Downeast under new local ownership
Salt Lake City— Downeast announced today that the well-known furniture and woman’s apparel company is now under the ownership of Sam and Kacie Malouf, cofounders of Utah bedding and furniture company Malouf™.
“As Utah businesspeople, Kacie and I are excited to work with Downeast—a community staple,” said Sam Malouf. “They’ve done an excellent job building their brand through a unique product line. We look forward to keeping that momentum while finding new prospects for growth.”
Over the last 30 years, Downeast developed a comprehensive furniture and clothing collection sold in more than 40 retail stores throughout Utah, Idaho, Arizona and Nevada. Downeast plans to expand these lines and look for ways to improve the customer experience in-store and online.
“We’re eager to learn from Sam and Kacie’s leadership as we start a new chapter in our company’s history,” stated Downeast CEO Rich Israelsen. “As always, Downeast will maintain a strong presence in each of the communities that we’ve worked in for so many years.”
Downeast will continue to operate out of Salt Lake City with its current management and 700 employees.
As a leader in the consumer furniture and fashion apparel industry, Downeast has become synonymous with providing quality clothing and furniture at affordable pricing. Now in its 30th year of business, Downeast was founded in 1991 by three brothers: Charlie, Bill and Jonathan Freedman. The brothers began selling off-price clothing and furniture throughout the Wasatch Front in Utah. Gradually, they evolved into designing an in-house clothing line, which includes layering basic tees and essentials, monthly fashion collections and accessories all under the Downeast label in 2004. The company then added its own furniture collection in 2016, which includes sofas, dining tables, accent chairs, occasional tables, bedroom sets and home accessories. Downeast has grown into more than 40 retail locations in Utah, Arizona, Idaho, and Nevada. For more information, visit downeastbasics.com or downeasthome.com.
About Sam and Kacie Malouf
Sam and Kacie Malouf co-founded Malouf™ in 2003, which is headquartered in Logan, Utah. A Certified B Corporation®, Malouf™ offers a wide range of innovative products, including mattresses, adjustable bed bases, furniture, pillows, sheets, mattress protectors, bed frames and mattress toppers. In 2019, Sam ranked No. 2 on the national Comparably Best CEOs list for Small and Mid-Size Companies. Kacie was also named one of the most influential women in the bedding and furniture industry by Home Furnishings News magazine. Both Sam and Kacie have been recognized for their charitable efforts in their community and through the Malouf Foundation, which fights child sexual exploitation.