Louis Shanks featured in Furniture/Today

Posted on February 9th, 2012 • 0 Comments

Tags: news , Louis Shanks , furniture , Mike Forwood interview , Furniture/Today

Louis Shanks was recently profiled in a new column called “On the Road” in leading industry publication Furniture/Today. The objective of the series is to profile home furnishings merchants who are “winning in today’s challenging retail arena using a variety of innovative strategies.” Writer Clint Engle interviewed Louis Shanks president Mike Forwood to gain a little insight into what makes the store unique and successful.

Shanks’ diligent merchandising, attention to detail in display and operations and nimbleness that goes along with being a family-owned, family-run business are among the key factors that have kept the Top 100 company at the top of its game in Texas while some high-end contemporaries – in this state and in other markets – have fallen by the wayside.

Fifteen years ago this month, Louis Shanks was featured in a Furniture/Today series called America's Best Retailers. Back then, Shanks was noted in the story for its aggressive newspaper advertising, its comprehensive sales training and a tightly edited product lineup largely focused on a "Sweet 16" list of manufacturers.

A lot has changed since then, partly out of necessity but also because that's how Shanks has always operated - adjusting quickly to take advantage of opportunities as they arise or to squarely meet new challenges.

Many of the erstwhile Sweet 16 suppliers, including Barcalounger, Drexel Heritage, Highland House, King Hickory and Woodmark, Shanks no longer carries and/or they are out of business. The reason, according to Mike Forwood, is simply "product." Shanks buyers now go wherever it takes to find goods that fit its upscale niche. Some sources haven't been able to keep up. "It's not the Sweet 16 any more, it's the Great 48 or whatever you want to call it. It's because I've had to diversify," he said.

While it's more work, the broader variety has made the stores more interesting to walk through and helps Shanks offer what it has long strived to provide - a look that can't be duplicated in just any store. This dedication to creating unusual, unforgettable displays has never changed for the retailer, though the way Shanks goes about it is always evolving to deal with distribution challenges and the needs of consumers, who are savvier than ever before.

The third generation operator, who has brought his own two children into the business, said the retailer has navigated rough waters without having to change its core business model. "We still want to be known as the nicest store in this part of the country," said Forwood  - not just in high-end furniture, but in all of retail.

-Excerpted from “On the Road: Louis Shanks keeps Evolving” Furniture/Today by Clint Engle