Edwina Bartholomew speaks to Icon By Design Co-founders David and Adam Light about the success behind their award-winning retail business
Father/son team David and Adam Light saw a gap in the Australian market for timeless design, beautifully crafted solid timber furniture at an affordable price point, so they developed a unique business model to fill that gap.
Icon By Design recognises customers want to discover style and product choices on their social networks such as Facebook and Instagram. They often research products and brands online and then visit a store to experience the product in person. While they are making their choices they engage in-store, on social, via chat or even on the phone.
Sustainability is an integral part of the Icon By Design philosophy. Rejecting a disposable society, Adam and David Light believe furniture should gain its own meaningful and valued history as it becomes part of our lives. David explains their objective is for a customer to purchase a piece and ten years later look at it and say ‘I still know why I bought it. I’m still enjoying it for what it is’. And while the furniture is sustainably crafted overseas and the materials globally sourced, products are selected to incorporate the Australian design ethos. The company takes pride in supporting and fostering home-grown design talent.
So how does this beautiful furniture come at such an affordable price-point? The answer is that at Icon By Design, they’ve re-thought the supply chain model – from sourcing wood responsibly through to manufacturing and retailing, David and Adam have cut out the middle-men. David explains this single factor has enabled them to offer the range at “half the price, or even less than our competitors”. Adam adds their unique two-price model also offers shoppers a choice of buy now convenience or the alternative benefit of pre-ordering to reap a further 20% saving on the price of purchase. This system also allows for a more efficient supply chain since they don’t carry excess stock since inventory purchases and inventory levels are based on actual demand, updated daily.
So, what’s their secret? Maintaining the strength of this father/son business is not just in the family bond and care factor. Another important asset is David and Adam contribute with their complimentary skill sets and thought processes, which is clearly something they both trust and recognise.
The family connection continues within the business with David’s daughter Nicki Light as General Manager. Nicki points out “Other stores increase the price of their products so they can afford to offer discounts so customers feel they are getting a great deal. They also discount steeply to get rid of stock that is selling poorly. We prefer an honest, fair and sustainable price structure.”
Clearly the public have embraced the company’s ethos – as has Edwina, she certainly took a shine to the Icon By Design items onset!
Find out more by visiting https://www.iconbydesign.com.au/