Pool News
Ledge Lounger Launches New Autograph Collection of Outdoor Living Furniture
Ledge Lounger, a premier name in outdoor living recently announced the launch of their new Autograph Collection. A modern and sophisticated follow-up to their award-winning Signature Collection.
What is Ledge Lounger?
Ledge Lounger is most commonly associated with their line of in-pool chaise lounges used on tanning ledges in the shallow area of the pool. Constructed of UV16-rated ultra-strong polyethylene, it’s basically the same material found in many commercial water slides. Created to withstand the harsh chemicals and UV rays found around the pool area, they’re guaranteed to remain colorfast for 10-15 years and have become a favorite add-on feature for pool buyers.
Synonymous With In-Pool Furniture
Already synonymous with the in-pool chaise lounges from their earlier collections, Ledge Lounger products as a whole have become near-ubiquitous in their association with high-end luxury pools and backyards over the past decade. We went one-on-one with Founder and Ledge Lounger CEO – Christopher Anderson to learn more about the product line.
A Long History in Pools & Outdoor Living
Anderson has long been immersed in the world of outdoor living, and first developed the concept for the Ledge Lounger line while designing & selling pools. “My father owned a swimming pool business – Custom Design Pools in Houston, TX and I grew up in the pool industry,” said Anderson. “
I swore I’d never own a pool business after growing up in it but corporate America led me back to my father’s business,” explained Anderson, “that’s when I fell in love with the design and sales side. It was actually on one of our job sites that I noticed the need for an in-water chaise and it’s where the whole idea sprung from.”
A Leader in Outdoor Living Furniture
Founded back in 2011, Ledge Lounger has its roots firmly planted in Houston which coincidentally enough seems to be where many pool innovations find their start. “I think there’s just a sense of entrepreneurism in Houston itself,” said Anderson, “there are a lot of opportunities. It seems like when most of the markets are suffering, Houston is growing. It’s a good area for innovation and development.”
Ledge Lounger as a company has come a long way since those initial forays into the outdoor living sector. The company which has experienced explosive growth in the past decade has become a recognized leader in the pool industry. Their popular line of in-pool seating products, as well as their line of outdoor furniture, umbrellas, pillows, and outdoor accessories, has been recognized for five years and running on the Inc 5000 Fastest-Growing Private Companies in America.
Ledge Loungers Autograph Collection
The Ledge Lounger Autograph collection officially launched on March 16th, and features a robust catalog of new chaise lounges, chairs, headrest pillows, and side tables. The new designs are a sophisticated reimagined look for contemporary in-pool and outdoor living furniture.
The first design element you notice about the Autograph chaise are the chairs striking architectural silhouette. This chair is ideal for tanning ledges with up to 12″ of water. The Autograph chaise features improved raised ergonomics and increased lumbar support, allowing you to relax comfortably in your outdoor environment.
Meant to resist the elements of any pool or outdoor area, the Autograph chaise loungers are built to last. Made from color-stabilized UV16 resin, this in-pool furniture can withstand up to 16,000 hours of direct sunlight without ever losing its luster.
The Autograph collection chairs are equally as impressive in the water as they are sitting on the pool deck. Available in 4 distinct colors (white, sandstone, cloud and granite grey) these versatile chairs look stunning in and out of the water. Combined with one of the new Autograph side tables, this combination has all the makings for a resort-style experience right in your own backyard.
Perhaps one of the most innovative additions to the new collection is the Autograph Ice Bin Side Table. Ledge Lounger definitely hits the mark with this stylish and useful side table that accents its chairs handsomely. The sleeky appointed outdoor accessory can hold up to 12 cans of your favorite poolside beverage.
Anderson and his team are incredibly excited to get the Autograph Collection in the hands of the industry and consumers just in time for the upcoming pool season.
Dealing With Pandemic Related Demand
Already a hit at the various industry related tradeshows they’ve attended this year, Ledge Lounger is eager to connect with pool builders. The last two years of the pandemic, most industry tradeshows were on temporary hiatus. Quarantine conditions kept the industry from gathering, consequently it also created a heavy influx of new business for the outdoor living manufacturers. Like many, Anderson and company have made adjustments to living in a Covid-19 world.
