World Market Center Reports High Opening Day Attendance

Furniture World Magazine

World Market Center Las Vegas announced that attendance and optimism were off the charts during September Market’s opening day at World Market Center Las Vegas. They reported registration numbers that are higher than they’ve been during the last five consecutive markets, and international manufacturers have nearly doubled since the previous Market. “It’s quite remarkable that we have generated an increase in buyer and designer registration in this economic environment," said Robert Maricich, President and Chief Executive Officer of World Market Center Las Vegas. “It’s a new world, in which the industry has to go beyond the trade focus, and directly engage consumers. Our unique marketing and new initiatives aim to do just that, and buyers and designers are excited to be a part of it.” During this September 14-17 Las Vegas Market, 94 percent of World Market Center’s 1,400 exhibiting companies and lines have launched new products. Farooq Kathwari, chairman, president and CEO of Ethan Allen, said he could feel that enthusiasm in every aspect of opening day. “There is an attitude that this market exudes. It is really very impressive. You feel it in all of the Market’s communications. It captures the world’s interest and attitude toward good design.” Seventy percent of the products at Market will be available for immediate shipment—a near-necessity right now, with low inventories and a strong need for retailers to bolster supply caches. According to Maricich, it couldn’t come at a better time. “People are sick and tired of being sick and tired,” Maricich said. “Inventories in the entire furnishings pipeline are at unprecedented lows, and any retail activity will flow through the entire supply chain. In light of these conditions, our first September Market has turned into the ‘perfect storm’ of timely supply meets enthusiastic demand. Particularly for those manufacturers with new products, specials and immediate shipment, I expect they will be favorably positioned to quickly respond to the opportunity.” Rob Sligh, chairman of Sligh / Loft 102, said he and other exhibitors are on the lookout for new beginnings. “Difficult market conditions forced dealers and all of us to develop creative ways of generating profitable sales,” Sligh said. “In many cases retail inventories are finally depleted. Dealers are buying into fresh ideas, and are ready to sail out of the doldrums and into a freshening breeze.” Dan Bradley, president of Henredon, said he has seen that hunger firsthand. “We're introducing a few new collections at Las Vegas Market,” said Bradley. “We have many more appointments than last market.” Ron Wanek, chairman of Ashley Furniture Industries, said, “Market is going great and beating our expectations. Everyone is in a good mood and buying, so we are happy. Buyer traffic in the showroom has been outstanding.” In conjunction with Market, World Market Center Las Vegas declared September the start of the first National Home Furnishings Month (NHFM) and the launch of the “Is It Home Yet?” campaign’s homeyet.com, as a way of encouraging consumer spending. Maricich said World Market Center decided to invest its own resources in jumpstarting the industry. “Other industries have invested in large scale consumer-facing marketing initiatives such as ‘a Diamond is Forever’ and ‘Got Milk?’ It's time for our industry to have its own unique marketing platform.” National Home Furnishings Month includes a key retail period September 19-27, when retailers are encouraged to offer special sale events to take advantage of consumer interest generated by the campaign. Steve Dehaan, executive director of the National Home Furnishings Association, said that NHFM has brought a new awakening to local retail business. “I get phone calls from retailers who thank World Market Center for being first in taking this important step. They were looking for something that would drive traffic after Labor Day, and World Market Center and NHFM provided that,” Dehaan said. “We really appreciate World Market Center Las Vegas stepping up and providing help at a time when we really needed it. It dovetails perfectly with what retailers tell us they want. There is a lot of enthusiasm out there, and I haven’t seen that in a very long time.” Jeff Hiller of Sustainable Furnishings Council also applauded World Market Center's leadership in developing the NHFM concept, which he described as forward-thinking, grand in scope, and collaborative, “exactly what we need, exactly when we need it.” He added that launching with an extended promotional event period like NHFM is a brilliant kick-off strategy. “The timing is perfect. Retailers make all their money in the fourth quarter, and it all starts with Labor Day. Instead of just