NEW DYNAMICS AT PLAY

In 2002, Stéphane Lesage, Vice-President of Operations – who, at the time, has been overseeing production for more than a decade – becomes a Baronet shareholder; it’s a premiere, Baronet having been until then (that is, for more than 50 years) under the sole ownership of the Lacroix family.

At that time, Baronet employs more than 350 people.

The following year, a wide array of improvements is undertaken at Baronet’s facilities; in total, the company will spend 3 million dollars on these various upgrades. Well aware that the factory’s location – in a residential sector – is not ideal, Baronet’s management is however determined to take all necessary action to eliminate the sources of inconvenience some neighbors have complained about, because the other solution (moving operations elsewhere) would mean uprooting the company from the region that has seen its birth and, moreover, causing many job losses in the community. Despite all its efforts, Baronet is forced, in 2004, to transfer part of its activities to Victoriaville, where it opens an assembly factory called B2.

With the launch of the Baronet Silver ® line, the same year, the company reaffirms its dedication to satisfying the 21st century furniture consumers with style.

In the fall of 2007, Baronet’s operations in Sainte-Marie are stopped. The decision is all but easy to make; nonetheless, the facts ultimately become difficult to misinterpret: appreciation of the Canadian dollar, decline in sales due to insecurity in the American market, competition from the emerging countries and recurring problems associated with the operation of the factory in Sainte-Marie, as mentioned above: shutdown is inevitable.

No offer having been made by any of the potential acquirers who had expressed an interest after the shutdown, on November 8th, Baronet’s management decides, in January 2008, to sell its real property and movable assets. The development of a new business plan starts at the same time, with the goal of bringing Baronet products back on the market by fall 2008.

In 2009, new editions of Baronet designs, such as the Vendome collection, are released on the Canadian and American markets.

Baronet’s mission, which is to offer the best quality residential furniture design at an affordable price, now has a new meaning: the company’s products are offered for licensing and branding to partners, first under private label, and soon under the Baronet brand.

Baronet ® Design for Life