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The company was founded as a housewares manufacturer in 1932 by Theodore Baumritter and his brother-in-law Nathan S. Ancell. They bought a bankrupt furniture factory in Beecher Falls, Vermont in 1936 and adopted the name "Ethan Allen" for its early-American furniture introduced in 1939, after the Vermont Revolutionary War leader Ethan Allen.
Interco took on debt to discourage other offers, and the Rales group eventually backed off. But Interco could not make enough money by selling its unprofitable operations; [2] For example, selling Ethan Allen brought in $388 million rather than the expected $550 million. The company's debt had jumped from $300 million in 1988 to $2.6 billion in ...
Preston and Horace had a daughter, Alice Gwynne Allen, who later married pilot officer Geoffrey Borden Russell, [8] as well as a son, Ethan Allen. [27] Living in Paris with her husband, Preston met and befriended some of the future key members of the Happy Valley set, such as Alice de Janzé and Josslyn Hay, 22nd Earl of Erroll.
Nathan S. Ancell (August 22, 1908 – May 31, 1999) co-founded the Ethan Allen furniture company with his brother-in-law, Theodore Baumritter, in 1932. Together, the two men pioneered the concept of selling furniture in room-style settings and built the Ethan Allen company. [1] Today, Ethan Allen has sales of nearly $1 billion. [2]
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He has been leading Ethan Allen Interiors since 1985, and four years later he formed a group to purchase Ethan Allen from Interco, a conglomerate, and subsequently took the company public. Under Kathwari's leadership, Ethan Allen Interiors has been transformed into a leading manufacturer and retailer of home furnishings in the United States.