World Market officials have something to cheer about. Attendance at the last Las Vegas Market was above the average 50,000 registered, according to market officials. The market also saw an increase in Top 100 retailers.

Some 75 percent of the Top 100 U.S. retailers were registered for the summer market, including R.C. Willey, Haverty’s, Levitz Furniture and Pottery Barn.

“This Summer Market outpaced the expectations among exhibitors, not to mention delivered so many new facets for buyers and designers looking for the latest in products, trends and education,” Dave Palmer, general manager of the World Market Center, said in a statement. “We had a very strong market with terrific traffic and very positive feedback for the overall experience our market delivers for attendees.”  

The Summer Las Vegas Market, which ran July 30-August 3, has been deemed a success by market organizers, but the furniture mart’s future is could be determined by its next two buildings.

High-end furniture manufacturers are crucial to overtaking North Carolina’s High Point Market, according to those in the industry. The just-unveiled plans for Building C amounted to steps in that direction, according to Larry Thomas, the editor of Furniture Today.

“It’s the one thing that the market is missing: leasing to a lot of high-end companies that make furniture, like Lexington and Sligh,” Thomas said.

Building C will take care of some of that with two of the above-named companies. Other tenants in the third building include Mohawk, Mark Roberts and Pacific Lighting.  The 16-story Buildings C is set to open in the summer of 2008, and Building D will follow 18 months after that. There are eight buildings planned for the eventual 12-million-square-foot furniture campus.  

Industry analysts are pointing to the increase in size of Building D as indicator of the market’s strength. The fourth building will be bumped from the original plan of 1.5 million square feet to 2.5 million.

Gifts, furniture and accessories cranked up demand for space in Building D, according to Thomas.

Another challenge to the World Market Center’s plan to gain the furniture crown is the high cost of leasing in Las Vegas, as opposed to High Point. The North Carolina market charges $10 to $20 a square foot, while Las Vegas charges $30 to $35 per square foot, industry insiders said.

By Casino Connection Staff

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