This week in design, hard-core Halloween decorators are prepping for the spooky season with everything from animatronic skeletons to interactive mazes. Stay in the know with our weekly roundup of headlines, launches, recommended reading and more.
Business News
President Donald Trump’s new tariffs went into effect today. Imported upholstered furniture will now face a 25 percent duty, which will rise to 30 percent on January 1, 2026, while kitchen cabinets and vanities will now incur a 25 percent tariff, set to rise to 50 percent in the new year. Imported timber is now at 10 percent. With the exception of China, these new tariffs will not “stack” on top of previously announced country-specific duties, and certain regions—including the U.K. and the EU—are exempt from the new policy.
In other tariff news, last Friday, Trump threatened to impose a 100 percent tariff on Chinese imports—a retaliatory response to China’s restriction of rare-earth mineral exports. As The New York Times reports, he announced that the duties would begin on November 1, and would be implemented in addition to the existing 30 percent baseline tariffs on Chinese exports. Not long after posting the statement, the president hinted that the new tariffs could be withdrawn before the upcoming deadline, as the leaders of both countries are set to discuss policy during an economic conference in two weeks. Still, the stock market took a hit following his proclamation, with the S&P 500 falling more than 2 percent that day.
The investment arm of Ikea parent company Ingka Group has acquired a U.S.-based AI logistics software company called Locus, Retail Dive reports. The terms of the deal were not disclosed. According to a statement from Ikea head of retail Tolga Öncü, the purchase will allow the company to better facilitate deliveries, bringing related operations in-house rather than outsourcing to third-party providers. Following the acquisition, Locus will continue to operate independently and service clients outside of Ingka Group.
Lowe’s closed on an $8.8 billion deal to acquire Foundation Building Materials, an interior building products distributor serving the professional market, Retail Dive reports. The purchase marks another step in the big-box retailer’s strategy of moving further into the pro segment, following the acquisition of Artisan Design Group in June. According to a statement from Lowe’s CEO Marvin Ellison, the purchase will benefit customers with offerings such as an expanded product assortment and a trade credit platform, while also expanding the retailer’s pro presence to California, the Northeast and the Midwest.
The National Flood Insurance Program has ceased to issue new policies during the government shutdown, forcing buyers to pursue private insurers or put off new home purchases, The New York Times reports. According to Nadia Evangelou, a senior economist and director of real estate research for the National Association of Realtors, around 8 percent of all properties in the U.S. are situated on a 100-year floodplain (an area that has a 1 percent or greater chance of flooding yearly)—meaning up to 8 percent of home sales could be derailed during the government shutdown. Affected areas include Florida and the Gulf Coast, as well as New York City, where 15 percent of the land is within a 100-year floodplain. In the meantime, brokers are looking for workarounds to push deals through, such as temporary rent-to-own schemes and having the seller sign over the home’s existing flood insurance coverage to the buyer so they can secure a mortgage.
Rather than buying homes, a growing Gen Z contingent is opting to place their money in the stock market, The Wall Street Journal reports. According to a recent JPMorganChase report, 37 percent of 25-year-olds used investment accounts in 2024—a sixfold increase from 2015. The study cited volatile housing market conditions, especially low affordability, as a potential contributing factor to the spike, “making financial assets like stocks relatively more attractive or accessible than home equity.” To that end, data from the National Association of Realtors reveals that Gen Z’s homeownership rate is just 16 percent, while the number of first-time homebuyers has reached a record low. Aided by a new suite of digital investing tools and trading apps—not to mention returns on stocks averaging roughly 14 percent a year—many are opting to pursue the path of renting and investing rather than making the leap to homeownership, which is saddled with the higher costs of insurance, property taxes and maintenance fees.
Launches and Collaborations
Home decor brand MacKenzie-Childs tapped fine art photographer Gray Malin for the debut of a new collection. The 15-piece assortment spans serveware, glassware, dinnerware and home accessories that are rendered in a blue-and-white color palette and incorporate wintry motifs inspired by the snowy alpine scenes captured in Malin’s photos.
In collaboration with Universal Studio, Pottery Barn & Pottery Barn Teen have each introduced new collections inspired by the upcoming film Wicked: For Good. Decked out in a pink-and-green color scheme and art deco elements, the debuts include bedding, barware, trunks, pillows, jewelry boxes and more.
Loloi Rugs teamed up with Leanne Ford for a collection of handmade rugs and pillows. Inspired by the classic children’s book The Secret Garden, the assortment features earthy tones and natural materials, offering an artful, textural aesthetic.
Recommended Reading
Hues like “dusty rose, mucky light green, grimy ice blue and oxidized lilac” are all part of a new wave of so-called dirty pastels—shades far moodier than the Easter colors typically associated with pastels. For The New York Times, Misty White Sidell explores how the palette’s growing popularity could indicate that American homeowners are ready to leave long-dominant neutral ranges behind.
There’s no shortage of design enthusiasts eager to take a bit of Kelly Wearstler’s creative magic back to their own homes, as evidenced by her 2.2 million Instagram followers and 30,000-plus Substack subscribers. Thanks to Wearstler’s newest venture, they’ll now be able to tap into some of the artists and makers behind pieces featured in her designs. For the Financial Times, Jill Krasny visits the design maven at her Beverly Hills home to chat about Side Hustle, her new collectibles platform launching this week, and the accompanying physical exhibition taking place this month within her 1,600-square-foot pool house.
