LAS VEGAS, Feb. 19, 2008
/PRNewswire/ -- The Winter 2008 Las Vegas Market, held Jan. 28
to Feb. 1, proved largely impervious to the sluggish economic
conditions enveloping the broader home furnishings industry as
an unprecedented number of leading U.S. buyers and
international buyers flooded World Market Center and helped
spur a five-day order-writing pace that vastly exceeded
exhibitors' expectations.
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World Market Center Logo. (PRNewsFoto/World Market
Center) LAS VEGAS, NV UNITED STATES 08/08/2007 |
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The upbeat tone of the Market
was struck early, with the announcement that industry veteran
Bob Maricich had been named World Market Center's new
President and Chief Executive Officer. Maricich, formerly with
Hickory, N.C.-based Century Furniture Industries, is widely
recognized as one of the home furnishings industry's most
innovative leaders.
The Market's energy was further heightened by a number of
record-setting milestones in terms of buyer attendance. Show
organizers delivered a global event that allowed exhibiting
companies to capitalize on opportunities to grow profitably
with new buyers -- and the results spoke for themselves. Among
the highlights:
-- Total registrations well exceeded the historic 50,000
average, and included registrations from more than 100
countries -- on par with January 2007's mega market which
featured the opening of Building B
-- 23 percent more buyers than July '07 Market, and 6 percent
more buyers than January '07 Market
-- 83 percent of Top 100 U.S. retailers attended, which marks
the largest influx of national buyers compared to the last
five Las Vegas Markets
-- Non-U.S. attendance was up 20 percent over the last market,
with nearly 60 percent more international buyers
-- Attendance from the eastern region of the United States was
up 28 percent from last Market, which when combined with the
international presence, confirms this is not just a national
event, but indeed an international market
-- More than doubled the attendance of interior designers,
dramatically increasing the base of high end buyers coming to
Las Vegas Market
-- Thousands of new buyers attended Las Vegas Market for the
first time this January, resulting in new buyers for all
exhibiting companies
"These results serve as compelling testimony to the strength
and long-term sustainability of Las Vegas as the center for
future industry growth. They are even more remarkable in light
of the difficult economic conditions in which both retailers
and manufacturers are currently operating," said Maricich.
"World Market Center will continue to invest unprecedented
resources into progressive marketing programs that bring
buyers to Las Vegas and expand channels of distribution for
our participating companies, while delivering the best market
value and experience our industry has to offer."
Expectations Exceeded for Winter Las Vegas Market
This January, Maricich wasn't the only big name making a Las
Vegas debut. Lexington Home Brands had their first Market in
Las Vegas and opened their showroom to incredible fanfare.
Phil Haney, Chief Executive Officer of Lexington Home Brands,
said: "This was our first Market in Las Vegas and the results
were beyond our expectations. The traffic in our space was
unbelievable and over half of the dealers we saw were new
customers for us, people we had not previously reached. In
addition, we saw dealers from all over the country. This is
not a 'West Coast regional market.' This is truly a national
market and we are thrilled to be a part of it. We cannot wait
for the next Market in July, as we move to our permanent space
in Building C and launch Mar-a-Lago, the latest Trump Home
collection, with Donald Trump in attendance."
Also celebrating their inaugural Las Vegas Market was
Huntington Furniture. Chief Executive Officer Eric Easter
said, "We saw many new customers and further cemented
relationships with present accounts. We had retailers from
across the country attend. We were very pleased with the
results and look forward to Building C opening in July. The
Las Vegas Market will be very important to Huntington
Furniture for many years to come. We are extremely happy we
made the decision to show in January."
Roland Maddrey, Vice President of Sales & Marketing for
Universal Furniture, said their company successfully
introduced two new collections at Las Vegas Market and
received strong commitments. "The major buyers were at Las
Vegas Market where we saw more participation from the East
Coast than we had anticipated. There was a strong response
from the Top 100 -- the 'who's who' was at Las Vegas Market."
Rob Woods, President of Leggett & Platt/Consumer Products
Group agreed with the quality of buyers stating, "The makeup
of January buyers was by far the strongest we have seen. It
also amazed me that, in the face of a very challenging
economy, buyers were so upbeat. They may have mentioned how
difficult business was, but they didn't dwell on it, and were
eager to discuss, and write orders on new offerings."
International exhibitors had a similar experience.
Canadian-based furniture manufacturer Amisco Industries said,
"We introduced two new product lines at this Market and we
have seen a lot of buyers overall. We are happy with
attendance. This Market has definitely been the best for us."
Nebraska Furniture Mart's General Merchandise Manager Steven
Riley was one of the country's leading furniture retailers in
attendance who noted the ease of attending Las Vegas Market.
"It's easy to work in Las Vegas. We hit nearly every showroom
on every floor," said Riley who brought a team of 11 to
Market. "I saw a lot of new introductions in January's Las
Vegas Market that are strong, including those spotted at
Ashley and Standard." Riley added, "The hotel rooms are a
better value in Las Vegas. It is a very viable market."
More Market Highlights; Green Topped the Charts
From new product to programming, entertainment to inspiration,
cash giveaways to sheer cache -- Las Vegas Market attendees
were treated to one of the most dynamic events in its six-show
history.
Heating up the Winter Market week, attendees checked out the
first ever "Home Furnishings Runway" vignettes -- highly
stylized presentations on display in World Market Center's
atriums which highlighted the complementary nature of
furniture and fashion. Savvy retailer Neiman Marcus partnered
with the Market for this special exhibition which demonstrated
how the fashion runway influences today's interiors.
