Mitchell Gold + Bob Williams is Bankrupt and Banana Republic is Making Moves

Letter #1, let's do it.

Welcome to These Walls Talk!

It’s funny because I am essentially talking to myself right as I write this. Readers,

If you’re here, I appreciate it. If you have thoughts on anything I’ve written or the topics themselves, don’t be shy! My inbox is always open. Now on with the show-

Mitchell Gold & Bob Williams Declares Bankruptcy

Mitchell Gold + Bob Williams filed for Chapter 11 bankruptcy in August, after it ceased operations of its retail locations and manufacturing facilities. The filing lists between 200 and 300 creditors, including Kravet; Moore & Giles; and 3D visualization firm Cylindo. The document states that MG+BW has between $10 and $50 million in assets on hand and it is said to owe between $10 and 50 million (convenient!). And  $6.5 million worth of merchandise is stuck at third-party facilities awaiting delivery, as well as another $17 million at its own facilities (Jesus). The filings state that the company ceased taking deposits at all its retail locations and online on the morning of August 25, following PNC’s decision to deny further funding. Mitchell Gold + Bob Williams has been owned since 2015 by the Stephens Group, a family-run equity firm with a portfolio that includes mostly tech and industrial holdings.

This news is sad but not shocking. MG + BW, a company known for quality, American-made, upscale home furnishings that falls somewhere between the beige comfort of Pottery Barn and luxury allure of Restoration Hardware- and for those who don’t know, the company started out as a purveyor to both of these companies before opening their own retail fronts; they still use the same production facilities- has always been more of a reliable option for those in the design trade rather than household name (pun intended) for consumers. It’s possible some motivated investor could swoop in to save the day, or the business will go into liquidation. Idk. I think it’s a hard sell. 

Sustainability in Practice 

I really enjoyed this article by Warren Shoulberg about New York Textile Week. Particularly the obsession with sustainability, which is often more of a buzzword than a practice in all industries. At New York Textile Week various showrooms emphasized moving away from production facilities in China into Turkey, Portugal etc. There is currently a ban on Chinese cotton and various tariffs on their textile goods, but at the end of the day China is still the largest supplier. Last week, the American Circular Textiles Coalition (ACT) a coalition of circularity focused companies, submitted public comments to the Biden Administration “emphasizing the need to include textile circularity as a tenant of the Sustainable Products and Services Procurement rule”, which is meant to update existing purchasing standards and prioritize the purchase of sustainably made goods specifically from US companies. 

Banana Republic Rounds Out Their Home Line & Launches a Store Front

Throwing their launch party during New York Fashion Week with a star studded guest list was certainly a choice, one that’s been tried and true in luxury home mogul Gary Friedan’s playbook. Banana Republic, part of the Gap Inc. (NYSE: GPS) portfolio, was once a fashion brand known for their classic, sophisticated ready-to-wear styles. It is now a full lifestyle brand catering to, as CEO Sandra Stangle puts it “the modern explorer”. I don’t know what that means. From browsing the website it looks like they’re going for shoppers that want an elevated look at a moderate luxury price point- coffee tables range from $550-2500, you can get a bedding set for $190, a floor lamp for $1350, and a hand woven Moroccan rug for $4295. I can’t say the branding is that strong as the aesthetics of their photoshoots, lookbooks, and website are a direct knockoff of Restoration Hardware. This isn’t entirely unsurprising, but a huge drawback that goes beyond brand awareness is everything looks visibly… cheaper than the original. I haven’t seen any of it in person so I can’t say for sure, but the colors and textures look really off and official reviews so far suspiciously sound like sponcon. If you’d like to know my initial thoughts, I’ll just leave this photo here.

Workers Who Cut Countertops are Dying of an Incurable Disease

This excellent and disturbing Los Angeles Times article by Emily Aplpert Reyes & Cindy Carcamo covers the devastating effects of our cheapest countertop options. Countertops made of engineered stone- which have a significantly higher concentrations of silica than most natural stone- have driven a new epidemic of silicosis amongst workers. This disease is fatale and currently has no cure. “Instead of cropping up in people in their 60s or 70s after decades of exposure, it is now affecting men in their 20s, 30s, or 40s” says Dr. Jane Fazio. Most places like the state of California have safety standards in place, but while officials like The Agglomerated Stone Manufacturers Assn. say that is enough to avoid health risks, those suing manufacturers of engineered stone (think big names like Cambria marble and Caesarstone) argue that typical restrictions don’t go far enough. A recent study by UCLA & UCSF physicians found that nearly a fifth of California stone workers with the disease have died- the median death age being 46. Ralph Metzger, a Long Beach attorney, argues that engineered stone is “too dangerous to be used safely. If there’s any industrial product that should be banned, this is the product.” Currently, engineered stone is estimated to represent more than 60% of materials used for countertops.  

Boucle is over

According to this Curbed article. Resale sites like Craigslist, Facebook Marketplace, and AptDeco have seen a major uptick in sellers wanting to part with pieces upholstered in the nubby fabric. Honestly? Good riddance. Boucle notably rose in popularity after Gwyneth Paltrow’s 2018 collaboration with CB2 included a boucle swivel chair. The fabric itself, traditionally made out of wool, is itchy, prone to staining, and ultimately more suitable for chic interventions in a Malibu sitting room than, say, a college dorm room or a family room sectional. That said, the shortening of trend cycles in interior decor and the waste it produces makes me uneasy. Hopefully the next “it” piece in design trends has more potential for longevity.  

Ikea Tried Removing Their Signature Maze and it Was a Flop

Ikea recently tested new urban locations without their trademark maze layout. The decision was made after a new concept was designed to cater to casual shoppers who are more likely to pop in on their way to work rather than spend a Sunday running errands and eating meatballs- but the casual shoppers said ‘no thanks’.  “Customer interviews and feedback surveys found that many shoppers craved the guiding hand of store design, said Tolga Öncü, head of retail at Ingka Group, which operates the majority of IKEA’s stores.”  I messaged my architect friend Kelsey about this one and she wasn’t surprised. 

“The maze design is Ikea’s marketing strategy by architecture because this maze design is the same anywhere in the world and that creates the feeling of familiarity for humans- we as humans crave that feeling, especially if we’re living outside of our home country or city”. 

Additionally, shoppers tend to buy more when they are shown more! So why mess with a good thing? The experimental urban locations are being redesigned in line with the traditional model.

That’s the first letter! Ciao xx