DFS To Buy Multiyork
In the month of October rhus year, DFS witnessed drop in its profit blaming it on the competitive market.
Now, the news is finally out that the DFS will be buying a rival Muktiyork including eight store leases, the Multiyork trademark, product designs and marketing databases.
The deal is costing DFS £1.2m but comes with a huge increase in its customer reach. With purchase of Multiyork, DFS will offer jobs to all its employees.
6 of those 8 stores leased will be tranformed into trade under the 'Sofa Workshop' brand and the remaining 2 will be DFS stores. What will happen to the Multoyork factory in Thetford is not known yet. DFS owns Dwell and has recently baught Sofology too.
Gill Stewart, CEO Sofa Workshop said: that the company is very happy to get an oppprtunity to expand further by offering customers a local presence with an exclusive range of modern, luxury, hand-made furniture from Sofa Workshop. He also welcomed Multiyork employees in the group.