Retail Observer

RETAILOBSERVER.COM MAY 2023 56 B randSource Financial (BSF), AVB's member-owned finance company, has added 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 members of the BrandSource buying group through BSF. The company's collection of luxury 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. 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's exciting to have a strong partnership with Dacor to build around." 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 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 most recently set at 50 basis points, up 25 percent over the prior year, which delivers $500 to dealers for every $100,000 in annual volume financed through BSF. 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, increased cash flow, and can layer- in additional vendor financing plans as well. BSF's many benefits were not lost on BrandSource member Richard Husky. The owner of Oasis Home Center in Marion, IL, moved his finance business to BrandSource Financial just over a year ago and is delighted with the service, options, rates, and most of all, the results of that move, as reflected in his bottom line. "The life of a retailer can be extremely hectic, and it is tough to stay on top of everything," said Husky, who finances about 80% of his inventory through BSF. "The BSF team does a great job of keeping us informed about new opportunities and the status of our business. They have been very responsive from day one, and there has never been a delay or a time when we are waiting for anything. Getting the distributions on the back end is fantastic as well." BSF General Manager Chris Moore is equally pleased with the partnership. "It's great working with Rich," she said. "He makes it a point to meet at every show to touch base on his account and review new vendor lines." Added Moore, "Rich was instrumental in successfully launching Oasis Outdoors' grand opening early last year. He contacted me in advance to ensure BSF was able to support their home center's inventory financing needs. Oasis has been another great addition to our portfolio and BSF family." BRANDSOURCE FINANCIAL WELCOMES DACOR Innovative luxury brand joins the BSF supplier roster Andy Kriege Inventory Finance Trends Andy Kriege is General Manager of Communications at AVB BrandSource, the nation's largest merchandising and marketing co-op for independent appliance, mattress, furniture, and CE dealers. RO Richard Husky of Oasis Home Center with BSF General Manager Chris Moore at AVB's Summit 2023

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