formerly Direct Furnishing Supplies,[citation needed] DFS Furniture Company plc[citation needed]) is a furniture retailer in the United Kingdom, Spain, the Netherlands and Ireland specialising in sofas and soft furnishings. It is listed on the London Stock Exchange.

History

Northern Upholstery

In 1969, aged 24, Graham Kirkham was married with two children, which he describes as great motivation.[3]

Having visited a few manufacturers in his daily work, he decided that making furniture was relatively easy and that by cutting out the warehouse dealers in the middle of the supply chain, he could sell direct to the public at lower prices. Kirkham rented a room above a snooker hall in Carcroft, and started making furniture upstairs and retailing it downstairs.[3]

DFS

DFS, Wetherby (formerly Northern Upholstery) on the Thorp Arch Trading Estate, West Yorkshire

In 1983, Graham Kirkham, of Northern Upholstery, purchased the business and the name of theDarley Dale based DFS, founded by the Hardy Family in 1969. Northern Upholstery was renamed DFS (although some branches of Northern Upholstery in Yorkshire retained their original name until the mid 1990s) and at the time, had a total of sixty three stores, employing 2,000 staff.[3]

In 1993, DFS was floated on the stock market as DFS Furniture Company plc and valued at £271 million, with Kirkham and his family trusts owning just over half of the shares.

This brought the Kirkham family to the attention of thieves, who in 1994, broke into the family home at Sprotbrough while they were on holiday. The burglars bound and gagged the housekeeper and made off with money and jewels worth £2.4 million, later recovered, but still South Yorkshire's largest armed robbery.[3]

In 1998, DFS announced its first drop in profits in twenty eight years to the London Stock Exchange. The company reworked its advertising to feature younger models, and in 2000, DFS announced a 79 percent profit increase.[3] But the revival was short lived, and in light of the continuing prevalence for private equity, Kirkham took the chain private again in 2004, leveraging his family's own 9.46% stake with £150 million of family funds[4] in an eventual £496 million deal.[5][6]

Kirkham told the Yorkshire Post: "It's something that's caused me fitful sleep in the time I've been thinking about it. I've no hobby, this is my hobby – it's what I do. I'm an entrepreneur. It's almost as if I can feel the adrenaline running through my veins."[7] On 3 April 2010, it was announced that DFS had been sold to private equity firm Advent International for a reported £500 million.[8]

DFS then acquired two smaller British retailers which had been struggling in the market: Sofa Workshop in 2013 and Dwell in August 2014.[9][10] On 6 March 2015, the company floated on the London Stock Exchange again as DFS Furniture plc.[11] In October 2017, DFS announced they had purchased one of their competitors, Sofology (formerly Sofaworks and CSL) in a £25 million deal.

The acquisition was ratified by the Competition and Markets Authority in November 2017.

Marketing

For many years in the 1980s and 1990s, actor Tom Adams was the face of DFS's television advertisements.[12] In December 2008, one television commercial by DFS was banned by the Advertising Standards Authority, following complaints that the company had doctored the footage to inflate the perceived size of their sofas, relative to the actors.

The advert featured actors miming Nickelback's "Rockstar", while playing air guitar in front of the sofas.[13] That month, the advert was also given the distinction as one of the worst adverts of all time.[14][15]

Acquisitions

References

  1. ^ Jahshan, Elias (22 May 2018). "DFS promotes Tim Stacey to CEO as Ian Filby steps down". Retail Gazette. Retrieved 1 August 2019.
  2. ^ a b c "Preliminary Results 2015" (PDF). DFS. Retrieved 1 December 2015.
  3. ^ a b c d e "Sofa king sitting pretty on £315m pile". The Star. 22 October 2002. Archived from the original on 31 October 2002. Retrieved 1 December 2015.
  4. ^ "Increased and final offer". InvestEgate. Retrieved 1 December 2015.
  5. ^ "Outlook: Just say no to Kirkham's insulting DFS bid". Independent, The (London). 6 October 2013. Retrieved 1 December 2015.
  6. ^ "World Business Briefing". The New York Times. 23 July 2004.
  7. ^ "Latest News and Features: Famous Doncastrian: Graham Kirkham". Donny Online. Retrieved 1 December 2015.
  8. ^ "DFS sofa chain sold to private equity firm". BBC News. 23 April 2010. Retrieved 12 November 2014.
  9. ^ Blitz, Roger (20 August 2014). "DFS buys smaller furniture chain Dwell". FT. FT. Retrieved 6 November 2014.
  10. ^ "DFS Acquires Aspirational Brand". Retail Week. 1 November 2013. Retrieved 6 November 2014.
  11. ^ "Furniture chain DFS returns to stock market". BBC News. 6 March 2015. Retrieved 8 March 2015.
  12. ^ "Tom Adams - obituary". The Telegraph. 15 December 2014. Retrieved 1 December 2015.
  13. ^ "Advert banned for inflated sofas". BBC. 3 December 2008. Retrieved 1 December 2015.
  14. ^ "10 of the best - worst adverts of all time". Daily Record. 12 December 2008. Retrieved 4 July 2013.
  15. ^ Sweney, Mark (11 December 2008). "The worst TV ads of 2008: Federer, Woods and Henry take a bow". The Guardian. London. Retrieved 4 July 2013.
  16. ^ "Orchard Furniture To Sell Assets for GBP1.5M". Factiva. Dow Jones. 15 June 1999.
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