How Ed Teplitz is reshaping Theodore Alexander
Ed Teplitz’s career in furniture includes executive roles at Ethan Allen, Natuzzi Americas, Omnia Leather and others. He joined Theodore Alexander in 2021 with a mandate to increase market share and has spent the last five years broadening the company’s offerings, tinkering with price points, introducing new product categories and bringing back parts of its accessories business. The company, which is celebrating its 30th anniversary, relocated its High Point showroom and opened its own retail store in Manhasset, N.Y. last year. It also recently relocated its U.S. headquarters, warehouse and upholstery factory to a 200,000 square-foot facility in Trinity, N.C. Home Accents Today spoke with Teplitz in September.
You’ve worked at Natuzzi and several other furniture companies. How does this experience inform your leadership at Theodore Alexander?
I spent 16 to 17 years at Ethan Allen, which gave me a great understanding of the industry. At heart, I am a retailer. I was an Ethan Allen dealer — I had three stores in Pittsburgh and three in Cleveland. Farooq [Kathwari, CEO, president and chairman of Ethan Allen] asked me to join as head of finance, so I sold my store to corporate, loaded the truck and moved to Connecticut [where Ethan Allen is headquartered].
I got great experience in all aspects of the business. I oversaw a division with sales close to $500 million and 1,000 employees, so it gave me an opportunity to broaden my leadership and figure out how to manage a large group of people.
Natuzzi was a great opportunity. Pasquale [Natuzzi, the chairman] was a wonderful person to learn from and work with. I got a very strong understanding of international business as well as the upholstery side of the business.
Theodore Alexander is a little gem I wish more people knew about. The goal is to help the industry understand who we are and what we offer. It is family owned and committed to the business. They love furniture. They are very supportive in helping us change and grow the brand and become a whole-home design solution for retailers, consumers and designers.
Theodore Alexander is known for its beautiful traditional furniture. How do you modernize a brand without chasing trends?
When I joined in 2021, we were a 25-year-old brand known for dark brown traditional furniture, what I like to call ‘jewelry pieces.’ We realized consumer tastes were changing and if we continued in that direction, there was a good chance Theodore Alexander wouldn’t be around.
We decided to embrace who we are — not give up traditional; it’s our DNA — and we knew it would come back. But we also had to broaden our customer base. It was like an upside-down triangle — we were reaching the top 1% in price. We were limited in our offerings. So, we decided to broaden the styles we offer, introduce a lower price point and get away from being just these jewelry pieces. We went headfirst into transitional and then dipped our toe into a little bit of modern and contemporary.
We also wanted to lower our price point. We needed to appeal to at least the top 10 to 15%, so we’d have more customers. We did not sacrifice quality. We did it through design, scale and shaping. We spent considerable time and resources on choosing the right veneer, the right hardware and then using larger production models to get better economies and better scale at our factories.
We decided we had to do full collections, so that when we introduced them, it wouldn’t be a few pieces here and there. In upholstery, we broadened our styles and tried to be more competitive with price points. We changed the way we built our furniture without sacrificing our comfort and quality.
I think if you look at Theodore Alexander today versus 2020, it’s almost a metamorphosis. Traditional has grown. Our SKU count has grown in ways much more appealing to a broad base of consumers and retailers.
You recently added motion furniture to the mix. Why do you think motion furniture is a compelling opportunity for the high-end market right now?
We had a partner [store owner and operator George Cheong] who wanted to open a store in Manhasset. It opened our eyes to the gaps in our line. When the store opened and we saw what was missing, one of the first things we looked at was motion upholstery.
My background with Natuzzi [was helpful]. Natuzzi has a partner in Asia that also understands motion. So, we went out to see how we could jump into that.
At the high end, motion doesn’t look like motion. It’s not Bubba anymore. You wouldn’t even know its motion. Why not have that wonderful comfort and at the same time have that great style? So, we looked at how we could enter the motion market in a way that customers would embrace and not look at it as a me-too.