carrying over holiday specials for two weekends, this promotion book-ends the entire month of September, creating many more sales opportunities.” Monica Pederson, designer on HGTV’s “Designed to Sell” and the spokesperson for National Home Furnishings Month said the “Is it Home Yet?” campaign is derived from the very question that industry insiders ask. “As designers we go into peoples’ houses and we make their house a home. ‘Is it home yet?’ is the question we ask,” she said. “When they say yes I know I have done my job.” Retailers should take this opportunity to ready themselves, Pederson added. “People are staying put, so it’s the perfect time to decorate.” She and other insiders predicted an upcoming surge in sales. Pederson will be on-hand during market week sharing tips and generating awareness of the nation-wide campaign. Showroom expansions, renewals and new exhibitors have also demonstrated extraordinary growth for September Market, reinforcing the commitment to Las Vegas Market as a platform to grow their businesses. World Market Center Las Vegas welcomes 17 new permanent tenants, 12 expanded showrooms, 300 new and returning temporary exhibitors and 100 permanent tenants have renewed their leases, with 26 of them relocating. Internationally speaking, manufacturers from abroad have nearly doubled, and September Market is the largest presentation of global suppliers and brands exhibiting in Las Vegas, to date. World Market Center Las Vegas is particularly proud to host the worldwide debut of Italiano Classico exhibition. Thanks to a continued partnership with Fiero Milano, the prestigious exhibit will be on display at Las Vegas Design Center through February. After working hard all day, attendees also got to play hard. Las Vegas headliner, illusionist and Showtime series co-star, Penn Jillette, of famous Penn and Teller duo, entertained the boisterous crowd with his signature sleight-of-hand, peppered with comic banter. His performance was followed by a swinging concert by the Brian Setzer Orchestra. The three-time Grammy-winning “King of Swing” invited Market-goers to “Jump Jive An’ Wail” the night away during this free show. It was an energizing start to a fully loaded week that aims to ensure that the industry is well prepared when the market rebounds. In order to do so, September Market is offering targeted speakers, exhibits and events to educate and prepare attendees for the economic recovery. They will even have the opportunity to meet one-on-one with loan officers from the U.S. Small Business Association (SBA). Other highlights for the week include the return of the internationally acclaimed One Good Chair competition and the inaugural Icons of Design, honoring 20 of the world’s most extraordinary designers and architects. In addition, the lineup includes a Money Market seminar, Mexican Independence Day celebration and a presentation by Howard Putnam, formerly of Southwest Airlines, addressing survival in turbulent times. “Just as spring follows winter we will get through these tough economic times," Maricich said. “We are playing to win and are positioned for success,” said Maricich. “When it does turn around it won't be a little uptick in business. We are prepared for a rocket ship.” September Market is a small taste of what’s to come. Maricich announced Monday that three new shows are planned for 2010: InspireDesign is a hospitality show that will launch with the February Las Vegas Market and VegasKids and Gift + Home will launch in June. “Fast forward to the future and it’s possible we could have nearly a dozen shows on our campus,” Maricich said. “The value for someone being a permanent tenant here is magnified.” The September 2009 Las Vegas Market is scheduled for September 14-17, 2009 at World Market Center Las Vegas. Attendees can still register and reserve discounted rooms online now at www.LasVegasMarket.com. About World Market Center Las Vegas World Market Center Las Vegas is an integrated home and hospitality contract furnishings showroom and trade complex. The state-of-the-art campus showcases furniture, decorative accessories, gift, lighting, area rugs, home textiles and related segments, as well as the Las Vegas Design Center (LVDC), now open daily to consumers along with their designers. World Market Center currently hosts the preeminent Las Vegas MarketTM biannually in February and September. World Market Center will debut InspireDesignTM in February 2010 for manufacturers and companies serving the hospitality design marketplace. And Gift + HomeTM show launches in June 2010, catering to the gift, decorative accessory and seasonal industries along with Vegas KidsTM which will provide youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift. For more information on World Market Center Las Vegas, visit www.LasVegasMarket.com.