from: -- Home Textiles Today, 2/3/2009 3:02:00 PM
Struggling DWR appoints investment bank
San Francisco - Residential and contract home furnishings retailer Design Within Reach has retained investment bank Thomas Weisel Partners LLC (TWP) to review strategic alternatives, "including advice related to an unsolicited offer recently received by the company," said DWR.
?We have decided to evaluate alternatives that will best serve the interest of all of our shareholders given our depressed share price," stated DWR ceo Ray Brunner. "The board has appointed a committee of independent directors to work with TWP to allow our management team to focus on day-to-day operations."
"The company currently has no commitments or agreements with respect to any particular transaction," DWR noted.
Shares of the company have traded as high as $4.50 as recently as September ? but have not been above $1 since late November.
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It's nice as can be to be able to walk into a DWR store in my hometown and view beautiful things, but when it comes to buying, it would be difficult for me to not want to buy online at a store like Hivemodern, Retromodern, or Highbrow and save the tax and save the delivery charge. Unica Home, is also nice, but they somethings charge for shipping.
Say you're buying a $1500.00 chair from DWR. You'll pay local taxes (in Minnesota, $123.75) plus whatever they'd charge for delivery $50.00? $100.00?
If I bought the same chair from Hivemodern, I'd save up to $223.75, wouldn't I?
So, in my opinion, DWR needs to handle furniture that you can't easily get online. Wouldn't it be swell if DWR was the sole US dealer for Aalto's Artek furniture?
No
No, it would be swell if people actually paid attention to the financial mess we are in and did the things that helped the greater good rather than the things that help only their narrow self interests.
It is bald faced free-loading to waltz into a DWR showroom, waste their time, take advantage of their space, then spend your money online. I'm sure you have lots and lots of reasons that rationalize your decisions - but the fact is: Hive and Highbrow don't have showrooms. (which is probably why they can afford free shipping..duh)
Would anyone EVER buy something you couldn't try out? I find it highly doubtful. So - DWR is providing a service that others cant or wont. And when (and if) that service is gone you'll be stuck with Highbrow's god-awful customer service (I got zero help asking about wishbones) or Hive's draconian 3-day/return shipping/40% restocking fee return policy.
I was raised to believe that hard, honest work deserves fair compensation - I wouldn't want anyone to stiff me out of my pay, so why should I screw other people out of theirs?
The nice girl helped me out with my wishbone chairs, let me try them, gave me lots of information - and I paid her for her work. Anything else is just plain stealing.
I agree with Lucifer, great p...
I agree with Lucifer, great ponts. I don't know if its quite stealing, perhaps taking advantage. But yes a lot design retailers run on very small profit margins and if they are good its worth spending the extra money with them, especially if something goes wrong you can turn to a real person.
DWR has been in ...
DWR has been in financial trouble for a long time
.I have been to three of their stores in different cities and the sales help have always been helpful
I too enjoy looking at all the fine products that they sale.
It is kinda sad that they do have the highest retail mark up . giving 10 to 15 percent hardly qualifies with a real bargain and I know they must make a profit to stay in business,
I to agree with Lucifersum, on this one, if you window shop and take these peoples time, and go buy somewhere else I hardly think that is good karma, but..... the American way is we are always looking for a bargain, when you are a brick and mortar store, you have to do certain things that a Internet company is not subject to,
I have friends who own a nice store that sells all the cool modern furniture, and I know they hate it when
people come in kick the tires and go buy on the net, they are getting away of selling the modern classics in favor of other hard to find items, and let the customers go buy on line, and enjoy the customer service,
Right on, LuciferSum--
It's despicable to use a business like DWR as some sort of public amenity-- perusing their goods, wasting their salesmen's time-- only to turn around and buy online.
The online sellers enjoy increased business at DWR's expense, thanks to you.
You fully deserve the inevitable result-- when DWR is gone, may you enjoy making buying decisions based on a website photo and a few lines of text.
Breaking news DWR's most wanted person...
Please, I am only one person I wish not take all the credit.
I have caused so much destruction, the financial mess was my fault also. Seriously, people it is a showroom, where you have a CHOICE to purchase not obligated. But like I said you are entitled to your own opinion. I am just glad our DWR is not so uptight.
You all have valid and interesting points.
It's somewhat dishonest to use DWR as a gallery to view and decide what to buy elsewhere, but if DWR was on top of the competition and really went out of their way to carry pieces not available elsewhere, then those of us who know about those websites would be more likely to buy from DWR.
Right now, in the U.S.A., it's impossible (or next to impossible) to buy Aalto/Artek furniture, real Josef Hoffman Kubus furniture (from Whitmann), or some of the fine Italian lighting that's currently available...not to mention the Bitossi Blue pottery that's currently reissued in Italy. No U.S. distributors.
