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|Articles - February 2013|
|Monday, January 28, 2013|
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Lapchi — Tibetan for “abode of good energy” — wasn’t the first company to fashion a made-to-order rug. “But we were the first to create a business model based on custom,” says Smith. Lapchi dealers typically purchase just a few rugs in each style, allowing interior designers to then customize for size and color. The manufacturing takes place in Kathmandu, where 30 Lapchi employees oversee the production of the on-demand carpets. Depending on the amount of silk and “knot density” — knots per square inch — a 9-foot-by-12-foot Lapchi rug typically costs between $7,000 and $12,000.
By 2005 most high-end rug dealers had started to adopt the Lapchi approach. But if the company revolutionized the industry, the rug company is also an example of “be careful what you wish for.” Under the new model, dealers no longer need large amounts of capital to purchase hundreds of rugs up front. “We inadvertently demonstrated the barriers to entry were very low,” Smith says. Today, “there are 100 companies doing what we do.”
As competition increased, so did factory costs, which are 70% higher than 12 years ago, Smith says. The recession also hit hard. In 2011 Lapchi grossed about $5 million, down from $6.5 million in 2008. To stay competitive in a tight market, Smith and his partner, Salman Khan, are pressing ahead with new innovations, with a focus on leveraging the atelier concept into higher sales.
Tuesday, February 25, 2014
BY LINDA BAKER
A blueberry bush is a blueberry bush — except when it’s a blueberry tree.
Thursday, April 10, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
SEMpdx hosted a workshop this week for entrepreneurs, website developers and others interested in search engine optimization (SEO). Here are a few tips and tricks aimed at bumping up your search engine rankings.
Thursday, April 03, 2014
BY OB STAFF
Learn how to green your workplace and lower your environmental footprint at the office. Oregon Business presents a two-hour "Greening Your Workplace" seminar on May 28th, 2014 at the Nines Hotel in Portland.
Thursday, February 27, 2014
Our 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.
Monday, March 03, 2014
Check out interviews with employees from some of the 100 Best Companies to Work For in Oregon winners and find out what makes their company a great place to work.
Tuesday, March 04, 2014
BY DEBRA RINGOLD | GUEST CONTRIBUTOR
How can we strengthen the performance of institutions charged with teaching what Francis Fukuyama calls the social virtues (reciprocity, moral obligation, duty toward community, and trust) necessary for successful markets and democracy itself?
Tuesday, February 25, 2014
Brad Smith, founder of Hot Pepper Studios, and Travis Boersma, president of Dutch Bros. Coffee, share their recent reads.
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