Podcast Summary: Business of Home Podcast

Episode: The Thursday Show: Will the Supreme Court undo Trump’s tariffs? Plus: The evolution of Maiden Home
Date: November 13, 2025
Host: Dennis Scully
Guests: Fred Nicholas (BOH Executive Editor), Nidhi Kapoor (Founder, Maiden Home)

Overview

This episode of The Thursday Show dives deep on several vital topics for the interior design community: a Supreme Court challenge that could unwind Trump-era tariffs on imported goods, big industry news like Charles Cohen’s loss of the Houston Decorative Center, earnings from key design brands (First Dibs, Our House, Ethan Allen), the quirky trend of naming homes, and an in-depth interview with Nidhi Kapoor of Maiden Home, covering surviving and thriving as a challenger brand.

Main Discussion Segments

1. Design Leadership Network Summit and BDNY Trade Show Recap

(00:07–05:37)

• Fred Nicholas shares fun stories from the Design Leadership Network’s summit in Madrid (renowned designers, architecture critics, “lots of schmoozing… great Spanish restaurants”).
• The prevailing mood at the summit: designers and brands are eager to break out of 2024’s economic uncertainty and forge ahead with new business models and markets.
• Dennis Scully recaps the highly energetic Boutique Design New York (BDNY) show at Javits Center—“It was a really crowded and upbeat show” (04:00). Exhibitors seemed bullish, with new product launches and optimism about the state of the market, particularly in hospitality design.
• The pair speculate that BDNY’s energy may incentivize competitive trade shows like ICFF to raise their game.

Notable Quote:

“I think people were all ready to do something new with their business. There’s just this last year has been defined by so much ups and downs … and I think that people are a little over it.” — Fred Nicholas (02:29)

2. Supreme Court May Undo Trump’s Tariffs

(09:13–16:27)

• (09:13) Fred introduces the “big news on the tariff front”—the Supreme Court’s skepticism about presidential authority to impose sweeping tariffs.
• (09:37–10:31) Clip from the Supreme Court hearing features pressing questions from Justice Amy Coney Barrett. The justices—across the ideological spectrum—question whether there's historical or legal precedent for such broad presidential tariff powers.
• The mood in court (and prediction markets) suggests the Supreme Court may undo the tariffs—a move that would upend years of business planning (esp. tariffs on China/Vietnam).
• Fred and Dennis probe the business impact:
  • Would companies lower prices if tariffs are rolled back?
  • The challenge of undoing complex pricing and margins shaped by years of tariffs.
  • The logistical and psychological strain for importers, and the effect on potential refunds or government revenue.

Notable Quotes:

“It was really striking because heretofore they have been giving a pretty wide berth to executive power.” — Dennis Scully (11:06)
“If the Supreme Court brings the gavel down and invalidates these tariffs, we’re in a brave new world.” — Fred Nicholas (12:27)
"Once you lose that tariff, do you have to bring the prices down? Can you leave them where you were?" — Fred Nicholas (13:43)

3. Charles Cohen Loses Decorative Center Houston

(17:03–22:32)

• Fred breaks down how Charles Cohen quietly lost ownership of the Houston Decorative Center after mortgage default and foreclosure.
• The property was sold to a mysterious investment group, raising questions about the future of the center and whether it could become a housing development.
• Broader perspective: with Cohen losing both DCH and the Dakota, and ongoing lawsuits, will he eventually exit the design center business entirely?
• Reactions from tenants: general relief at Cohen’s departure, speculation about new ownership.

Notable Quotes:

“Pretty much everyone I told this to was like, ‘Oh, thank goodness. We’re really excited to see a new landlord come in.’ This is great news.” — Fred Nicholas (18:50)
“Is it as advantageous to only have two design centers as it was to have four?” — Fred Nicholas (20:44)

4. Industry Earnings Update: First Dibs, Our House, Ethan Allen

(22:47–33:18)

First Dibs

• Turnaround story: after languishing at a low valuation, First Dibs’ stock is up, aiming for EBITDA profitability. The company has cut to the bone, including layoffs and reduced marketing.
• Controversy over new AI price estimate tool—sellers of new products are upset that their listed prices are being “corrected” by an algorithm.
• Some prominent brands (e.g., Fernway) are leaving the platform in protest.

Notable Quote:

“They’ve cut their staff and expenses to the bone. But it seems to be working for them... The numbers were going the right way and Wall Street seemed to really like it.” — Fred Nicholas (23:01)

Our House

• Revenues and margins grew but the stock “cannot find a friend on Wall Street.” Investors remain skeptical despite upbeat executive commentary.
• Frustration that the furniture sector is undervalued compared to flashier tech stocks.

Notable Quote:

“Our House had a pretty good quarter and yet it cannot find a friend on Wall Street ... there’s just not a lot of enthusiasm.” — Dennis Scully (28:03)

Ethan Allen

• Downbeat quarter, with declines in government/wholesale business.
• Wall Street hates the stock despite its high dividend, punishing what’s seen as lack of growth and innovation.
• Skepticism about the value of its “utility company” model.

