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Billion-Dollar Furniture Industry Has a Home Downtown | Business

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Billion-Dollar Furniture Industry Has a Home Downtown
Billion-Dollar Furniture Industry Has a Home Downtown

 

Starting January 30, buyers for Neiman Marcus, Macy's, Haverty's and furniture stores around the world come to buy what's inside the showrooms at World Market Center.

That week alone generates $200 million in non-gaming revenue for the Las Vegas economy.

World Market Center and its geographic archrival, High Point, N.C., recently held millions of dollars in debt. Last May, they merged in a billion-dollar deal to keep them both afloat and to provide more markets for buyers and decorators around the world.

Last year, the Las Vegas Design Center at World Market Center added 13 showrooms and dozens of permanent and full-time jobs. When it first opened in 2005, World Market Center was only open to decorators and designers, with two public days a year, but it’s now open to everyone five days a week.

"A lot of our business is really done to the year to the public because people can come in (and) they can buy something right off the floor,” said Elaine Odeh, President of Plume Luxury Furniture Samples. “You're not waiting 16 weeks for delivery. Everything is brand new. If anything has any defects, we have a shop, we repair, so you're not looking at used furniture or consignment.”

While many of the showrooms have pricey pieces, many companies like Plume’s sell at below-wholesale prices. Some deals run as low as $4. The majority of furniture, lighting, art and decor sold goes into homes.

The furniture industry west of the Mississippi River generates $33 billion a year.

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