Bulova Corp. will significantly expand its clock line and its business in higher-end clocks and enter a growing clock market, thanks to an agreement with Sligh Furniture Co., which makes and sells high-quality wall, floor, and mantel clocks.
Under the pact, announced July 22, Bulova will take over the distribution of fine clocks to Sligh’s several-hundred retail clients and add them to its network of jewelers and clock shops. Sligh earlier this year decided to close its clock division to concentrate on its high-end home and office furniture.
Bulova will start providing clocks to Sligh customers, composed largely of specialty furniture and clock retailers, in 2006. It also will provide sales and marketing support. Sligh—pronounced “sly”—will continue to service and repair Sligh brand clocks.
The agreement gives Bulova exclusive rights to all Sligh clock designs. Any marketed by Bulova will carry its name, however, and not the Sligh brand.
“Our agreement with Sligh gives us an opportunity to create an improved and expanded clock division,” said Herbert C. Hofmann, Bulova president and chief executive officer. After analyzing Sligh’s clocks and sales performance by model, Bulova will incorporate Sligh styles that complement Bulova’s best-selling ones. Bulova’s new clock line was expected to debut in October at the High Point International Home Furnishings Show in High Point, N.C.
The agreement opens a new market for Bulova—furniture retailers, whose clocks-as-home- accessories business is growing—and increases its focus on higher-end keywind, long-case, and wall clocks.