NC Company Completes eLuxury Investment

Posted: Updated:
eLuxury, formerly known as eLuxurySupply.com, announced its move to Evansville in 2016. eLuxury, formerly known as eLuxurySupply.com, announced its move to Evansville in 2016.
EVANSVILLE -

North Carolina-based Culp Inc. (NYSE: CULP) has completed its majority ownership investment in Evansville-based eLuxury. Culp, which announced the investment last month in its quarterly earnings report, says the deal "expands our ability to participate in the rapidly growing e-commerce direct-to-consumer space."

eLuxury manufactures bedding accessories and home goods from its Evansville headquarters. Culp President Iv Culp says the investment will also expand the company's addressable market and provide a new sales channel for the company in the bedding accessories category. 

"This business combination brings together eLuxury’s experience in e-commerce, online brand building, and direct-to-consumer shopping and fulfillment expertise with Culp’s extensive global production, design and product development capabilities, and distribution network," said Culp. "We also have an opportunity to market our new line of bedding accessories, as well as other home products that we may develop, including items made from our upholstery fabrics, through this e-commerce platform."

eLuxury founder and Chief Executive Officer Paul Saunders will maintain a minority interest in the company and continue in his role. He calls the partnership with Culp a "great opportunity."

Culp manufactures mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The company has facilities through the U.S., Canada, China and Haiti. 

  • Perspectives

    • Overseas Outsourcing Can Create a World of Problems

      The internet broke down geographic barriers for businesses, making it possible to find lower-cost suppliers around the world. But if companies lack the knowledge and skills to manage those suppliers properly, they may end up spending far more than expected. We’ve worked with companies all over the globe to help our clients meet their advertising and marketing objectives while protecting their budgets. While most of those working relationships have been positive, we’ve had...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.

    • New study reveals best place in Indiana for young families

      And the Best Place for Young Families Goes To...

      What do you look for in a community when deciding where to start a family and raise your children? There can be several factors to weigh in making a sound decision. Housing affordability. Unemployment rates. Quality of education. Mortage website Lendingtree.com has released the results of a study pointing to the best places for young families in Indiana.

    • ‘Potential’ Fueling Downtown Makeover in Fort Wayne

      As Fort Wayne prepares to christen its latest big downtown project, Mayor Tom Henry says there are no signs of transformational development slowing down in the state’s second largest city. The Landing, a $34 million downtown redevelopment project, is expected to officially open soon, one of an estimated 14 projects that Henry says can help Fort Wayne become a destination city. Since the opening of Parkview Field more than a decade ago, Henry says momentum has...

    • SupplyKick CEO to Run for Governor

      The chief executive officer of Indianapolis-based tech company SupplyKick has announced plans to run for the Democratic nomination for governor. Shelbyville native Josh Owens says he will focus on issues such as increasing teacher pay, along with accessibility and affordability of life-long learning for all Hoosiers.

    • 120WaterAudit Lands $7M in Funding

      Zionsville-based 120WaterAudit LLC has closed on a $7 million Series A round of funding. The company says it plans to use the funding to enhance its digital water cloud platform and expand sales and marketing efforts. The funding round was led by Indianapolis-based HG Ventures, with participation from Allos Ventures in Indy and California-based Greenhouse Capital Partners. 120WaterAudit's platform includes software and testing kits to help government agencies, public...