Surya CEO lays out plans for Mitchell Gold & Bob Williams
During What’s New What’s Next in New York last week, Satya Tiwari and Mitchell Gold discussed immediate plans and long-term goals.
NEW YORK — Before deciding to purchase Mitchell Gold + Bob Williams last year, Surya CEO Satya Tiwari walked the floor of the factory in Taylorsville, N.C. The former workplace, which at its peak employed nearly 700 workers and was a shining example of how progressive factory work can be, was eerily quiet.
Nearly the entire workforce had suddenly found itself out of work in August 2023, when the company abruptly filed for bankruptcy.
“We saw hundreds of people with nowhere to go,” Tiwari told an engrossed audience packed into the Global Views 200 Lex showroom during What’s New What’s Next last week.
Mitchell Gold, who sat beside him during a panel discussion, added, “Satya’s focus is ‘How can we employ more people?’”
If you employ more people, you make more money, Tiwari agreed.
Now, 13 months later, Tiwari owns the brand, has brought some of the factory workers back, has been rebuilding the business with Gold’s help, and is prepping introductions for next month’s High Point Market. He is also looking for his next acquisition (but more on that later).
After the bankruptcy filing, the factory was sold to private equity. It took between eight and nine months for Tiwari to lease it back, and he said he hopes to buy it one day. The factory employs 47 people, and 99% of the workers there are former MG+BW employees. There is a waiting list for job openings.
“We want to bring all 700 people back to work,” Tiwari said.
Surya, whose roots are in rugs, has long manufactured in India, but Tiwari said he was pleased to offer American-made goods. “There’s something special about making it here,” he said.
He gave a quick brand update: By next month, the MG+BW website will be up and running. It will open a temporary showroom for High Point Market (G-26, IHFC), and has a dedicated, 5,000-square-foot space at the World Trade Center in Dallas.
In High Point, it will introduce the Cooper Sofa in three sizes and a tête-à-tête. Those new pieces, in a marigold colorway, are a take on MG+BW’s existing club chair. There is also new wool velvet upholstery for the Giselle curved sofa (“Wool velvet is the Bentley of velvets,” Gold noted.)
In six months, there will be a new collection of upholstery, tables, dining sets and bedroom furniture, according to Gold. He added that they are still building the design team and “we have to figure out a cadence of what we are comfortable with.”
“It’s going to grow every day. Every day we want to bring freshness,” Tiwari said. But then, looking at Gold, he quickly added, “This man has been through a lot; we don’t want to rush. It has to feel right. There’s no magical timeline.”
“I’m pretty disciplined,” said Gold.
“I’m learning to be disciplined,” said Tiwari.
Earlier in the conversation, however, Tiwari said he was in acquisition mode, and when questioned about categories he was interested in, he said “wallpaper” but did not elaborate.
Tiwari addressed the crowded showroom, presumably filled mostly with interior designers, and said he was indebted to them for keeping his business afloat during the 2008 economic downturn. He also acknowledged that many interior designers suffered from the sudden closure of the business last year, when many of them did not receive the furniture they had ordered and paid for. Surya acquired MG+BW’s intellectual property but not its inventory (which was scooped up by The Dump Luxe Furniture Outlet) or its retail stores.
Tiwari promised special pricing for 12 months for those who were adversely affected.
“We will share the pain together,” he said.
Surya will market the brand primarily to interior designers under MG+BW’s longstanding mantra of “approachable luxury and approachable pricing.”
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