Rug resources looking to future
By Lissa Wyman -- Furniture Today, August 3, 2008
Las Vegas — Rug exhibitors at last week's Las Vegas Market say they are investing in the future, rather than dwelling on the present. So, although hallway traffic was termed "typical summer market," rug people remained upbeat about the potential of Las Vegas as a venue.
"Traffic could have been better, but we saw a lot of new faces, and that's what this market is about for us," said Reza Momeni, president of Momeni. "It's a fresh start in a fresh city."
The sluggish economy continues to be a leitmotif, but rug executives are making the best of it.
"When people look at a downturn, they see a problem, but we see opportunity," said Amir Loloi, president of Loloi. "We've got to work harder and smarter to have the most creative product line out there. So when things get better, we've got a jump start."
Loloi's attitude was shared by many aggressive rug companies. Although the big Atlanta International Rug Market was held only a couple weeks ago, several companies introduced products geared specifically to Las Vegas.
Couristan introduced several new products especially for the show, said Ron Couri, president.
John Feizy, founder and president of Feizy, said he is optimistic about the Las Vegas Market. There is a lot of positive energy here, and buyers can feel it."
While the rug industry is not doing well now, Feizy said he expects some improvement in the fourth quarter and an upturn in 2009.
For West Coast rug exhibitors, Las Vegas has special home-turf appeal, noted Kami Navid, executive vice president of Los Angeles-based Jaunty. The company currently shows in High Point and Atlanta as well as Las Vegas, and Navid, like many other exhibitors, is not happy with the proliferation of markets.
"People can't afford to go to all the markets, especially under the current economic conditions. As a result, markets have become more regional events," he said.
Lifestyle expert and TV personality B. Smith made appearances at Surya to help promote her new licensed line. President Satya Tiwari said that name-brand licensing will grow at Surya.
Shaw Living saw consistent traffic, said Jim Curtin, national sales manager. "We are seeing many customers for the first time, so this has served as an introductory event for us."
Rizzy Rug & Home showed a mix of rugs, top-of-bed and home textiles as coordinates.
"We're the new kids on the block so now is an opportune time to position ourselves in the market," said Mark Ferullo, vice president of U.S. sales and marketing. "When the economy starts kicking in again, we will be ready for it."
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