Leggett & Platt: A Journey from Regional to Fortune 500

737 Words2 Pages

J.P. Leggett and C.B. Platt a local entrepreneur from Carthage Missouri started a business partnership in 1883. Leggett was an inventor and Platt was an expert on establishing a manufacturing setup and both patented in 1885 a spiral steel coal beds (Leggett & Platt®,2011). In 1942, Leggett & Platt opens a plant in Kentucky. Harry M. Cornell Jr. became President and started an expansion effort in 1960 and in 1970 Leggett & Platt partners with Armco Steel Corp to construct a wire mill in Carthage. In 1999, the company net earnings reached to 290.5 million by May 2002 Leggett & Platt had evolve from a small regional company into an international Fortune 500 company and establish a contract with Sears (Leggett & Platt®,2011). Roebuck and Co. …show more content…

The company breaks each product into four main product segments. These product segments are: Residential Furnishings, Commercial Products, Industrial Material, and Specialized Products. Each one of these product segments are a key in Leggett And Platt 's current and future success.
Residential Furnishings are a wide rang of products and components for the home (Leggett & Platt®,2011). Some of these products include mattress springs, pocketed coils, power foundations, bed frames, ornamental beds, bedding, accessories, carpet cushions. (Leggett & Platt®, 2011).
The next segment is Commercial Product 's, which is suits of retail store fixtures and point-of-purchase displays for major retailers and specialty shops (Leggett & Platt®, 2011). So really what Leggett and Platt is producing in this segment is displays for other retail stores to use in their store. They do this because it dresses up the product they are trying to sell, if a customer walks into a store with only mattresses on the ground then they might not want to buy it. But if a customer walks into a store with a mattress in a display with a dresser and frame around it then they might be more interested in buying the mattress product. Some of these Commercial Products categories include: gondola and shelving, in-store displays, seat mechanisms and controls, furniture bases, …show more content…

These products can be found in many of the worlds markets. They use titanium, nickel, and stainless steel tubing in many of these Specialized Products. Some of these Specialized Products include: L&P Automotive Group, Paris Spring, Western Pneumatic Tubes, Specitubes, Global Systems Group, and Vertex Fasteners (Leggett & Platt®, 2011).
Leggett & Platt®, Incorporated. (2011). Retrieved November 19, 2015, from http://leggett.com/
Sills, M. (2015, November 18). Leggett &Platt [Personal interview]..
Coen, R. (2015, November 18). Leggett &Platt [Personal interview].
Swarnes, J. (2015, November 18). [Personal interview].
Wells, T. (2015, November 18). Leggett &Platt [Personal interview].
"Leggett & Platt, Inc. History." History of Leggett & Platt, Inc. – FundingUniverse. Web. 29 Nov. 2015.
Leggett Platt Financial Annual Report 2014. (2015). Retrieved November 29 2015, from http://www.leggett-search.com/annual-report.com
NASDAQ’s Homepage for Retail Investors. (n.d.). Retrieved November 29, 2015, from

Open Document