Murray Feiss to receive lifetime achievement award
Wednesday, December 31st, 2008With 60 years of experience in lighting innovation, Murray Feiss, founder of Murray Feiss Lamp Corp. and Generation Brands, shines a powerful light on the home furnishings industry.
At the Dallas Total Home & Gift Market in January, he will receive the Academy of Achievement Award from the Accessories Resource Team, an honor that recognizes his status as an industry pioneer. Furniture Style asked Feiss to survey the progression of his career and to discuss where he thinks the home furnishings industry is headed.
Residential Lighting: Where do you think the home furnishings industry is headed in the near future?
Murray Feiss: Of course, our major problem today is the fact that the housing market is weak. And this has an impact on two levels: We’re not seeing a lot of sales in new homes or in existing homes. In the past, our industry had been somewhat recession-proof because, when home sales weren’t strong, people would choose to remodel instead. So lighting would pick up with the pace of remodeling, especially in the kitchen and bath. However, this [current market] is an unusual situation because remodeling is not happening as often as it did in the past, since homeowners are struggling to get the credit they need for financing. So where do I see us in the next five years? I believe that business through the third quarter of 2009 is going to be tight, however, I see the recovery process beginning in the fourth quarter of 2009 and strengthening in 2010. Being in business for over 60 years, I am both positive and optimistic that those companies that practice good business strategies will emerge from this economic crisis leaner and stronger than ever.
Residential Lighting: How has the home furnishings industry changed during your career?
Murray Feiss: We’re talking about a period of maybe 50 to 60 years, but in general, I’d say that the industry is much stronger financially than it was at the very beginning. A lot of the companies that we do business with today are second and third generation. Basically, we do business with home centers, furniture stores, lighting showrooms and many others, including Internet companies. I think that the suppliers — ourselves included — are much stronger and much more diversified than they were years ago. I also think that the retailers are generally stronger and better developed than they were in the past. And then, I think that the industry overall is much more focused on the design and quality of the product. Also, I think that the consumer is probably more selective and better educated today. The consumer is looking for high quality, good materials, organic materials and products of value. As you take each step up the ladder, you then have no choice but to take another step up the ladder: That’s generally the way things work, but I think that the consumer today has a much better understanding of what they want.
Residential Lighting: What does the Academy of Achievement Award mean to you at this stage in your career?
Murray Feiss: It’s very gratifying. It’s an award that I share with a lot of the people who have worked with me in the past, especially since ours has been a family business. My wife, two daughters and sons-in-law have all been very active in the business, so it’s a confirmation of what we’ve been able to achieve as a family in our company. It’s also been a confirmation of my goal to develop Generation Brands as a major lighting company in the future, with future acquisitions. I retired in May from the day-to-day operations of the company, though I’m active in the company as the Chairman of the Board.