Largely Unaffected By Supply Chain Issues
During our discussion, we hit on current events such as inflation, increases in logistics and discussed what Ledge Lounger is doing to continue their plan for growth in an ever changing market. “Coming off the tailwinds of Covid, we’ve really got to focus on product development and continue to reach out to new customers and not get too comfortable with where we are at,” said Anderson. “We’re fortunate that 99.99% of our product is American made, so we haven’t had the same supply chain issues that a lot of businesses have had.”
Working Through Pandemic Related Delays & Increases
“The only reason that we’ve had longer lead times is that demand for our product outperformed our plan which is always a great situation to be in as a business,” explained Anderson, “it did create some scenarios though where we weren’t able to follow through on our commitments from a lead time perspective.” It’s a problem that Anderson has taken steps to prevent this year by making certain they have enough product on hand to facilitate incoming orders at the height of the season. “We’re really focused on improving lead times this year so that we don’t miss any deadlines and ensuring that we’re able to meet the demand this year.”
Like many manufacturers, Ledge Lounger has had to raise prices on their products as well as on shipping. Rising costs for fuel are sharp increases the company has no choice but to pass on to consumers. “Absolutely, shipping costs have risen – we’re dealing with higher costs,” explained Anderson, “some of the material costs have increased. We haven’t had a price increase in over 6 years. This was the first year where we’ve had to raise prices. Ultimately over the last 6 years prices have gone up but we’ve found more efficient ways to manufacture our products. This was the first year in recent history where cost increases outpaced efficiencies we could find.”
Positioning For Growth in a Post-Pandemic World
This year’s pent up demand for pools appears to be the last thralls of what became an unprecedented demand for backyard improvements during the height of the pandemic. Many analysts predict that the sharp incline in consumer interest is beginning to fade. Ledge Lounger however, is positioning for growth in other ways.
While very successful at attracting a long list of distributors, Ledge Lounger is putting more emphasis these days on connecting with the direct point of sale, namely pool builders. Leveraging the market penetration of industry standard design tools like Structure Studios, Ledge Lounger is now closely integrated with the 3D design software. “
What they’ve created since the beginning is just ground breaking,” said Anderson, “It creates a great opportunity for vendors like Ledge Lounger to be able to make their products available to the pool builders to enhance their designs. It also creates visibility at the consumer level for our products.”
Partnering At The Point of Sale
Ledge Lounger has doubled down on that strategy by offering pool builders in-house design services. “A pool builder can send us their Pool Studio file and we will actually utilize our design team to layout a backyard space then send that file back to the pool builder with a cost estimate,” said Anderson, “They can then go offer that setup to their customer and know what their exact price is going to be, put their markup on it and sell it directly to the homeowner; really taking out need for the pool builder to design it.”
Ledge Lounger will be attending this year’s Pool & Spa Expo in Las Vegas later this year and will no doubt be showcasing the new Autograph collection at the show. Make sure you stop by their booth and check out their incredible new line.
Listen to our entire interview with Christopher Anderson, CEO of Ledge Lounger
Pool News
Landslide Damages Homes, Destroys Swimming Pool in California
A landslide wreaked havoc in Sherman Oaks early Wednesday morning, causing millions in damage and virtually destroying one homeowner’s swimming pool. The catastrophe unfolded at around 3 a.m. following reports from residents in the 3700 block of North Ventura Canyon Avenue, who noticed downed power lines and a large tree fallen into a backyard, as detailed in a press release by the Los Angeles Fire Department.
Upon arrival, firefighters encountered a significant portion of the hillside had shifted downward, endangering at least three homes and inflicting heavy damage on another under construction. Video footage captured by OnScene.TV revealed a gaping crack splitting through the backyard of one residence, with a section of the home visibly tilting to one side.
While no injuries were reported, several individuals were evacuated from at least one home, with firefighters resorting to pumping water out of a swimming pool to alleviate additional strain on the hillside. Unfortunately, part of the pool and home ultimately collapsed down a 30-foot cliff destroying another residence that was still under construction.
Responding to the crisis, the Los Angeles Department of Building and Safety initially deemed one home unsafe, red-tagging the structure. However, their assessment later extended to two homes deemed unsafe and a third severely damaged, marked with a yellow tag. Ongoing drone surveys by firefighters aim to assess the extent of the damage and potential risks.
At present, the exact cause of the landslide remains undetermined, according to LAFD spokesperson Nicholas Prange. Requests for comment from the Los Angeles Department of Building and Safety went unanswered.
