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75% Of Top US Retailers Attend Las Vegas Furniture Market; Coaster To Triple Space Size
08-09-07
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Coaster, Standard and AICO will move to larger spaces in the new Building C. Coaster will go from its current 13,429 square feet to 50,000 square feet.

75 percent of the Top 100 U.S. Retailers were registrants of the Summer Las Vegas Market.

The Summer Las Vegas Market held July 30 through August 3, was the largest Las Vegas Market to date, occupying more than 3.8 million square feet and surpassing the historical average of 50,000 registered attendees.

Dave Palmer, General Manager of World Market Center, said, "We had a very strong Market with terrific traffic and very positive feedback for the overall experience our Market delivers for attendees."

75 percent of the Top 100 U.S. Retailers were registrants of the Summer Las Vegas Market. According to Fort Lauderdale, Florida-based City Furniture, President Keith Koenig said, "Las Vegas continues to rise," pointing to the construction work on Building C. "With this new building, it's going to attract more and more."

Las Vegas Market continues to see an influx of new buyers as well, with more than 10,000 retailers and designers attending Las Vegas Market for the first time.

The Summer Market also featured a strong global flair. In comparison to July's 2006 Market, international attendance increased by 27 percent, representing 90 countries that participated at the Market. The worldwide roster of exhibitors included 205 companies from 25 different countries.

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Las Vegas Market also expanded participation of new companies by enlisting a compelling 250 companies from the U.S. and around the world who joined the Market for the first time last week. "This is our first show and it has been incredible," said Jeff Schmidt of Millenio, El Mundo de Carlos de Anda.

Tenants and exhibitors confirm brisk traffic and strong order writing, exceeding expectations for Summer show. "We wrote big orders and lots of them," said Bill Benton, President of Powell Co. "We stayed busy all week."

Ed Grund, C.E.O. of case goods importer A.R.T. Furniture was extremely satisfied stating, "The best news is the major players are here and that is great. I am seeing more new customers at this show than in previous ones."

Ashley Furniture's Chairman Ron Wanek said his team saw "lots of interest in new product and lots of orders placed." He added the July Market was much stronger than last July for the company, since it only opened its second and larger showroom in Building B at World Market Center in January. "We know that it's going to be a powerful market," said Wanek. "It's a high-quality place to come."

Jeff Cook, President of Broyhill Furniture, said, "Any previous numbers we had were blown away with this market. People are coming here not just to visit, they're here to do business."

The Summer Market featured the successful debut of the Design and Living Pavilion, a juried showcase of new companies whose product presentations were set against a dramatic white backdrop. The fashion-forward presentation stimulated buyers and designers in search of the hottest trends and cutting edge designs from around the world. Of the 72 companies that made up Design and Living, 68 percent were first-time exhibitors and 51 percent were from outside North America.

Sands Expo was home to the first-ever "Living Green Pavilion" and "Greenhouse Gallery," featuring the most talked-about movement in the home furnishings industry today: sustainable furniture. The inaugural Living Green Pavilion -- complete with complementary educational events and even a Green Party, became the most comprehensive presentation of new sustainable products available to independent home furnishing retailers looking to progress in that category.

"I think World Market Center has become one of the biggest stages for showing products and sustainability is very important to me," said John Stein, owner of Cardiff, Calif.-based Organo Natural Furnishings. "To see World Market Center taking that so seriously, it shows there's potential for change in the furniture manufacturing world."

Einar Elsner, executive vice president of South Cone, said that increasing demand among retailers and consumers and the draw for the new Living Green Pavilion were among the reasons South Cone decided to exhibit at Las Vegas Market. "Our target customers are retailers and interior designers who understand the difference between 'furniture as commodity' and furniture as the antiques of the future. We expect Las Vegas Market to increase our exposure to these prospective clients."

Excitement escalates at World Market Center with successful leasing underway for Building C; Construction on schedule for July 2008 opening.

Those in attendance at the July Summer Market had the chance to check out World Market Center's ever-evolving campus first-hand -- with a third showroom building reaching skyward. The $550 million architecturally iconic Building C will stand at 16 floors with 130,000 square feet on each floor which is nearly 30 percent larger than those in Buildings A and B. In all, more than 400 showrooms are anticipated for Building C. In conjunction with the opening of Building C, a $60-million, seven-story parking garage with 175,000 square feet on each level will also open. The parking garage will accommodate 3,600 vehicles and allow for up to 15 levels.

With virtually every space in Building C spoken for through signed leases and commitments, the contemporary designed building, featuring red sandstone and metal and glass panels that reflect the changing colors of the desert, sun and sky, will be ready for the July 2008 market. Some of the major furniture exhibitors prepared to move in will include Lexington, Sligh, Huntington, Canadel and Avenue Six, all of whom will have permanent showrooms in Las Vegas for the first time.

In addition, three major exhibitors in Building A -- Coaster, Standard and AICO -- will move to larger spaces in the new Building C. Coaster will go from its current 13,429 square feet to 50,000 square feet, while AICO will grow from 22,000 square feet to 55,000 and Standard from 19,000 square feet to 33,000.

The top five floors of the new building will be devoted to furniture, while the 10th floor will house lighting showrooms and the ninth floor will have showrooms for holiday, floral and seasonal merchandise. Floors six, seven and eight will be devoted to home accents, decorative accessories and rugs, and the first five floors will be an expansion of the Las Vegas Design Center, where spaces are open throughout the year and cater to interior designers.

The Winter 2008 Las Vegas Market is scheduled for January 28 to February 1, 2008 at World Market Center's Buildings A, B and Pavilions and tradeshow at the MGM Grand Hotel.

 

RTO Online is the official channel for Rent-to-Own Industry News and the only independent source of news for the rent-to-own, rental-purchase, lease-purchase trade. RTO Online (Rent to Own Online) represents the choice of the entire RTO Industry for trusted information, as it happens.

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