Retail Observer

RETAILOBSERVER.COM NOVEMBER 2023 52 B randSource Financial (BSF), the AVB BrandSource buying group's member-owned finance company, has added innovative premium appliance brand Fotile to its growing list of over 60 approved suppliers. Effective immediately, inventory financing for Fotile's product line will be available to all participating BrandSource members through BSF. The partnership was announced by BSF General Manager Chris Moore at the recent BrandSource Convention in Nashville. "I am always happy to announce new suppliers, and this is another great one that fills a niche in the appliance market," she said. "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 Fotile through BSF rather than paying direct or through a distributor." Fotile has a full line of high-end kitchen appliances that includes range hoods, cooktops, steam ovens, convection ovens, and in-sink dishwashers. The company has an international presence, having served more than 30 million families from over 30 countries for over 25 years. In addition, Fotile has earned over 8,200 patents (more than 2,100 for invention) and over 75 top international design awards, including 46 iF awards and 29 Reddot awards. Fotile 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!" Jason Gastman, business development manager at Fotile, was looking forward to expanding the relationship with BrandSource through the partnership with BSF. "We are very excited about this partnership, as it gives BrandSource members an opportunity to offer unique and innovative kitchen appliances that Fotile brings to the table," he said. "This will strengthen our relationship and help us build awareness and interest for the Fotile brand within the group." To celebrate the partnership, Fotile awarded a ChefCubii 4-in-1 countertop convection steam combi oven with air fryer to one lucky member at the 2023 Convention who planned to add the brand to their assortment. The random winner was Ed Stewart of Stewart's Appliances in Elyria, OH, who was "happily surprised" to win the prize. "We are having fun learning how to use it, and we are looking forward to working with Fotile in the future," Stewart said. As AVB's in-house floor planning arm, members who utilize BSF pay no interest on inventory financing, and profits from the program are funneled back to the dealers in the form of annual cash distributions (ACDs). The program is now in its 13th year and is gaining momentum as it adds more members, vendors and highly sought-after payouts. Mark Pardini, owner of Pardini Appliance in Ukiah, CA, and a BrandSource Hall of Fame inductee, was among the first adopters of the program and has been tapping group financing since BSF's inception. "The annual cash dividend is the best in the industry," he said, "and you own the company. If you owned a gas station, why would you buy gas from your competitor? You own this gas station. Support it. "If you are not using BSF, you are missing out on the best program BrandSource has to offer," he added. "It's a no-brainer." BRANDSOURCE FINANCIAL PARTNERS WITH FOTILE Kitchen appliance brand joins BSF's expanding list of suppliers 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 The winner of the Fotile combi oven, Ed Stewart, received the good news from BSF's Chris Moore at the Nashville show.

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