Waterford Wedgewood files for bankruptcy

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Rhonda

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Nov 1, 2002
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I found this kind of funny when I heard it on the news last night because on the Martha show yesterday, she was at the factory in England touting her new line with Waterford/Wedgewood.
Oh well....too bad, maybe she can take it over??
 
I am surprised they lasted this long. I came from the China and Housewares industry to this business and the china companies were dying in the 90's. New brides are going for more contemporary things. I am not even sure there is a chinaware company that is still producing their wares in the UK. It is sad....but now all of us with bone china will have to save it as it will be a collectors item some day. Sad.
 
Waterford's downfall began back in the late '80's... we used to sell probably $75K a year at wholesale... but they too became greedy, and instead of sticking with specialty retailers went to the big boxes, with a cheaper line. Instead of cutting all their stems in Ireland, they farmed the labor out to Japan...quality suffered.

We used to stock 100+ patterns of china/dinnerware... up until the companies began to open "company stores" in outlet malls to sell "seconds", which after a time became "firsts" and at prices below wholesale...needless to say, once the company stores opened about 1/2 hour from me, we stopped dealing with them.

They brought this on themselves.
 
A group of us were discussing "collectibles" the other day..We all came from an era that knew Lenox, Wedgewood, Hummel, Waterford, Rosenthal, Spode, and even Fitz and Floyd. What do young people collect now...My kids don't want "clutter" and have no interest in anything that is really long lasting except the things they remember from me using when they were kids.
If you had to pick out a company to make a container for you... a saleable item with flowers for the younger generation..who would that be?
Sher
 
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A group of us were discussing "collectibles" the other day..We all came from an era that knew Lenox, Wedgewood, Hummel, Waterford, Rosenthal, Spode, and even Fitz and Floyd. What do young people collect now...My kids don't want "clutter" and have no interest in anything that is really long lasting except the things they remember from me using when they were kids.
If you had to pick out a company to make a container for you... a saleable item with flowers for the younger generation..who would that be?
Sher

I had this conversation with a local furniture store owner about a year ago.

They used to sell very nice paintings, but the market shifted to cheap prints.

Why? because today's home decor buyer wants to change out every 5 years or so.

Back to china, I still have a fine china in boxes. they have been in those boxes for 20 years.

we also have a full set of Waterford crystal, water, wine, champaign glasses and we haven't used them in over 15 years.

joe
 
If you had to pick out a company to make a container for you... a saleable item with flowers for the younger generation..who would that be?
Sher

That is a really really great question.

I don't have the answer, but it is a great question.

This generation does not want "what everyone else has". They don't care about crystal and china and flatware. They want very individualized choices. They want a custom look.

Think of this, they have sirius radio, listening to what they want, they have ipod/mp3, custom playlist to fit their mood. They like etsy, with custom jewelry and purses and one of a kind art. They have tattoos...doesn't get much more custom than that.

As florists, we have the ability to make it happen for them, we do custom work, custom designs. They need to know it.

As florists, we "do" custom.

Waterford is just not valued by them, for the most part. Its what everyone else has, it does not state who they are and what they are about. They are not interested. They can't identify with them.

Waterford can't just do "business as usual".

As an industry, neither can we.

Gosh, I am feeling deep this morning...and no coffee yet!
 
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Great link, boss!

I read the comments, too, and I am cracking up.

Hmmmmmm.....
 
A group of us were discussing "collectibles" the other day..We all came from an era that knew Lenox, Wedgewood, Hummel, Waterford, Rosenthal, Spode, and even Fitz and Floyd.
Lenox Group (which also owns Deparment 56, Dansk and Gorham) filed for bankruptcy in November so it does appear to be an 'across the category' issue.

All those brands stood for quality and limited editions. IMO 4 elements changed the collectible world:

1. China (the country, not the material). Knock offs and overproduction made each of the premium brands less special.

2. eBay. Buyers held a belief that the limited editions would appreciate over time. (Think Antique Road Show.) But, live auctions online quickly proved that the values were often over-inflated.

3. Costco. When premium brands started showing up on the shelves of Costco & Sam's Club at deeply discounted prices, the uniqueness/coolness factor was slipping away.

4. Lifestyle. Formal living rooms and dining rooms are shrinking or disappearing entirely in newer homes. In their place are 'entertainment' areas with open kitchen/dining/family rooms for casual, comfortable gatherings. In general, we're less formal. You can see that in attire, too as suites and ties gave way to "business casual".

Back to china, I still have a fine china in boxes. they have been in those boxes for 20 years.
I haul ours out for special occasions, but it takes extra effort. None of it really should go through the dishwasher so the added clean-up time makes me think twice - but it sure is pretty. :)

This generation does not want "what everyone else has". They don't care about crystal and china and flatware. They want very individualized choices. They want a custom look.
Maybe. Could part of the equation also be that parents have had more disposable income to continuously indulge kids with 'new'.

<dinosour mode>Way back when, most kids had 2 or 3 pairs of shoes - a couple for 'everyday' and a set of 'good shoes' for church. Many shoes cost more in the '70s & '80s than they do now so we all had to take good care of them or bear the wrath of our parents.

Enter third-world manufacturing and international distribution and today you can run over to Payless and fill a closet for $100. Who cares if they're ruined on the first wear? They're cheap and considered 'disposable' by the standards for 30 or 40 years ago.