DWR would be smart to go after arranging with those companies to be U.S. dealers of these pieces. This would give them a lock on exclusivity, and people interested in them would have to deal with DWR.
So far, I bought that square Eames table from Hivemodern and a pair of Bertoia Knoll yellow seat pads from Highbrow. I bought both during the 10% annual sales, and both companies were easy to deal with and I had no issues. I had no issue of returning or restocking.
As you all know, I use these websites to compare prices on items I bid on and (occasionally) win on eBay. I have tried to save a few bucks, and have been very lucky to furnish my house with Paul McCobb, George Nelson, Eero Saarinen, Charles & Ray Eames and Alvar Aalto furniture.
It's all worked out quite well for me.
I wish DWR the best, but they're going have to do something about competing with the websites.
DWR have been in trouble for...
DWR have been in trouble for a while..... failing to file on time and some other crap... I like DWR. But if you have a brick and mortar place and you go there to buy they will place your order online to be delivered at the store or your place. After paying taxes and shipping. I don't go to DWR to shop around, I can rent a chair for a weekend from Luminare in coral gables and make sure it's what I want and that will look the best at home.... or I can buy a chair from Stan at highbrowfurniture, pay no taxes, no shipping and return is not a headache. They will send fedex to pick it up! you can beat that!
-joel
But you gotta agree that LuciferSum has a major point
If we wishfully windowshop that's one thing. Everybody does it and it's a way of life here in the US. Americans shop, but that doesn't always mean we buy.
BUT...If you go to DWR with the express purpose of trying out a piece you've decided to buy online AND then take up the time of the DWR salesperson, rather than just giving them a polite, 'Just checking it out, thanks', then you really are stealing DWR's time.
Can't think of any other way to see it.
Even if one DOES shoo away the salesman,
one would still be ethically bankrupt to walk into a DWR with the intention of later buying online.
If you won't buy something online, sight unseen, then you're acknowledging that DWR provides a valuable service. By going there only to test out the goods, you're looking to obtain their service for free.
Stopped in
So I stopped in and saw my friend at DWR on my lunchbreak to ask what's up. I usually pop in once a week or so to see whats new and chat about design geek stuff.
According to him DWR is not really in as much trouble as people think. In fact, according to him, the New England region did better this month comparable to last year. He said the press release is a neccessity: because DWR is not privately held they are required to investigate all offers on the company - something that is fairly commonplace amongst all publicly traded companies. (sadly he did not give me any further details about the deal)
I didnt have much time to talk but we did get on to the window shopping. He said he can always tell exactly when someone is going to buy online just by the questions they ask. (funny enough, he said the MOST frustrating are people who come to the showroom and then go home and order on the DWR website!) He and I had this discussion when I first started shopping there too- I asked him outright why I should buy through him instead of online. I was trying out a desk at the time (didnt end up buying it) but he asked me if I would ever have bought the desk without seeing it. I said no. He asked how much that experience was worth.
Which is why I don't get your argument Barry? DWR DOES offer something to compete with the websites! It is a simple equation: DWR put up brick and mortar stores, which creates a lot of overhead (and cancels out free shipping) - but offers people a unique experience of SEEING and TRYING things. Show me a website that can do that!
SMGSwank - I'm not saying you are required to buy every time you go in, but if your intent is to buy something elsewhere it is a little fraudulent to go in there and 'browse' first - especially since the retail price is invariably the same as any online vendor. It's not about elitism, it's about recognizing and valuing good old fashioned customer service.
(and, actually, the retail for my Wishbones was 15% LOWER in person than online shops - Hive and Stardust included. Highbrow was incapable of answering a simple question about soap-finish, despite a dozen emails)
I know DWR has complaints - I was treated like a non-person in a New York store once - but I've had all good experiences locally, and have become a loyal customer. Good shopping experiences are dying things, but it makes a huge difference when/where I purchase. Money is just money, after all - you can get it anywhere. Good service is a little bit scarcer these days.
maybe we are all wrong?? ...
maybe we are all wrong?? maybe kicking tires from DWR is what they really want, just the fact that they get people in the store to look around means they are doing some business, they know so many people come in look and then go some where else as that is the nature of the business, buying Herman Miller furniture is not easy.
I have a account cause i am a vendor of their products, but the average person has somewhat of a problem going to a authorized Herman Miller store to buy a lounge chair and want or get a a deep discount.
We all seem to be computer savvy but many people do not want to buy online for fear that a problem will arise, you can praise hive, and others but if the goods come broken someone has to make it right, and that is what the deal is with DWR, they are in your city , to see that your goods arrive as they are responsible,
They serve a purpose, and they will not go out of business, cause you wont't buy from them cause someone else will, although i know they would love your business.
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