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Bombay Company

Headquarters:
550 Bailey Ave.
Fort Worth, TX 76107
Employees: 1,900
CEO: David Stewart
Stock Symbol: BBA

Website: http://www.bombaycompany.com

Career Site

The Bombay Company, Inc. and its wholly-owned subsidiaries design, source and market a unique line of fashionable home accessories, wall decor and furniture through a network of 472 retail locations throughout the United States and Canada, through specialty catalogs, over the Internet and internationally through licensing arrangements. Most stores are located in shopping malls.

Bombay is heavily involved in the design and importing of its producs. Approximately 90% of its product is sourced from more than 20 foreign countries. Over 95% of the product has been designed or styled to Bombay's specifications.

The company has closed several stores this year and laid off executives in a bid to reduce costs.

In fiscal 2006, Bombay reported revenues of $565.0 million and a loss of $46.7 million.

History

1978 Brad Harper starts The Bombay Company in New Orleans. He sells inexpensive reproductions of traditional 18th and 19th century English furniture. He advertises in magazines and ships the unassembled furniture to customers, who assemble and display these pieces in their homes. Originally a strictly mail-order company, Mr. Harper subsequently opens two retail stores in New Orleans.
1980 Harper seeks a buyer and eventually sells the U.S. operating rights and established overseas supply channels to Tandy Brands, Inc. (NASDAQ: TBA), a Fort Worth, Texas based holding company.
1981 Realizing the huge potential of Bombay, Tandy Brands purchases the Canadian rights from Robert E.M. Nourse, thus owning the concept for all of North America. Mr. Nourse continues to manage the Canadian operations.
1983 Mr. Nourse moves to the U.S. and assumes responsibility for all retail operations.
1983-1991 Mr. Nourse, teamed with wife Aagje, refines the concept, capitalizing on the uniqueness of the product and value offering. Bombay designs and sources its own proprietary home furnishings through an overseas network of contract factories and agents, resulting in a unique, fashion-focused product line. The style and tone reflects a sophisticated look featuring traditional and classic furniture with coordinating accessories and wall decor. Bombay becomes one of the first national mall-based home furnishings retailers offering convenience, value and fashion, and expands to over 300 stores throughout North America.

1992 Bombay tests a new 4,000 square foot store. Based upon this successful test, the Company undertakes an aggressive plan to convert the 1,500 square foot mall stores to the larger 4,000 square foot version. In response to customer demand, Bombay expands into larger pieces of furniture. To stay current with the customer's needs and lifestyles, Bombay offers complete furniture collections that are focused on the rooms most relevant to the customer - the home office, bedroom, dining room and family room.

1996 With Internet accessibility on the increase, Bombay creates a website presence to promote and sell its core store offerings and becomes one of the first online home furnishing retailers.
1997 Bombay introduces a new logo and an updated store design. This new look is more in touch with the retail environment and sophisticated customer tastes.
1998 Bombay develops a strategy to expand its Bombay Outlet stores by focusing beyond just clearance. Buyers develop a complementary assortment, unique to the Bombay Outlets, yet still in touch with the Bombay brand. With over 45 stores across the United States and Canada, Bombay Outlets offer exclusive home designs at price points and values targeted toward the outlet customer.
2000 As new alternatives to malls evolve and lifestyle centers offer shopping alternatives, Bombay tests off-mall locations. Successful response leads to evolution from an almost exclusive mall based concept toward these new locations.
2001 As an extension of Bombay's core brand and with the goal of developing lifelong customers, the first BombayKIDS store is launched as a website in August 2001. A catalog is produced and mailed in September. Both the catalog and website feature inspired designer looks for kids of all ages with a concentration on bedroom furniture and accessories.
2002 The first BombayKIDS store opens in Dallas, TX. With its mix of high-quality furnishings and imaginative textile collections, the store is a huge success. Four more stores quickly follow and the Company ends the year with five BombayKIDS stores and a new growth vehicle.

Updated November 2, 2006