Tandy Leather Factory, Inc., together with its subsidiaries, operates as a retailer of leather and leathercraft-related items in North America and Spain. It offers leather, hand tools, hardware, kits, liquids, teaching materials, open workbenches, machinery, and related accessories and supplies. The company also manufactures leather laces, cut leather pieces, do-it-yourself kits, thread laces, belt strips and straps, and Craftaids. In addition, it offers production services, including cutting, splitting, and assembly services to business customers. The company sells its products under the Tandy Leather, Eco-Flo, Craftool, CraftoolPro, Dr. Jackson's, and TandyPro brand names through company-owned stores; and orders generated from its websites, such as tandyleather.com, tandyleather.ca, tandyleather.eu, and tandyleather.com.au. It operates 106 retail stores, including 95 stores in the United States; ten stores in Canada; and one store in Spain. The company was formerly known as The Leather Factory, Inc. and changed its name to Tandy Leather Factory, Inc. in 2005. Tandy Leather Factory, Inc. was founded in 1919 and is headquartered in Fort Worth, Texas.
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Analogy 1: The Michaels of leathercraft.
Analogy 2: The Games Workshop of leathercraft.
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Leather: Offers a wide selection of leather hides, skins, and pre-cut pieces for various crafting needs.
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Leathercraft Tools: Provides a comprehensive range of hand tools, machines, and accessories essential for working with leather.
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Leathercraft Kits: Sells beginner and advanced kits containing materials and instructions to create specific leather items.
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Hardware & Findings: Supplies a variety of buckles, snaps, rivets, and decorative elements to embellish leather projects.
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Dyes, Finishes & Adhesives: Offers coloring agents, protective coatings, and bonding solutions for leather treatments and assembly.
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Patterns & Books: Provides instructional patterns, books, and guides for designing and executing leathercraft projects.
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Tandy Leather Factory (TLF) Major Customers
Tandy Leather Factory (symbol: TLF) primarily sells to individuals, small businesses, and educational institutions rather than large corporate entities. While they offer wholesale pricing, their business model is centered on providing supplies directly to the end-user – crafters and artisans. Therefore, the company primarily sells to individuals and individual-led entities.
The up to three categories of customers that Tandy Leather Factory serves are:
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Hobbyists and DIY Enthusiasts: This category includes individuals who engage in leather crafting as a leisure activity, for personal use, or as a creative outlet. They range from beginners exploring a new craft to experienced hobbyists working on various personal projects like wallets, belts, bags, or decorative items.
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Professional Artisans and Small Businesses: Many individual artisans and small, independent businesses that create and sell handmade leather goods rely on Tandy Leather for their raw materials, tools, and supplies. These customers often operate through online platforms (like Etsy), local craft fairs, or custom order channels, producing unique leather products for sale.
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Educational Institutions and Group Programs: Schools, scout troops, youth organizations, community centers, and summer camps frequently purchase leathercraft supplies and kits from Tandy Leather for educational workshops, group activities, and vocational training programs. These purchases facilitate hands-on learning and creative projects for participants.
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The management team members of Tandy Leather Factory (TLF) are as follows:
Johan Hedberg, Chief Executive Officer
Johan Hedberg assumed the role of Chief Executive Officer and a member of the Board of Directors on January 6, 2025. He brings over 30 years of wholesale and retail leadership experience to Tandy Leather Factory. Prior to joining TLF, Mr. Hedberg served as the Chief Sales Officer and President, Americas, at Fiskars Group. Before his tenure at Fiskars, he was the Vice President of Sales and Marketing at Thule Group.
