Former Granite Furniture executive Tom Richards has acquired controlling interest in Collett's Home Furnishings in Midvale and Ogden and is in the process of finalizing total acquisition of the operation that is expected to be completed in weeks.
Financial information was not disclosed.Richards, 40, left Granite last March where he was a buyer and director of the advertising department. His father, the late Henry W. Richards, was chairman and president of Granite, and his grandfather, Willard B. Richards Jr. was founder.
"I just decided it was time for me to get out and do something on my own," said Richards, who said he heard about the opportunity to acquire Collett's after he left Granite.
In addition to the two stores, Collett's has an 80,000 square-foot warehouse and clearance center at 7200 S. and I-15. The company was founded 14 years ago by Ferris Collett. The Midvale store is 50,000 square feet, the Ogden store slightly smaller. The company employs about 100 people in the three facilities.
Richards said long-time Collett's customers will see continuity under the new owner. Richards said he will retain the Collett's name for the stores.
"We're (Collett's) not number one or two, but we are a good strong number three," in sales volume, said Richards. "I'm not out to bump heads with the competition, just run a good business."
He said Collett's would maintain its traditional marketing niche which he described as "middle of the road; lower middle to upper middle" prices. He said the store is "very style conscious. We feature the latest trends and styles in the home fashions industry."
Richards said he learned his business philosophy from his father and will carry it on as president of Collett's. He said that philosophy comprises "integrity, outstanding quality, genuine value and service second to none."