Apparel designers eye home industry
Carole Sloan, Senior Contributing Editor -- Furniture Today, May 7, 2007
There's a move afoot that will have an impact on our industry. Much as hotels have been putting their brand names on mattresses, sheets, furniture and tableware, there are now indications that home is becoming the target du jour for luxury designer brands in apparel.
These apparel brands are looking to take their high-profile names and businesses from apparel into fragrances, airplane interiors and now hotels. All of this is called expansion of lifestyles. And all along we in furnitureland thought that lifestyle meant a look or mood in furniture design!
As these designers extend their lifestyle brands into luxury hotels, they are likely to offer serious competition to furniture folks who now are involved in or planning to pursue the hotel segment of the furnishings business.
We're looking at the likes of such designer companies as Missoni, Versace and Fendi — all of whom already are involved in the home furnishings product world — as well as other apparel headliners like Moschino and Etro coming up right behind them.
With all of this high-powered, high-budget, high-profile competition, prospective furniture players have another significant challenge to deal with.
Now, a word to all you suppliers of Target Corp. who have jousted through reverse auctions, chargebacks, store-opening discounts and other creative business techniques.
You'll be glad to know that Bob Ulrich, chairman and CEO of the hip discount department store, ranks No. 4 in big-company pension payout plans, according to a recent Wall Street Journal survey of proxies filed through April 19. He's built up a grand total of $134.8 million for his retirement.
Not bad for a former merchant in home at the late Dayton's Department Stores, Target's predecessor.