Tina Castillo, Chief Financial Officer
Tina Castillo serves as the Chief Financial Officer of Tandy Leather Factory, Inc. She was promoted to Chief Financial Officer and Treasurer in February 2017, having served as the company's Controller since February 2016. Ms. Castillo has over twenty years of experience in senior financial leadership roles. Her previous experience includes serving as Chief Financial Officer and Treasurer of Union Drilling, Inc. from June 2009 to March 2013, and as its Senior Vice President since March 2011. She was also the Principal Accounting Officer of Union Drilling, Inc. from December 2009. Earlier in her career, Ms. Castillo spent 15 years at Ernst & Young as a Senior Manager, where she focused on the minerals, manufacturing, and high-tech industries. She holds a Bachelor in Business Administration and a Master's in Professional Accounting from the University of Texas and has been a Certified Public Accountant since 2005.
Mark J. Angus, President
Mark J. Angus has been the President of Tandy Leather Factory, Inc. since June 7, 2016, and previously served as Interim President from February to June 2016. He has a long history with the company, having joined in 1985. In his role, Mr. Angus is responsible for product research and development, including intellectual property defense and product costing. He also manages product imports from Asia, oversees manufacturing operations, and is involved in product placement and sales to major manufacturers and distributors. Prior to his presidency, he held roles such as Senior Vice President since June 2008 and operational Vice President with various responsibilities since June 1993. Mr. Angus has also been an Inside Director of Tandy Leather Factory, Inc. since 2009.
Daniel Ross, General Counsel
Daniel Ross serves as the General Counsel (GC) for Tandy Leather Factory. He has over thirty-five years of experience practicing law, with an emphasis on business and real estate law, including acquisitions, commercial leasing, and contract negotiation. Mr. Ross is an honors graduate of Dartmouth College and earned his law degree from New York University. He has also written and taught on various legal subjects, corporate governance, psychology, and civil liberties, and is an investor in real estate.
Leann Day, Vice President of Human Resources
Leann Day is the Vice President of Human Resources at Tandy Leather Factory, Inc., a position she has held since November 2018. With over 15 years of experience in human resources, Ms. Day has worked in both corporate and start-up environments. She specializes in innovative HR strategies that focus on enhancing employee engagement and cultivating a positive workplace culture. Her experience includes leading HR initiatives for global Fortune 500 companies and mid-sized firms. Before joining Tandy Leather Factory, she was the Vice President of Human Resources at The RoomPlace from April 2015 to January 2018. Ms. Day is noted for establishing the Tandy Leather Employee Foundation, a 501(c)(3) organization that provides financial assistance to employees in need. She holds a Bachelor of Business Administration from Stephen F. Austin State University and has been certified as an SPHR and SHRM-SCP professional since 2009.
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The key risks to Tandy Leather Factory (TLF) are:
- Material Weaknesses in Internal Control Over Financial Reporting: Tandy Leather Factory has identified and is in the process of remediating material weaknesses in its internal control over financial reporting as of December 31, 2022, and in prior periods. These weaknesses have led to restatements of financial statements and delayed filings with the SEC. Unremedied material weaknesses could adversely affect the company's business, reputation, financial condition, stock price, and limit its ability to access capital markets.
- Competition and Adverse Economic Conditions: The company faces significant competition from e-commerce and online marketplaces, such as Amazon and Etsy, which continue to compete for market share. Additionally, changes in general economic conditions and negative trends in consumer spending levels pose risks to the business. The leather crafting business is a niche market, and the company can be easily affected by inflation and rising labor costs, which impact fixed costs and selling, general, and administrative (SG&A) expenses.
- Supply Chain Dependence and Raw Material Price Volatility: Tandy Leather Factory relies on a concentrated group of suppliers, with its 10 largest suppliers accounting for approximately 55% of inventory purchases in 2024, and one supplier representing about 12% of total purchases. The availability and price of hides and leathers, which are sold internationally, are subject to fluctuations based on global market conditions. This dependence and price volatility can impact the company's cost of goods and profitability.
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Tandy Leather Factory (TLF) operates within the broader leather goods and arts and crafts markets, offering products such as leather, leatherworking tools, buckles, adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits.
Addressable Market Sizes:
- Global Leather Goods Market: The global leather goods market size was valued at approximately $498.57 billion in 2024 and is projected to grow to $855.36 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.05%. Another estimate places the global leather goods market size at $498.81 billion in 2025, forecasted to reach around $831.38 billion by 2034.
