Madan developed relationships with furniture manufacturers in Hong Kong and, in 1979, the year after Prime Minister Pierre Trudeau’s landmark trip to China, Madan followed, devel- oping new relationships. He was soon purchasing from India, Indonesia and the Phillippines as well. “I love retail. It’s always changing. You have to adapt and be flexible – there’s never a dull moment.” In the 80s, one of his mall landlords proposed that he expand his product line beyond wicker and rattan furni- ture to other items of home décor. Mirrors, window treatments, rugs and various other items of comple- mentary home décor followed, with furniture remaining the prime offering. The 90s saw a surge of interest in wrought iron furniture, and in the 2000s, Wicker Emporium began sourcing increasingly popular solid wood items, made from exotic varieties like acacia, and reclaimed wood. Many of the wood items come with Forestry Stewardship Certifica-
tion, an environmental accreditation meaning they are guaranteed to not be depleting virgin forest. Currently solid wood furniture accounts for about 70% of Wicker Emporium sales. As the company’s product offerings have evolved to meet market demand, so too has the way the company has done business. Raj notes that one of the challenges of family business is the daily task of keeping business relation- ships and personal relationships separate. The last few years have been ones of change and transition for the company.
“We got through. We have the right management team in place now, and there is lots of harmony.”
Which is good, because the digital revolution that has shaken almost every industry has hit retailing as well. Customers today don’t only seek product and price comparison information online, they can indulge in almost every aspect of a retail experience from the comfort of their own home, with everything from painted room emulators enabling them to test colours, to virtual dressing rooms. Even products as generally tactile as home décor products have been affected.
Far from feeling threatened by these changes, Raj clearly embraces the excitement of an industry that is in flux.
“I love retail. It’s always changing. You have to adapt and be flexible – there’s never a dull moment.”
Throughout the 2000s,Wicker Emporiumfollowed a growth strategy that sawcon- tinued brick-and-mortar store expansions--they now have 23 locations. Adapting for the new environment has meant sharpening their strategy and embracing new marketing channels that didn’t exist when Madan brought his first shipment of wicker chairs and loveseats ashore.
“A large part of our market is really millennials,” says Raj. “They value fashion,
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SPOTLIGHT ON BUSINESS • AUGUST 2016
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