Fantastic Furniture Explained

Fantastic Furniture
Foundation:1989
Location City:Chullora, New South Wales
Location Country:Australia
Key People:Kieron Ritchard (CEO)
Area Served:Australia
Industry:Manufacturing and Retailing
Products:Household furniture
Num Locations:86[1]
Num Locations Year:2023
Num Employees:1,000+ (2019)
Parent:Greenlit Brands

Fantastic Furniture is an Australian owned and operated furniture retailer. It is a subsidiary of Greenlit Brands.

History

Fantastic Furniture started as a market stall at Sydney's Parklea Markets in 1989, by friends Paul Harding and Jonathan De Jong, selling outdoor furniture. Two years later, the first Fantastic Furniture public store opened at Birkenhead Point.[2]

In 1992, the Fantastic Lounge Factory opened and started production of Australian made sofas and lounges for Fantastic Furniture.[3] Today, the Sydney-based factory is the largest manufacturer of sofas in the Southern Hemisphere and produce and deliver over 130,000 sofas and lounges each year.

In the following years, the business could not keep up with the demand and in 1996 it went into administration. The business was subsequently acquired by Peter Brennan, Peter Draper and Julian Tertini and underwent a restructure.[4] Over the next few years a number of Fantastic Furniture stores opened across NSW. [5]

In 2006, Fantastic Furniture acquired Royal Comfort Bedding (RCB),[5] a NSW mattress manufacturer, to produce its mattress range in Australia.

Today, Fantastic Furniture is a national chain with over 70 stores around the country.[6] In August 2017, Fantastic Furniture partnered with CB2 x Fred Segal.[7] In 2016, it was included in the takeover of Furniture Holdings by Steinhoff International and delisted from the Australian Securities Exchange.[8] [9]

Controversies

In September 2015 it was reported that a dining chair sold by Fantastic Furniture had cut off an individual's toe after being caught in the inner side of one of the chair legs.[10] In January 2016 Fantastic Furniture was forced by the Australian Competition and Consumer Commission (ACCC) to recall the chair.[11]

Notes and References

  1. Web site: Find your local Fantastic Furniture store | Fantastic Furniture .
  2. Web site: Company Story . Custom Made Media Australia . 4 September 2014.
  3. Web site: About Us . dead . https://web.archive.org/web/20150218061030/https://www.fantasticfurniture.com.au/aboutfantastic . 18 February 2015 . 4 September 2014 . Fantastic Furniture.
  4. Book: The Fantastic Trust Story . October 2011 . Vanessa Hall . 9781937110215 . 5 September 2014.
  5. Web site: About FHL . . 4 September 2014 . https://web.archive.org/web/20150227005012/http://fantasticholdings.com.au/retail-brands/fantastic-furniture . 27 February 2015 . dead .
  6. Web site: Survey Reveals Housework Wars Behind Closed Doors . Femail . 8 September 2014.
  7. News: CB2 x Fred Segal Debut New Fantastic Furniture Collaboration Today. 3 August 2017. The Manual. 16 October 2017.
  8. https://www.reuters.com/article/us-steinhoff-intlnl-fhl-m-a-idUSKBN12G0WZ Steinhoff to acquire Australia's Fantastic Holdings for $274 million
  9. https://www.asx.com.au/asxpdf/20161221/pdf/43dx4n919d6bll.pdf Fantastic Holdings Limited: Removal from Official list
  10. Web site: Unhappy furniture owner wants compensation after chair cuts off his toe . Rolfe . John . 24 September 2015 . Daily Telegraph. 22 June 2016 . The middle toe of his left foot got trapped in the inner side one of the legs and, as he fell, the sharp metal edge sliced it off..
  11. Web site: Fantastic Furniture forced to recall 'toe-slicing' chairs . Toscano . Nick . 13 January 2016 . Sydney Morning Herald. 22 June 2016 . tapering on the inside bottom of the chair legs may lead to an entrapment or laceration hazard.