LAS VEGAS–Bob Maricich, president and chief executive officer of World Market Center, sent a letter to exhibitors of the Las Vegas Market yesterday, touting the milestones achieved at the January market and pledging his commitment to drive new buyers to the market. The letter follows a petition that was circulated among WMC tenants to urge show management to lower rents, common area charges and other fees:
Dear Las Vegas Market Tenants and Exhibiting Companies:
As one of the 1,200 valued exhibitors at Las Vegas Market, I want to thank you for helping to make my inaugural experience as President and CEO a record-setting one. There was a truly exceptional energy level felt at the January 2008 Las Vegas Market by exhibitors and buyers alike. With your support, we were able to achieve a number of significant milestones at this past Las Vegas Market—and I’d like to share just a few:
• Total registrations well exceeded the historic 50,000 average, and included registrations from more than 100 countries—on par with January 2007’s mega Market, which featured the opening of Building B.
• Twenty-three percent more buyers than July ’07 Market, and 6 percent more buyers than January ’07 Market.
• Eighty-three percent of top 100 U.S. retailers attended, which marks the largest influx of national buyers compared to the last five Las Vegas Markets.
• Non-U.S. attendance was up 20 percent over the last market, with nearly 60 percent more international buyers.
• Attendance from the Eastern region of the United States was up 28 percent from last market, which when combined with the international presence, confirms this is not just a national event, but indeed an international Market.
• More than doubled the attendance of interior designers, dramatically increasing the base of high-end buyers coming to Las Vegas Market.
• Thousands of new buyers attended Las Vegas Market for the first time this January, resulting in new buyers for all exhibiting companies.
These results serve as compelling testimony to the strength and long-term sustainability of Las Vegas as the center for future industry growth. They are even more remarkable in light of the difficult economic conditions in which both retailers and manufacturers are currently operating. That having been said, I realize that while a majority of our exhibitors and tenants posted impressive gains, some did not see the same results. You can rest assured that my team and I are committed to partnering with you to drive new buyers to Las Vegas Market, expand your channels of distribution, and deliver the best market value and experience our industry has to offer. In doing so, we are prepared to invest unprecedented resources into progressive marketing programs, promotions, entertainment and events that will enhance the experience for attendees and ensure your success in Las Vegas, year after year.
With retail decision-makers choosing Las Vegas—not to mention 86 percent of buyers purchasing as much or more at Las Vegas Market than any other Market—Las Vegas clearly represents the future.
I welcome input from each and every tenant, and am committed to working with you to continually improve your company’s results and ensure World Market Center delivers on your expectations.
I look forward to seeing you in July as we welcome hundreds of new permanent tenants to Las Vegas and celebrate a significant milestone—the Grand Opening of Building C. This will be a watershed event for World Market Center, with over 5 million square feet of space open for business in a short three-year period since our debut in 2005. It will undoubtedly set a new standard for markets, while inspiring and reinvigorating the home furnishings industry in exciting new ways.
Thank you again for making Las Vegas Market a success and for your continued support.
Best Regards,
Bob Maricich
President and CEO
World Market Center Las Vegas