Whither the Wicker at Pier 1 Imports?
Rattan papasan chairs may go by the wayside.
(Pier 1 Imports)
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Friday, December 16, 2005
Yesterday's eye-popping business news came from the world of home decor. During an earnings call, Pier 1 Imports Inc. executives hinted the chain may be abandoning its very soul: wicker and rattan.
Granted, it was a creaky, splintery, dust-catching, butt-imprinting soul, but it was a soul, nonetheless.
Chairman Marvin J. Girouard told analysts: "We don't intend to become Scandinavian or IKEA-driven, but I think if you look at Pottery Barn and you look at Crate & Barrel, and you look at the European influence, I think that is where we will be headed."
And so are we. We have become Euro-sleek and light-wood minimalist. Life is now assembled by Allen wrench, not woven together by hand. Shellac that peels off like dead skin is so out.
Pier 1 tried to make wicker hipper by hiring "Queer Eye" guy Thom Filicia as a pitchman -- who you just know wished he was in a Design Within Reach ad instead -- but he lasted only a few months. Even a big stock buy by billionaire investor (and Washington Post Co. director) Warren E. Buffett last year fueled only a brief share-price rally.
Ironically, Pier 1 became trapped by what all businesses crave: brand identity. I say "Pier 1," you say "wicker." Flip through a Pier 1 catalogue today and you won't see as much wicker as you used to. Unfortunately for Pier 1 executives, though, the image has stuck, like a pair of sweaty thighs to a rattan fan chair.
