A look at latest happenings in the home decorating scene
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| CLEAN AND CHEERY Expect to see retail trends move towards ‘affordable luxury’, says Viggo Molhom (above), president and chief executive of Danish furnishing group BoConcept, whose key new pieces include a ‘cheeky’ rocking chair (next) |
AFTER the economic crisis, expect to see retail trends move towards ‘affordable luxury’, says Viggo Molhom, president and chief executive of Danish furnishing group BoConcept.
Of course, this observation fits neatly with BoConcept’s market positioning, he admits. But what with the retail scene taking such a knock during the economic meltdown – plus reports that tastes and expectations have changed as buyers expect discounts and prefer the ‘middle’ ground rather than the uber-luxurious – his statement rings true.
‘Pricing is much more important than it was before,’ he says. ‘Today’s consumer is still conscious of quality and style – but more focused on price.’ People who used to buy at the top end now prefer to spend less. ‘And we’re in a position to benefit from this shift,’ says Mr Molhom.
That’s good news for BoConcept and other retailers that pitch their products in the mid to upper-mid range.
Almost a year into the economic downturn – or ‘after’, as some quarters are touting – BoConcept is strengthening its market position. It has closed some stores – but has also opened new ones. ‘The Asian market is good for us – we’re expanding in China and opened our second store in Manila last year,’ says Mr Molhom. ‘We’re looking to open in Bangkok soon and starting the first in Mumbai in January.’ He was in Singapore this week to open the second store here. Continue reading
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