Interior designers and shops alike are seeing a trend where clients choose to mix and match high- and low-end pieces, reports FELDA CHAY
THE economic downturn has hit home – with high-end furniture shops and interior designers saying that demand for upmarket furniture pieces has taken a dive. ‘Under the present economic circumstances, it would be disingenuous to state that for the current year our sales have not been affected,’ says Eileen Tan, senior marketing executive at SPACE. Revenue has dipped by a ‘low double-digit figure’ so far this year, she says.
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| Luxurious: This belt-tightening, however, does not mean that furniture buyers are willing to furnish their homes with less stylish-looking pieces. Instead, they have sought to acquire replicas of the originals, which industry insiders say can be two to five times cheaper than the original |
Her views are echoed by Samuel Leong, director of interior design firm Free Space Intent Pte Ltd. ‘Demand has definitely dropped for these high value products as people get more cautious about buying designer furniture,’ says Mr Leong. This belt-tightening, however, does not mean that furniture buyers are willing to furnish their homes with less stylish-looking pieces.
Instead, they have sought to acquire replicas of the originals, which industry insiders say can cost just half or even a fifth of the original. Some of these come from licensed manufacturers such as Vitra, Carl Hansen and Herman Miller. Others are fakes that come from unlicensed manufacturers trying to make a quick buck from home owners who love the design of a piece of furniture, but are unwilling to pay for the original and deem the licensed products too heavy for the pocket. Most of these are made in China.
Given the costs involved in purchasing an original, such a situation is inevitable, says Ms Tan. ‘Including design development royalties and the use of better quality eco-friendly materials, it ends up costing more than replicas, which saves substantially on all these aspects,’ she says.
She separates customers who buy replicas into two groups, one of which she calls the ‘aspirationals’, and the other the group that purchases replicas for the ‘look-alike’ aspect. The ‘aspirationals’, Ms Tan says, are a group that appreciates the design of the piece they buy, and the purchase decision for copies is merely an interim solution for them to own the design before they can purchase the original. Continue reading
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