Winston-Salem, N.C. - BrandSource Florida, a division of BrandSource, will be moving its membership over to Nationwide Marketing Group (NMG) as of June 1 and will continue operations under the new name, Nationwide Florida.
This decision was made at a meeting held last week in Orlando attended by the group's board of directors and a majority of their membership, Nationwide said.
This comes a day after a
that it is creating a new Florida region "in an effort to better serve consumer electronics, furniture, floor covering and appliance dealers."
In neither buying group reported how many individual retailers were involved in the creation of these new divisions or what the annual sales of each group generates. But Nationwide claimed in a statement that BrandSource Florida's membership "represents the majority of independent appliance buying group dealers in Florida."
In the most recent sales estimates of both buying groups by TWICE in the May 2, 2011 issue BrandSource had sales CE, major appliances, furniture and bedding of $14 billion annually and 4,500 members while Nationwide had combined sales of $12 billion and 3,000 members.
Nationwide said it will now have the power of six regional divisions servicing the independent channel across the country including NECO, Nationwide Southwest, Nationwide West, Nation's BrandDirect, United Stores and Nationwide Florida.
"We are very pleased and proud to have such a large group of successful dealers join us to form our new Nationwide Florida division," said Robert Weisner, CEO of Nationwide in a statement. "We believe this will make our group a dominating force in the state of Florida's retail marketplace."
For 15 years, Tom Jessup has led the BrandSource Florida group as president. Nationwide said BrandSource Florida has a much longer history in the region as one of the original buying organizations started nearly 30 years ago under the Key America Group. When the breakup of Key America Group occurred nearly a decade ago regions affiliated themselves with other buying groups including Nationwide Marketing Group.
"We have been watching the direction and focus of Nationwide over the past seven years and like what we have seen," said Jessup. "We reevaluated what we have today with AVB/BrandSource and decided along with our board of directors and members that we would get a much higher level of service as a division of Nationwide so decided to join their organization," he said in a statement from Nationwide.
"We feel that the autonomy we will now have running our division will only enhance our services and translate into more opportunities for profit and sales for our membership," said Jessup.
Nationwide Marketing Group along will celebrate 40 years of service at their biannual Nationwide PrimeTime! buying show and strategic conference on August 21-24, 2011 at the Gaylord Texan in Dallas