Luxury brand joins burgeoning roster of approved suppliers
By Andy Kriege, YSN
BrandSource Financial (BSF), AVB’s member-owned finance company, has added innovative luxury appliance brand Dacor to its growing list of over 65 approved suppliers.
Effective immediately, inventory financing for Dacor’s product line will be available to all participating BrandSource members through BSF.
See: BSF’s Supplier List
Since its founding in 1965, the California company has sought to provide luxury appliance consumers with the best in product selection and product experiences. With a continuous stream of beautifully designed, innovative products, Dacor quickly cemented its place as a forward-thinking premium appliance maker that has captivated the discerning luxury consumer.
Dacor’s line of kitchen and cooking appliances includes refrigerators, ranges, cooktops, wall ovens, dishwashers, warming drawers, microwaves, ventilation hoods, wine dispensers, barbecue grills and beverage centers.
The partnership was announced by BSF General Manager Christine Moore. “I am always happy to announce new suppliers, and this is another great one that fills a niche in the luxury market,” she said.
The addition of Dacor comes at a most opportune time, Moore said, following the introduction of a new 48-inch French-door refrigerator and other fresh product at January’s Kitchen & Bath Industry Show (KBIS), and coinciding with next week’s BrandSource Summit.
“I am really excited about this partnership as it will benefit a great number of our participating members and give them an option to finance Dacor through BSF rather than through one of our distributors,” Moore said. Members often wait for the group’s Summits or Conventions to add new lines to their BSF accounts, and will have that opportunity next week in Las Vegas.
Related: Chris Moore’s Goal: Never Drop the Ball
Chad Evans, VP of merchandising for AVB BrandSource, is equally excited about members’ newfound access to in-house financing for Dacor. “Adding a strong luxury brand like Dacor to the BSF portfolio is a big win for our BrandSource members using BSF,” he said. “Luxury appliances have always been a big part of our members’ businesses and it is exciting to have a strong partnership with Dacor to build around.”
See: BrandSource Embraces the Luxury Market
Dacor is the latest in BSF’s growing roster of approved suppliers and Moore expects the new addition to generate additional business for AVB’s flooring arm. “The fact that our supplier list continues to grow makes BSF even more appealing,” she said. “That one new brand we add may be the reason a member starts using our program. And the more brands members finance through BSF, the more it drives their annual cash distributions. Definitely a win-win!”
Member payouts were set at 50 basis points this past December, up 25 percent over the prior year, which delivers $500 to dealers for every $100,000 in annual volume financed through BSF.
See also: Big News from BrandSource Financial
The annual cash distributions are just one benefit of member ownership of BrandSource’s floor-planning arm. The ease of central billing is another big draw, saving members time and money for each brand they finance through BSF. In addition, dealers also enjoy no-interest inventory financing, extended terms, and can layer in additional vendor financing plans as well.
A further financing benefit is cash flow. “Sometimes members tell me they have strong cash flow, and ask why they would need to use BSF,” Moore said. “I return the question and ask, ‘Why wouldn’t you?’ Taking advantage of extended terms further strengthens your cash flow, and good cash flow is key during good times as well as challenging times.”
YSN publisher AVB BrandSource is the nation’s largest merchandising and marketing co-op for independent appliance, mattress, furniture and CE dealers.