Florida Furniture Retailer to Continue Successful Program
KETTERING, Ohio--(BUSINESS WIRE)--GE Money and City Furniture today announced a multi-year extension of their consumer financing agreement, originally formed in 1990. The City Furniture Card program is managed by GE Money's Sales Finance unit and provides instant credit at the point of sale, a simplified application process, same day delivery and account maintenance via the Web.
"Year over year, GE Money has proven their consumer financing expertise with continued innovation and customer service," said Keith Koenig, president of City Furniture. "We look forward to a continued partnership in providing financing solutions that help customers buy the furniture they want and need to enhance their living spaces."
Home furnishing purchases tend to follow a move, renovation or life event. According to Furniture Today magazine, furniture purchases are heavily influenced by recent demographic trends. Furniture Today also notes that as the generation currently with the most purchasing power, baby boomers are outspending other demographic groups by $400 billion every year on general consumer goods. According to Furniture Today, it is important for furniture retailers and manufacturers to focus on this group, which seeks comfort and safety in their new home furnishings. However, the industry must also adapt to the needs of households of those under 40 years old who are growing in influence and already spending 32 percent more on home products than those 40 and older.
"We're pleased to extend our partnership with City Furniture," said Greg Pittman, vice president and general manager of the Home Furnishings industry for GE Money -- Sales Finance. "The City Furniture Card is backed by customized, innovative technology that eases the application and purchasing process and increases a buyer's purchasing power."
About City Furniture
Founded in 1971 as Waterbed City, with a single store in Fort Lauderdale, Fla., City Furniture has grown to become south Florida's premiere home furnishings retailer. City Furniture's corporate headquarters is in Tamarac, Fla., with 14 showroom locations in Broward, Dade and Palm Beach counties. For more information, visit www.city-furniture.com.
About GE Money
With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com. GE Money's Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
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Contacts GE Money
Cristy Williams, 678-518-2596
[email protected]
Cristy Williams
[email protected]
678.518.2596