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Las Vegas vs. High Point? Chicago, here we come!

Jerry Epperson -- Furniture Today, August 29, 2005

Congratulations to David Palmer and everyone at the Las Vegas market for a professionally run, exciting first market. Attendance was over the top, with a mix of large and small retailers, manufacturers, importers and a contingent of the "should I be there too?" crowd that didn't exhibit at the first show. It's safe to say the Vegas market has been the second-most-controversial topic in recent years, after the antidumping petition.

The exhibitors that took the biggest risks and signed up early with the World Market Center got the greatest reward. Those showing at the Sands, the Las Vegas Convention Center and in the Pavilions (a fancy word for tents) appeared pleased, but those in the main building were grinning ear-to-ear. Many spaces counted over 400 stores on the first day. Please note the words "first day," because the opening day was honored. What a great idea!

Las Vegas attracted not only new retailers, especially from the West, but many new exhibitors as well. Many small to midsized exhibitors had choice showroom locations, giving them the presence, the traffic and the opportunity to have a really great market, especially since many majors didn't show here.

It's been a long time since a market has been entertaining. In days gone by, recliner companies had sports heroes in their spaces, and on Saturday night a star like Ray Charles would entertain at a big party. In Vegas, I got a neck massage and a song from "Cher," and there was a festive mood throughout.

Yes, the weather was hot, but so was the entire East Coast. Traffic was heavy and some lines long, but every major convention has that. For reasons completely unnecessary, the Sands wouldn't honor passes from the WMC and vice versa. Surely, that can be corrected.

Is Vegas a threat to High Point? Not yet, in our opinion. It doesn't have the product breadth nor all the majors — yet. But Las Vegas vs. High Point rhetoric truly is a waste of good brain cells and adds hot air where it isn't needed.

Markets exist to serve the industry — its retailers, manufacturers and importers. The way some talk, it's like the industry exists to serve the markets or, more specifically, the market buildings. Both High Point and Las Vegas have strengths and, in many ways, they are complementary.

In an ideal world, a single industry group would set dates for regular East and West Coast markets, including premarkets, if the latter continue to be necessary. Tupelo and specialty markets for outdoor furniture and other categories could fit in, as best serves retailers and their needs.

And please stop all this arguing or we'll move the market back to Chicago.

Id: 4022

Author Information
W.W. "Jerry" Epperson is a managing director of Mann, Armistead & Epperson, 119 Shockoe Slip, Richmond, Va., an investment banking and research company that specializes in the furnishings sector. The company is affiliated with Ferris, Baker Watts, a full-service brokerage headquartered in Washington.
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