High fashion inspiration continued throughout the Market
venues with top name speakers, seminars and show-stopping
products. Attendees were in awe of the expanded and elevated
Design & Living area, a juried show-in-show that was larger
and more cutting-edge than ever before. Dramatic white carpet
set off beautiful product presentations of more than 50
trend-setting exhibitors -- an exclusive showcase set to
expand for Summer Market.
The Living Green Pavilion was also especially noteworthy -- a
partnership between World Market Center, Design Green Alliance
and the Sustainable Furniture Council -- which tripled in size
this Market thanks to the industry's embrace of sustainable
products and practices. Further, Las Vegas Market week also
saw introduction of a special presentation series highlighting
education, trends and international influences in the
sustainable home furnishings movement. The weeklong series,
entitled "Brave New World: Environmental Leadership Series,"
allowed Market attendees to develop awareness of best
practices covering all aspects of the industry.
Colorado retailer Ann Fetsch, who owns a Drexel Heritage home
store, says "It's interesting to come to (Las Vegas) to see
the green seminars and see the Living Green section of the
exhibit. Those were advantageous for us. We are just in the
beginning stages of learning about (green). The seminars
sounded very appealing to get some education and to learn
about it. One of the appeals of coming here is the location of
the Market. There's more access to goods and services."
However, not all the "green" was found in the eco-friendly
showrooms and booths at Winter Las Vegas Market. A cool
half-million dollars was awarded at Las Vegas Market via the
first-ever Fashion 500 Runway Rewards promotion, which
identified 10 daily winners in random drawings to take home
$5,000 in cash. On Wednesday, Jan. 30, the grand prize of
$250,000 went to 38-year-old store owner Tim Koerner of Coeur
D'Alene, Idaho-based Koerner Furniture.
Robin Leach, celebrity host to the rich and famous and Las
Vegas resident, was on hand to host the festivities and to
announce Koerner as the big contest winner.
Urged on by Leach, Koerner, who has a successful family
furniture business, attempted to reach his wife by phone from
the stage as the crowd cheered. Koerner has attended every Las
Vegas Market since the July 2005 debut. "I feel very blessed
and lucky," the winner said.
Looking Forward - Building C & D
Buyers and exhibitors alike had something else in common this
Market: the belief that the opening of Building C in time for
Summer 2008 Las Vegas Market will further set World Market
Center apart from other venues of its kind and set the stage
for the future. The addition of 2.1 million square feet of
showrooms on 16 floors -- and hundreds of new exhibiting
companies joining World Market Center -- will mark a turning
point for the three-year-old complex.
"We are at Las Vegas Market for the long term. We see that
World Market Center is the future of the industry," said new
World Market Center tenant Sean Keane, of Conyers, Ga.-based
India House. "When Building C opens, it will be a whole new
ballgame."
With virtually every space in Building C spoken for through
signed leases and commitments, World Market Center officials
announced that the schedule for Building D remains on track.
Construction on the 17-story, 1.1-million-square-foot building
will begin later this year and be completed in 2010. When
Building D opens, World Market Center will encompass more than
6 million square feet, making it the largest wholesale
merchandise mart on a single campus.
Leasing for the fourth tower on the eight-building campus will
allow significant growth opportunities for many sectors of the
industry that World Market Center already caters to. Building
D will expand the line up of furniture and decorative
accessories companies, as well as will foster the introduction
of two complementary and new industry segments to the
burgeoning master-plan: gift and home textile companies.
Maricich says he is anxious to work with World Market Center
developers, management team and staff on accelerating
development for the 12 million square foot campus. Drawn to
the vision of World Market Center's master-plan and the
commitment of its Executive Committee and Managing Partners,
Maricich believes that Las Vegas' unsurpassed trade show
infrastructure and standing as America's most international
city will soon firmly establish World Market Center as the
industry's largest venue in addition to its most inspired.
"This is truly an unprecedented opportunity for me to
contribute to the growth and evolution of the home furnishings
industry on a global scale," Maricich said. "I am blown away
by the commitment and resources the owners have dedicated to
ensure World Market Center exceeds the needs of the industry."
The Summer 2008 Las Vegas Market is scheduled for July 28
through Aug. 1, 2008 at the World Market Center & Pavilions.
Attendees can start booking discounted rooms now at http://www.lasvegasmarket.com/.
About World Market Center
World Market Center is an integrated home and hospitality
contract furnishings showroom and trade complex in Las Vegas.
When fully built, at 12 million square feet in 8 buildings,
World Market Center will be the largest trade show complex in
the world. The $3 billion, state-of-the-art campus will
showcase furniture, decorative accessories, lighting, area
rugs, home textile and related segments, as well as the Las
Vegas Design Center (LVDC) open year-round to the trade. World
Market Center produces the semi-annual Las Vegas Market, held
every January and July, and is the fastest growing home
furnishings trade show in the world. World Market Center is
now leasing the third building to a broad cross-section of the
home furnishings industry.
MEDIA CONTACTS:
Dana Andrew
Vice President, Marketing & Public Relations
dana.andrew@lasvegasmarket.com
(702)599-3060
Andrew Maiden
Public Relations Manager
andrew.maiden@lasvegasmarket.com
(702) 599-3062
CONTACT: Dana Andrew, Vice President, Marketing & Public
Relations, +1-702-599-3060,
dana.andrew@lasvegasmarket.com,
or Andrew Maiden, Public Relations Manager, +1-702-599-3062,
andrew.maiden@lasvegasmarket.com, both of World Market
Center
Web site:
http://www.lasvegasmarket.com/ |