Explode that shoe analogy to many things we buy today. For a lot of kids, their live has been filled with 'disposable' or 'easily replaceable' so the notion of 'collectible' is far off the radar screen.</dinosaur mode>

With declining incomes, it will be interesting to see if kids gain a bit more appreciation for the "things" in their lives.
 
Yep, you guys got that right!!

I'm 37, got married in 2002, My in laws gave us a set of flat wear. Haven't used it once.

This Spring I have decided to purge all unnecessary clutter form my life and home,
except my barbies.....

I'm just tired of stuff!

THAT is why FLOWERS are such a great gift!!!! They Expire!!!

For my generation and younger, that's the story! I think I'm really fortunate to work with a lot of women under the age of 30. Me, My mom and Amy are the oldest in the store. It's so interesting what these girls think is great/cool/valuable and what they don't.

I would love to do a focus group with people aged between 22-30 just to get a groups perspective on what they like.
 
If you had to pick out a company to make a container for you... a saleable item with flowers for the younger generation..who would that be?
Sher
Not spode, lenox or anyone else mentioned so far in this thread. Betsey Johnson, Dolce & Gabannah, Louis Vuitton, Manolo Bahlanik ....I know I butchered spelling on all of these :tongue: I would look to the fashion world. The dilemma is that they don't want stuff that doesn't serve a purpose every day. Also, are you looking for them to purchase for themselves / friends, or as gifts for their parents?

THAT is why FLOWERS are such a great gift!!!! They Expire!!!
I tell my customers that allll the time. After the weird look on their face, and my explanation that they don't have to be dusted, don't have to be brought out on special occasions, always fit and never lead to weight gain, they agree. :)
 
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Oh I don't know... Apple?

Or these guys... here

If you read the comments, it seems like it got panned...but the concept is different....it didn't float my boat but then I am not 25 either...
I really wish there was something novel, lasting and that had some "keepability flavor or value" to it to use with flowers.
Something that would appeal to the next generation to encourage them to buy flowers from a florist and not just grabbing a bouquet in a grocery store.
 
4. Lifestyle. Formal living rooms and dining rooms are shrinking or disappearing entirely in newer homes. In their place are 'entertainment' areas with open kitchen/dining/family rooms for casual, comfortable gatherings. In general, we're less formal. You can see that in attire, too as suites and ties gave way to "business casual".

I haul ours out for special occasions, but it takes extra effort. None of it really should go through the dishwasher so the added clean-up time makes me think twice - but it sure is pretty. :)

Lifestyles and china: We have a formal dining roon with a plastic folding banquet table in it. It is great for kids' school projects but really would clash with the Lenox china and waterford crystal. :rolleyes: btw: that is one of my Woodworking projects this year.
 
1. China (the country, not the material). Knock offs and overproduction made each of the premium brands less special.

About 10 years ago, I stated to my wife that we live in a "good enough" society.

The product may not be exactly what we want, but at that price...it's good enough.

Didn't like thinking that way, but reality is what it is, even 10 years back.

Let's go back to the quote, and now think of our industry.

Replace the word "China" with FTD/1-800/TF.

Hmmmmmm....
 
Not spode, lenox or anyone else mentioned so far in this thread. Betsey Johnson, Dolce & Gabannah, Louis Vuitton, Manolo Bahlanik ....I know I butchered spelling on all of these :tongue: I would look to the fashion world. The dilemma is that they don't want stuff that doesn't serve a purpose every day. Also, are you looking for them to purchase for themselves / friends, or as gifts for their parents?

:)

Isn't that what Todd Oldham Preston Bailey, and Vera Wang are for on WS sites (Martha for the "older" sector)
 
I think Cathy hit the nail on the head....what "use" to be special and something we would work and save for is now diluted with smaller versions being sold in the likes of Costco, Sams and Bj's...I saw Lenox and freaking Godiva in Bj's at Christmas..wasn't the same sizes or items I sell but was big enough to annoy me. Won't buy it again...simple. It sems to be harder and harder to "stand" out on anything different anymore..containers..our wholesalers will sell to the public....candy...the distrib sell to anybody....balloons...the dollar stores have them. And so on....
Ratz....
Sher
 
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I think life as we have known it is changing so rapidly my head stays swimming,kids today and I mean 20s and 30s, want instant gradification and bore easy...our old traditions just bore them....we shall see how life changes .....
 
Isn't that what Todd Oldham Preston Bailey, and Vera Wang are for on WS sites (Martha for the "older" sector)
Good point Rhonda - which leads to

I think Cathy hit the nail on the head....what "used" to be special and something we would work and save for is now diluted with smaller versions being sold in the likes of Costco, Sams and Bj's...(added:eek:r FTD)
I think it's also a reversal of what started eons ago - searching for manufactured things from far and wide, different from what was in your hometown, exotic perfection. Now, people are beginning to seek hometown produced goods, handmade, imperfect and skipping these mega manufacturing products, elite as they once were .... maybe instead of looking for a global name to tack onto our flowers we should be seeking more locally produced containers to accent our locally designed florals. Not exactly an easy nation-wide push, but more of a local effort, produced individually & endorsed nationally.
/daydreaming.
 
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