We put a lot of comfort into the product, [as well as] style, in a larger scale than you see in the market and made it a great value in the marketplace. It was introduced last October, is at retail now and it’s doing incredibly well.
What is your approach to the accessories business?
Theodore Alexander was known 15 years ago as an accessories and lighting company [but later] moved away from that. Once we made the decision to go whole home, after we did the furniture, we looked to see where else we saw an opportunity.
We have exclusive Theodore Alexander art. We thought it was a huge opportunity. The next step was area rugs. For our smaller retailers and designers, we have a great partner and an exclusive with rugs. In 2023, we got back into lighting — table lamps, floor lamps and chandeliers. Our retailers are helping us see gaps and opportunities. We have our own foundry in Vietnam, so all our metalwork is done in-house. It is designed and manufactured by us. It’s the jewelry on the piece that gives it a little punch and makes it exciting.
We’re not looking at tabletop accessories — it’s very competitive. We need to be unique and offer what others don’t.
You have a new stand-alone showroom in High Point, and a new store on Long Island. Does your High Point presentation influence what you feature in the store?
The old High Point showroom was gigantic. It was exhausting — we showed new and existing bestsellers.
We moved for multiple reasons. Our lease was up. We decided we didn’t need all that space. And the people coming to market are looking for new. They don’t need to see all the existing.
We’re in a great location [425 N. Hamilton], and we get a lot of cross traffic [from nearby showrooms]. We’re focused on new introductions and introductions from the prior market, with some bestsellers spread about. It’s only about 18,000 square feet.
It does not influence the Manhasset store. What sells best for the company is what places best. Our dealers choose what goes on their floors. In Manhasset, we put a lot more on the floor. The customer has more opportunities to see what we have and what we can do. Here we have traditional, transitional, modern and a lot more upholstery. It’s an opportunity to showcase what the brand offers, and the consumer is responding very favorably.
What have you learned from the Long Island store opening? Did anything surprise you?
I think what surprised us — and this is unfortunate — [was] how many people had never heard of Theodore Alexander. The positive was that after they toured the store, they said, “We’ve never heard of you, but what you offer is incredible … We want to figure out how to put some of this in our home.”
Consumers want luxury. If your store is aspirational, it helps them visualize it, with the help from our design team. It is also a great showcase for our interior designers.
Are there any other stores in the works?
We are looking. We’d like to open other new stores with our partner. It has to be the right market, one where we are underperforming.
We are 100% committed to our retail partners. The goal is to raise awareness [of our brand] and our business overall.
How would you describe your leadership style?
Everything is a team approach; it’s certainly not top-down. I think everyone should have the autonomy to do their job and do what they’re great at. I’m always around for guidance, support and approval. I certainly don’t micromanage.
Do you consider yourself a leaper or a planner?
Deep down, I’m a leaper. I have to remind myself sometimes to plan.
I’m a firm believer that any decision that’s not going to bankrupt the company is a decision worth making. I can be strategic at times but also jump at a chance for an opportunity. The owners are very entrepreneurial and supportive. We can change on a dime. Larger companies can’t do that, but we can.
Your company is celebrating its 30th anniversary. What do you want Theodore Alexander’s message to be for the wholesale and retail market going forward?
We want everyone to know that we are 100% committed to this industry. 30 years is just the beginning. So many don’t understand how much we’ve changed and how much we offer. We still embrace traditional but also offer all these other lifestyles at a wide range of price points. We are committed to quality, great design and craftsmanship.
We’re having a big party Friday night [at market]. It’s going to be a celebration of 30 great years. We want everyone to come see our showroom. I think it’s the best-looking showroom in High Point.
Just for fun
What’s the first app you open each morning?
My emails
Most interesting place your job has taken you?
Moscow, back when it was safe to go
Do you follow a sports team?
Pittsburgh Steelers
How do you spend your time in airports?
Usually doing emails or reading
What book are you reading right now?
I tend to read a lot of spy mystery fiction. I just finished Rules of Engagement by Ken Fite.
Are you streaming anything?
Right now, I’m streaming Reacher.
