Walter E. Smithe Furniture, a prominent name in the world of furniture design and retail, has been crafting exquisite pieces and shaping homes for generations. Established in 1945 by founders Walter Edward Smithe and Bill Shanahan, the company began its journey as Tone Appliances and Furniture.
Through strategic evolution and a keen eye for market trends, it transformed into Walter E. Smithe Furniture, becoming a hallmark of quality and customization in the furniture industry.
| Brand Name | Walter E Smithe |
| Founder | Walter Edward Smithe & Bill Shanahan |
| Origin | American |
| Established In | 1945 |
| Industry | Furniture & Design |
| Headquarters | Itasca, Illinois |
| Operational Areas | United States |
| Walter E Smithe Net Worth | $3.4 billion (Last Updated August 2023) |
Walter E Smithe Net Worth
Walter E. Smithe Furniture has emerged as a prominent player in the furniture industry, and its success is mirrored in the reported net worth of $3.4 billion. This substantial net worth speaks to the company’s enduring impact and its ability to navigate the dynamic landscape of furniture design and retail.
With a legacy spanning several generations and a commitment to innovation and personalized service, Walter E. Smithe Furniture has not only crafted exceptional pieces but also built a financial foundation that reflects its influence within the market.
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Walter E Smithe Revenue in 2022
In the year 2022, Walter E. Smithe Furniture achieved a notable revenue milestone of $130.0 million, underscoring its strong financial performance and continued prominence in the furniture industry. This figure speaks to the company’s enduring appeal, dedication to quality craftsmanship, and its ability to meet the evolving demands of its customers.
Walter E Smithe Founders
Walter E. Smithe Furniture was founded by Walter Edward Smithe and his business partner Bill Shanahan in the year 1945. Walter Edward Smithe, a visionary entrepreneur, played a pivotal role in establishing the company’s foundation and guiding its growth trajectory in the furniture industry.
His innovative spirit, along with his commitment to quality and customer satisfaction, laid the groundwork for what would become a renowned name in the world of furniture design and retail. Walter Edward Smithe’s legacy continues to influence the company’s values and approach, shaping its enduring reputation for craftsmanship and personalized service.
Walter E Smithe History
The history of Walter E. Smithe Furniture is a journey of evolution, innovation, and family legacy. The company traces its roots back to its founding in 1945 by Walter Edward Smithe and Bill Shanahan. Originally known as Tone Appliances and Furniture, the business began as a single store on Belmont Avenue in Chicago, with the founders envisioning a post-World War II economic boom.
As the years passed, Walter E. Smithe, Jr., along with his brothers Gary and Tomm, joined the business in the 1960s, gradually shifting its focus from appliances to custom upholstery. By the 1970s, Walter E. Smithe, Jr. had left the original store to establish his own company under the name Walter E. Smithe, which would become synonymous with quality furniture and personalized design.
Throughout the 1970s and 1980s, Walter E. Smithe’s sons, namely Walter, Tim, and Mark, further infused the company with innovation and business acumen. The company expanded its offerings and established a presence across the Chicago metropolitan area, opening ten showrooms in Illinois and Indiana.
A defining aspect of Walter E. Smithe Furniture’s history is its iconic television commercials. The Smithe family’s lighthearted and creative advertisements, often starring the family members themselves, became a fixture of Chicago media, showcasing their personality and approachability. These commercials not only promoted their furniture but also solidified their identity as a distinct and recognizable brand.
The evolution continued as the company entered the new millennium. In 2017, the Smithe family welcomed the fourth generation into the business, with the daughters of Walter E. Smithe III taking center stage in their commercials.
From its humble beginnings to its present-day status as a leading name in furniture design, Walter E. Smithe Furniture’s history reflects a dedication to quality, innovation, and personalized service. Across generations, the Smithe family’s commitment to transforming houses into homes remains at the heart of the company’s enduring success and reputation.
Walter E Smithe Competitors
Here are some of Walter E. Smithe Furniture’s notable competitors:
- IKEA NORTH AMERICA SERVICES
- RTG FURNITURE CORP. & AFFILIATES
- BOB’S DISCOUNT FURNITURE
- RAYMOURS FURNITURE
- NEBRASKA FURNITURE MART
- SCHOTTENSTEIN STORES
- AMERICAN FURNITURE WAREHOUSE
- HAVERTY FURNITURE COMPANIES
- LIVING SPACES FURNITURE
These companies share the same industry landscape, each contributing their unique approach to furniture design and retail while competing for a market share and customer loyalty.
Walter E Smithe Lesser Known Facts
Here are some key facts about Walter E. Smithe Furniture.
- Annual Revenue Range: Walter E. Smithe Furniture’s annual revenues fall within the range of $100 million to $500 million.
- Employee Range: The Company employs Between 100 to 500 individuals, contributing to its operations and growth.
- Industry: Walter E. Smithe Furniture operates primarily in the Furniture Stores industry, with NAICS codes including 4421 and 44211.
- Location: The Company is based at 1251 W Thorndale Ave, Itasca, IL 60143.
- Website: The official website of Walter E. Smithe Furniture is smithe.com.
- Competitors: The Company faces competition from various firms in the furniture industry, including well-known names like IKEA NORTH AMERICA SERVICES, RTG FURNITURE CORP. & AFFILIATES, and BOB’S DISCOUNT FURNITURE, among others.
- Founder: Walter E. Smithe Furniture was co-founded by Walter Edward Smithe and Bill Shanahan in 1945.
- Generational Involvement: The business spans multiple generations of the Smithe family, with Walter E. Smithe III and Mark Smithe (Smithe Brothers) currently leading the company as President and VP/Legal Counsel, respectively. The fourth generation, the Smithe Sisters, are also involved in various roles within the company.
- Unique Selling Proposition: Walter E. Smithe Furniture specializes in custom-order furniture and offers a wide range of design services to its customers. The company employs Chicagoland’s top designers to assist customers with furniture selection, color coordination, space planning, and more.
Frequently Asked Questions (FAQs)
Who founded Walter E. Smithe Furniture?
Walter E. Smithe Furniture was founded by Walter Edward Smithe and his business partner Bill Shanahan in 1945.
What is the annual revenue range of Walter E. Smithe Furniture?
The annual revenues of Walter E. Smithe Furniture fall within the range of $100 million to $500 million.
How many employees does Walter E. Smithe Furniture have?
The company has between 100 to 500 employees, contributing to its operations and growth.
What industry does Walter E. Smithe Furniture operate in?
Walter E. Smithe Furniture operates primarily in the Furniture Stores industry, with NAICS codes including 4421 and 44211.
Who are some of Walter E. Smithe Furniture’s competitors?
Notable competitors of Walter E. Smithe Furniture include IKEA NORTH AMERICA SERVICES, RTG FURNITURE CORP. & AFFILIATES, BOB’S DISCOUNT FURNITURE, and others.
What role does the Smithe family play in the company’s leadership?
Walter E. Smithe III and Mark Smithe (Smithe Brothers) lead the company as President and VP/Legal Counsel, respectively. The fourth generation, the Smithe Sisters, are also involved in various roles.
What sets Walter E. Smithe Furniture apart from others?
Walter E. Smithe Furniture specializes in custom-order furniture and offers a range of design services through its team of top designers. The company’s commitment to personalized assistance and diverse product offerings distinguishes it in the market.
