"America appears constantly fascinated by the famous, often without regard to their talent or ability. A celebrity identity gives consumers some comfort and reinforcement that someone else has chosen the item, too." The other quotation: "I can't put my name on something I don't love," Donald Trump said. The key is mixing the identity and the appeal of the celebrity with the affordability and attractiveness of the product.
Have you seen Donald Trump at the world's biggest furniture trade show?
"Trump Home furniture offers consumers a tangible way to experience the luxurious Trump lifestyle for themselves . . . even if they can't afford millions for one of my properties," Trump said. "Now the public can not only wear my clothes, they can sit on my couch."
Should Trump's over-the-top bombast not suit your personal style, how about a couch from model Cindy Crawford? Or a couple of chairs from stars Mary-Kate and Ashley Olsen? Such boldface names are all over furniture today, AP’s Ieva Augstums writes.
"America appears constantly fascinated by the famous, often without regard to their talent or ability," said J. Epperson, a furniture-industry analyst with Richmond, Va., investment banker Mann, Armistead and Epperson. "A celebrity identity gives consumers some comfort and reinforcement that someone else has chosen the item, too." And the furniture industry has very few consumer-recognizable brands -- less than 10 by most measures…
Some celebrities lend more than the name. Such famous-name furniture isn't new -- think Martha Stewart. Other celebrity lines that have sold well include that of American Realist painter Bob Timberlake and a collection named for fashion designer Liz Claiborne, both sold by Lexington Home Brands.
But several of the more recent celebrities to enter the market are like Trump, who bring their name to the business as much as a designer's touch or artisan's eye. They include Crawford, whose furniture collection debuted in late 2005, and the Olsen twins, whose second collection will hit stores this spring.
Trump opened doors to his lifestyle. This spring, Trump was the rookie at the furniture market in High Point, about 90 miles west of Raleigh, where 70,000 people gather every six months to do business in more than 12 million square feet of showroom space. He met in nearby Thomasville with more than 350 buyers, all eager to hear him talk about his venture into the furniture business.
"The thing I really do know is furniture," Trump said. "I buy it for all my properties and will buy this furniture for my future properties."
Trump's name famously adorns his skyscrapers and hotels, as well as vodka, menswear and accessories. But the mogul said he has done more than just lend that name to Lexington Home Brands; he opened up his personal homes and luxury properties to designers from his privately held company so they could be inspired by his larger-than-life style.
"I can't put my name on something I don't love," he said.
The key, Epperson said, is mixing the identity and the appeal of the celebrity with the affordability and attractiveness of the product: "No one will buy ugly or overpriced furniture because someone's name is on it."