Vegas uptick a promising sign
By Clint Engel -- Furniture Today, February 15, 2010
LAS VEGAS —
Many suppliers showing at the February market here reported better traffic and business over a year ago, perhaps another sign that the economy has finally taken a turn for the better.
Most sources contacted for this story reported showroom traffic increases of about 10% or better and, in some cases, orders were up by even greater rates.
At AICO, for instance, which introduced four collections — including three as a collaboration between founder and CEO Michael Amini and actress/artist Jane Seymour — attendance was up 9.2% from February and nearly 20% from the September market here. Orders were still coming in, but by early last week they were up 47% from a year ago, said Martin Ploy, executive vice president.
And that doesn't include major commitments from large retailers who don't usually place orders at market, he said. What's more, the business was distributed well throughout AICO's showroom.
“It's not just Hollywood Swank and Cobblestone Road and Palace Gates (The Amini/Seymour collections),” Ploy said during the market. “The excitement is carrying over to the rest of the showroom.
“I think retailers are starved for new looks. They're trying to position themselves for the recovery,” he said. “Their inventories are low and their products are stale,” and the slow climb in business is now helping them with cash flow.
Case goods manufacturer Sunny Designs met with 594 dealers, up 40% from the February 2009 show. Officials attributed that to the word-of-mouth attention the company has received and its growing reputation for quality product and service. While some of the traffic was from new accounts, the bulk was from existing dealers, especially those from west of the Mississippi.
“For our existing dealers, it looks like we have become a destination for them,” said Hokeun Lee, company marketing director.
He and company President Sunny Hwang said buyers were upbeat, and that Sunny Designs had record order-writing during the week.
Leggett & Platt's Consumer Products Group reported visits from 627 dealers, a 15% increase in traffic from last February. Traffic was particularly strong the first two days of the show, and then tapered off.
“We targeted select retailers, reached out to them and invited them to visit our showroom to check out our new products and programs,” said Vice President of Sales and Marketing Herman Tam via e-mail. “Apparently that worked.”
He also said he believed improved economic conditions helped fuel the rise in attendance.
John DeFalco, executive vice president of importer Primo International, estimated traffic was up about 10% over a year ago and orders were up about 20%, thanks in part to some big sales to key retailers.
“Monday through Wednesday were outstanding,” he said, noting that Primo saw “an excellent cross section of dealers from big to small.” He said traffic was busiest Monday through Wednesday, although a number of West Coast buyers came in on Thursday as well, and international buyers were visiting as late as Friday.
Primo did well in all of its categories, including motion upholstery, where it introduced a new line of fabric sofas that could retail for about $599 but also have “a name-brand look and quality” that will allow dealers to mark them up more for better-than-average margins. Same goes for bedding, where Primo drew attention with an update to its Dream collection of memory foam mattresses at step-up price points.
Bryan Edwards, vice president of sales, Eastern region, for Aspenhome, was among those who noted a change in attendance patterns here this time.
“We're seeing our larger customers (meaning Top 100 companies) in better numbers, but overall attendance seems to be trending down,” he said.
However, vendors in the Western Home Furnishings Assn. and National Home Furnishings Assn.'s Retailer Resource Center said they were pleased with the consistent traffic and said retailers were ready to purchase new products, the WHFA said.
“The RRC saw great traffic during the week and it is apparent that buyers are optimistic about the upcoming year,” said Sharron Bradley, WHFA executive director. “Many of our vendors said that this has been one of the best markets they have had in years.”
Jim Ziozis, president of Linon Home Décor and Powell, said he was “pleasantly surprised” with traffic in the Linon showroom, particularly with the number of high-end retailers and multi-channel retailers.
“The amount of time our customers spent shopping our goods led me to believe we were there with the right looks at the right prices,” he said.
Powell, meanwhile, has undergone changes since its acquisition last year by Linon's owners.
“This market was really the first one for the new Powell and we are able to come to market with both new looks and new value-driven price points. We were busy and we wrote lots of orders,” said Dean Crue, the company's executive vice president.
Stein World CEO Richard Olmeda also was pleased with the market's outcome. “From the orders we wrote, we really got the sense from our retailers that business is improving and that they needed well-designed, well-priced inventory,” he said.
Several retailers here gave high marks to what they saw, with AICO's Amini/Seymour collection, Lexington Home Brand's new Tommy Bahama Home collection, Ocean Club, and the World Market Center's wealth of bedding offerings garnering repeated praise.
Mike and Eddie Massood of Fairfield, N.J.-based Home Furnishings of New Jersey praised both the Tommy Bahama intros and the glitzy Amini/Seymour collection Hollywood Swank.
“It's different, and you know what? That's what we need,” Eddie Massood said about the AICO line. “We need to get people excited. Thomasville's best intro ever was when we truly romanced Bogart before it ever hit,” and AICO was doing the same with its new products, he said.
Associate Editor Thomas Russell, Editor-in-chief Ray Allegrezza and News Editor Jay McIntosh contributed to this story.
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