Monday, July 20, 2009

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Next in line: Lang files Chapter 11

by Cinda Baxter on July 20, 2009

in Economy, Vendors

langThe trend continues as we watch behemoth vendors file bankruptcy in the gift industry. While in Chicago, I heard about Lang filing; I see now the press has the story, which you can read here.

Like others, I feel we’re at the start of the curve here-—not the end-—but my take is that most of the filings yet to come will be from vendors who also operate corporate stores (think: Department 56, Smith and Hawken, Crabtree & Evelyn). In most cases, bankruptcy is the only “out” on their often bloated leases, which allows then to step away from their mall commitments to reorganize internally. The company survives, but the landlords lose out. Big. [click here to continue…]

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Chicago Gift Show wrap up

by Cinda Baxter on July 20, 2009

in Chicago, Markets

chicago_marketA few weeks ago, when it became apparent many retailers were scaling back on big market trips to opt for shows closer to home, I suspected Chicago might be one of the winners. Sure enough, instincts were correct.

There were buyers in the aisles, ready to do business, with positive attitudes and determination to survive the frustrations of 2009 (sound familiar? much like what I saw in Atlanta). Those who I spoke with had a plan…a budget…and an appreciation for vendors who wanted to work with them.

Thankfully, the vendors I spoke to echoed that appreciation for buyers who attended. Everyone recognized the head count was down, but were just as quick to note the missing bodies represented the “lookie loos” and less viable buyers. The quantity may have gone down, but the quality of buyers was most definitely up.

Which brings me to a pet peeve that began gnawing at me in Atlanta, then switched to full blown frustration in Chicago. [click here to continue…]

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