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I have a dream (actually 5 dreams) for our industry

Jerry Epperson -- Furniture Today, March 12, 2006

The recent passing of Dr. Martin Luther King's wife, Coretta, reminded me of his vision of how America could be better. I have a dream or two for the furniture industry.

First, I would love to have an industry spokesperson who accurately and consistently could communicate the exciting trends in our industry to America. This would require a devotion to the industry, lots of homework and an on-camera presence we all could be proud of. Yes, we have lots of wonderful individuals who know how to decorate beautifully, but who has decades of experience and has studied industry trends in all the key categories?

I suggest Ellen Gefen is singularly qualified to become that spokesperson. Wouldn't it be great to have Ellen on the major media after major markets with what is exciting and new? She could use her Home Fashion Report archives to offer historical perspective. This could do wonders for our entire industry, and she could do such a great job.

Second, I would like to see our industry get greater recognition for the new technologies that are giving consumers greater value and more comfort. Whether its new categories like the "health" chairs offered by Interactive Health, Panasonic and others, or the almost daily improvements in our bedding, we fail to get recognition for the many benefits we bring to consumers. What if the medical community prescribed sophisticated bedding or seating for patients? It would reflect positively on other furniture as well.

Third, City Furniture's Keith Koenig has proposed a very interesting idea: have an incremental amount added to home mortgages to finance furnishings. Can you imagine the impact it could have if, say, 10% were added at today's great interest rates to fully decorate a home? There would be a lot fewer empty rooms. Those with a $400,000 mortgage would have $40,000 to spend on furniture, appliances, floor coverings and other improvements. We would all benefit.

Fourth, what if we developed a common, national system of state-of-the-art distribution centers and home delivery programs? That could greatly cut costs and remove redundancies. Yes, we all compete, but everyone needs to deliver delicate goods efficiently to consumers' homes.

Finally, I want a national holiday honoring the American home. If florists and jewelers can have holidays, why not us?

Maybe we all could discuss these ideas.

Author Information

W.W. "Jerry" Epperson is a managing director of Mann, Armistead & Epperson, 119 Shockoe Slip, Richmond, Va., an investment banking and research company that specializes in the furnishings sector. The company is affiliated with Ferris, Baker Watts, a full-service brokerage headquartered in Washington.

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I have a dream (actually 5 dreams) for our industry

Mar 13, 2006

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