Authorities seized the opportunity to remind residents of the necessity for year-round emergency preparedness, emphasizing the looming threats posed by wildfires and heavy rainstorms capable of triggering landslides.
The unfortunate incident follows March’s heavy precipitation in Southern California, with Sherman Oaks experiencing 1.95 inches of rainfall over March 6th and 7th, as reported by the National Weather Service.
Manufacturer
BofA Downgrades Latham Group Citing Weak Pool Construction Market
Latham Group (NASDAQ: SWIM), a prominent player in residential swimming pool construction, faced a setback as Bank of America downgraded its stock due to concerns over sluggish new pool construction and increased decrementals.
With the downgrade, SWIM’s stock plummeted by 23.78% during pre-market trading on Wednesday, settling at $2.50, marking an 11% dip below its 200-day simple moving average.
Bank of America revised its recommendation on Latham Group stock to Underperform, slashing the price target from $4.50 to $2.60.
In its 2024 guidance announcement, SWIM projected revenues between $490M and $520M, falling short of the consensus estimate of $533.09M. Similarly, adjusted EBITDA guidance ranged from $60M to $70M, representing an 8% to 35% decrease compared to previous expectations.
The downgrade stems from a sluggish start to 2024, subdued projections for new pool construction, operational challenges leading to deleverage, and constrained free cash flow.
Management anticipates a 15% year-over-year decline in new pool construction for 2024.
These developments contrast with the optimistic sentiment among some sell-side analysts, who maintain a Buy rating on SWIM with an average price target of $3.54.
Scott Rajeski, President and CEO, stated, “Latham navigated a very difficult market environment in 2023. We successfully implemented cost reduction programs and lean manufacturing initiatives that structurally reduced our cost basis, while maintaining our investments in future growth. These cost reduction programs improved margins as the year progressed and we expect they will enable us to considerably expand margins and overall profitability once volumes recover. At the same time, we increased productivity and efficiency for our dealers, developed new fiberglass pool models, and invested in digital tools that have enhanced the consumer’s pool buying experience. As a result of these actions, Latham is positioned for meaningful market share gains as overall industry conditions improve.”
Pool News
Fluidra Launches €20 Million Venture Capital Fund – Fluidra Ventures
The company will invest €20 million in tech-based startups that offer emerging solutions that can enhance the pool and wellness sector.
Fluidra, a global leader in connected equipment and solutions for the pool and wellness sector, is launching Fluidra Ventures, a €20 million corporate venture capital fund (CVC) investment to lead innovation in the sector.
The CVC will invest in each startup with the potential to revolutionize the industry on a global scale through their solutions, with a special focus on the United States and Europe. The goal of this first three-year phase is to build a solid portfolio of startups through investing in innovative companies.
The CVC will target startup initiatives that enhance efficiency, connectivity, sustainability and safety in the swimming pool and wellness business, leveraging IoT, computer vision and robotic solutions. It is looking for startups that add value to the pool and wellness sector with innovative business models, fostering direct customer interaction through sales, subscriptions and other channels. The CVC has already invested in Coral Smart Pool, a technology company aiming to transform the pool experience through Artificial Intelligence (AI) with an initial focus on pool safety.
Fluidra Ventures will also invest in companies that innovate in engineering and science to advance materials and products that deal with swimming pool manufacturing, efficiency and maintenance.
Four segments and eight strategic guidelines
The fund is focused on four different segments — Commercial, Residential, Wellness and Mass Market—and has an investment thesis that covers eight strategic guidelines, from connected pools, resource optimization, digital platforms, innovative materials, security systems, personalized experiences, robotics and innovative consumable products.
Fluidra Ventures is fueled by Fluidra Lab, Fluidra’s open innovation division, and any startups that want to submit their proposals can send their investment pitch decks to [email protected]. Offering more than just investments, Fluidra aims to leverage this initiative to become the top strategic collaborator for the most innovative startups with the tremendous benefits that being an industry leader brings, such as: resources, scale successful business models, expertise, experience, and sales options.
“This initiative joins several others that we have at Fluidra to promote innovation in our industry. This is why here at Fluidra Ventures we’re excited about the transformative potential that this venture will have for the pool and wellness industry, driving forward innovation, sustainability and technological advancement”, said Eloi Planes, Fluidra’s Executive Chairman.
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