Warren Buffett Company Giving Away 30,000 Pieces of Furniture if Red Sox Win World Series

Jordan's Furniture, a store owned by Warren Buffett, made a bet with its customers last spring that if the Red Sox won the world series, any furniture (sofas, tables, mattresses) purchased between March 7 and April 16 would be free. The company is now looking at the very real prospect of paying back millions of dollars.

The Boston Globe had in interesting article today following up on one of the odder furniture promotions.  Jordan's Furniture, a store owned by Warren Buffet, made a bet with its customers last spring that if the Red Sox won the world series, any furniture (sofas, tables, mattresses) purchased between March 7 and April 16 would be free.  The company is now looking at the very real prospect of paying back millions of dollars.

The company doesn't seem to mind.  The company's President and CEO Eliot Tatelman bought an insurance policy to cover the possibility of the Red Sox doing well and is preparing a series of commercials reminding customers of the deal.  It's a win-win for all involved, except maybe for the insurance company that provided the policy.

In the Massachusetts, Jordan's Furniture is known for its whacky and unorthodoxy marketing tactics.  Almost all of its stores are equipped with an IMAX theatre and many have a theme.  Their large Natick store is decorated like New Orleans, complete with a replica Bourbon Street and customer service reps handing out beads. 

The furniture itself is okay.  In the past, it tended to be large and rather blocky but the company has made an effort to expand into more contemporary designs.  IKEA recently set up shop next to its Stoughton store, surely giving them some food for thought. 

Still, as an advertising/promotion machine Jordan's is second to none.  The founders Barry and Eliot have also satured the airwaves in New England with their quirky ads.  With the Red Sox promo, the company may have suceeded in tapping into one of the region's most powerful sports moments.

Warren Buffett must have liked their unorthodox approach because he purchased the company in October 1999.

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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Comments

  • gosox

    October 25, 2007

    so far, so good for all of those that purchased furniture.

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