Notable Quote:

“The street is ringing alarm bells and calling, I think, for a pretty dramatic shift in that company’s leadership.” — Dennis Scully (32:48)

5. Trend Talk: Naming Houses

(33:18–38:12)

• Discusses a New York Times article on the growing American trend of naming homes, sometimes with accompanying logos and branding.
• Both Dennis and Fred support the fun and storytelling in naming homes, connecting designer project names with product branding.
• The whimsical side of design identity, referencing English traditions and contemporary branding strategies.

Notable Quotes:

“I think it just adds so much richness and depth to the property and to the experience.” — Dennis Scully (35:10)
“Names and words really can shape products and projects ... I’m obsessed with names.” — Fred Nicholas (37:13)

6. In-Depth: The Evolution of Maiden Home with Nidhi Kapoor

(40:05–64:50)

Maiden Home’s Journey (41:05–45:48)

• Nidhi recalls being the seventh guest ever on BOH and reflects on Maiden Home’s consistent mission: launching from a disciplined, custom-upholstery startup to a multi-category modern design brand.
• Kept the business true to its original vision—prioritizing craft, custom, and quality over mass-market speed or price competition.

Surviving Turbulence & Scaling Up (45:48–51:27)

• Maiden Home survived where many VC-backed disruptors failed—by maintaining focus, not overextending, and betting on close client and trade relationships (especially with designers).
• The trade always played a central role (“The trade has been a huge driver of the business … even since the early days.” — Nidhi Kapoor, 45:48)
• On resilience: “Dogged focus … following my instincts … it’s a cult following in the trade.” — Nidhi Kapoor (45:48)
• Biggest challenge: scaling artisanal, high-end production (especially with demanding quality standards), and replicating North Carolina manufacturer relationships globally.

Global Sourcing: Why Not Vietnam? (51:27–54:04)

• Maiden Home explored Vietnam but rejected it for being too mass-production and compromise-oriented:

  “It’s just mass production and the quality reflects that … We have to look and push through walls and go places where no one else is interested in going—because it’s really not that easy and it’s not that cheap.” — Nidhi Kapoor (51:48)

New Products, Showrooms, Strategy (54:04–57:54)

• Carefully expanding assortment, now adding more European production, contemporary styles, “challenging new mountains.”
• New stores in NYC (Meatpacking) and Miami as important marketing and credibility tools.
• Relies on physical experience, organic word-of-mouth, and trade enthusiasm over digital marketing (“Let the product do the marketing,” 56:17).

Honest Pricing & Luxury Positioning (57:54–60:30)

• Maiden Home’s pricing is “fair and honest”—Nidhi defends maintaining quality and not value-engineering just for price, even as product gets more expensive and luxury.

Advice to Entrepreneurs (60:30–62:05)

“When you’re up against challenges that feel truly impossible, that is the time to double down and push through. That is how you can really trailblaze and create something really special.” — Nidhi Kapoor (60:53)

AI and the Future (62:05–64:29)

• Nidhi embraces AI as a back-end tool to analyze thousands of client conversations and inform product line extensions—not for design or creativity.
• Believes AI is a force for innovation; “Our job is to understand it, harness it, and evolve with it.”

7. Industry News “Catching My Eye”

(65:05–68:12)

• Julia Haley Montanez moves to Wanted at ICFF—adding fuel to the competitive trade show fire.
• Jill Singer launches design newsletter “Counter Space” on Substack.
• Former guest Sarah Fritsch’s Studio Tigris product picked by Oprah.
• Veer Grenny launches a Create Academy course.
• The Ticking Tent event in Bedford, NY, hosted by podcast alumni Ben Reynard and Christina Juarez.

Memorable Quotes & Timestamps

• “It was a fun time, but it was cool. You’re at this palace and Jamie Drake is explaining the upholstery from the 19th century.” — Fred Nicholas (01:18)
• “All of the markets are now saying that there’s only a 25% chance that the Supreme Court won’t undo Trump’s tariffs.” — Fred Nicholas (11:31)
• “If they don’t somehow lower prices or make some kind of announcement … I just can’t see how you hold the line on those prices.” — Dennis Scully (14:17)
• “Would you rather have a slightly underwhelming design center or a housing complex? I think that’s the question.” — Fred Nicholas (21:28)
• “We let the product do the marketing. Truthfully, the trade—interior designers that have started to really follow us … they spread the word in a very organic way.” — Nidhi Kapoor (56:17)
• “Push through, have conviction, believe in yourself—that’s what matters.” — Nidhi Kapoor (61:22)

Conclusion

This episode is rich with inside analysis on hot policy news (tariffs), business shifts, and brand evolution. Interviews balance business intelligence with industry color, and listeners get behind-the-scenes tactics from Maiden Home as well as trend-watching and a playful moment on the fun of naming homes. A must-listen for designers, brand leaders, and anyone following the nexus of design, commerce, and change.