Lorts Manufacturing found itself in a stagnant market segment of higher end, custom, domestic furniture. During the boom time of the early to mid-2000’s, the high-end furniture market in the US was growing at an incredible rate. Easy access to low priced 1st and 2nd mortgages fueled the growth with cash flowing.
The economic crash of 2008-09 crushed the furniture industry. Lorts Manufacturing suffered plummeting demand as well. And although Ty Lorts was able to navigate the downturn when many of his competitors didn’t survive, something needed to be done to drive the top line to growth.
Ty Lorts, CEO Leadership: Culture of Execution and Integrity
“I evaluated the existing marketplace and determined that an entry into the hospitality and commercial furniture business made the most sense. It would be a challenging endeavor as residential and commercial furniture had very little shared marketing opportunities. Each segment had its own trade shows and sales reps. But by communicating with the existing Lorts team and by relentless effort, I was able to bring Lorts to become an important part of the commercial furniture world,” Lorts said.
Ty was able to grow from essentially zero to 60% of total revenue in just a few years.
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Contact Ty Lorts via LinkedIn or his Career WebFolio.
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