- U.S. Leather Goods Market: The U.S. leather goods market size was estimated at $123.37 billion in 2024 and is predicted to be worth approximately $229.90 billion by 2034. Another report valued the U.S. leather goods market at $109.06 billion in 2024, projected to reach $193.21 billion by 2033.
- North America Leather Goods Market: The North America leather goods market size surpassed $178.99 billion in 2024.
- Global Arts and Crafts Market: The global arts and crafts market size was valued at $44.47 billion in 2024 and is expected to grow to $62.61 billion in 2029. Another report states the global arts and crafts market size was valued at $43.4 billion in 2023 and is projected to reach $79.2 billion by 2030.
- U.S. Handicrafts Market: The U.S. handicrafts market generated $155.3 billion in 2023 and is expected to reach $199.5 billion by 2030.
- Global Crafts and Hobby Goods Market: This market was $46.5 billion in 2024 and is expected to reach $78.4 billion by 2033.
- U.S. Hobby Business Market: The U.S. hobby business market is projected to reach $64 billion by 2025.
- Online Hobby & Craft Supplies Sales in the U.S.: This market is projected to hit $22.6 billion by 2025.
- Global Art & Craft Tools Market: The global art & craft tools market size is projected to grow from $3.96 billion in 2025 to $6.39 billion by 2032.
- North America Art & Craft Tools Market: This market was valued at $1.34 billion in 2024.
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Tandy Leather Factory (TLF) is expected to focus on several key areas to drive future revenue growth over the next 2-3 years, despite a recent history of flat to slightly declining revenues and challenging market conditions.
Here are 3-5 expected drivers of future revenue growth:
- Leveraging Brand and Retail Presence: Tandy Leather Factory continues to emphasize its strong brand and established retail presence as a foundation for navigating market challenges and fostering future growth. The company operates over 100 stores across the U.S. and Canada, and one in Spain, distributing a broad product line of leather and leathercraft supplies.
- Enhanced Retail Footprint and Operational Efficiency: The company is investing in necessary upgrades and relocations to improve its retail footprint and operational efficiency. The successful completion of the corporate headquarters and distribution center move in the third quarter of 2025 is anticipated to lead to smoother operations. Despite temporary disruptions during the relocation, retail store sales in Q3 2025 were ahead of the prior year's performance.
- Recovery and Growth in Online Sales: The recent relocation of the headquarters and distribution center caused temporary disruptions that limited online shipments during Q3 2025. With the move now complete, a return to normal online order fulfillment and potential strategic initiatives in the e-commerce channel could drive revenue growth from online sales.
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Share Repurchases
- Tandy Leather Factory authorized a program on August 10, 2020, to repurchase up to $5 million of its common stock by July 31, 2022.
- In February 2021, the company repurchased 500,000 shares of common stock for $1.7 million in a private transaction.
- On June 17, 2025, Tandy Leather Factory agreed to repurchase 430,897 shares of its common stock from a former executive for approximately $1.3 million, expected to close by June 30, 2025, reducing outstanding stock by about 5.1%.
Share Issuance
- Information regarding significant dollar amounts of shares issued was not explicitly detailed in the provided search results for the specified period.
Inbound Investments
- No significant inbound investments made in the company by third-parties were identified in the provided search results.
Outbound Investments
- No instances of the company making strategic investments in other companies were identified in the provided search results.
Capital Expenditures
- Tandy Leather Factory announced the sale of its corporate headquarters, including its primary distribution center and flagship retail store, for $26.5 million in December 2024, with the transaction expected to close in January 2025. The company plans to lease back the facilities until approximately September 2025 while seeking new locations.
- The company completed a major real estate transition during the third quarter of 2025, which involved the sale of its former headquarters and a move to new facilities.
- Potential uses of the proceeds from the headquarters sale include investing in new stores, products, and marketing to generate additional revenue and earnings.
