High Point Rug Market Has Fewer Introductions
High Point, NC, Oct. 24, 2008--The High Point Market is meeting or exceeding rug exhibitors' expectations. It has been slow, according to Furniture Today.
The magazine said there are fewer rug introductions than at past markets, but vendors are trying to make the best of the situation, with an emphasis on good value in fresh casual contemporary looks and colors.
"Things are as tough as I've ever seen," Amir Loloi, president of Loloi Rugs, told the magazine. "But we have some unique products and that's what is keeping our business up."
Surya, an aggressive, hard-promoting vertical manufacturer and importer, isn't complaining. The company's Showplace showroom has been packed every day as the company is introducing several licensed and non-licensed lines.
In the past four years, Surya has gradually shifted its position and is no longer solely a rug vendor but also is a source for all types of home accessories. Surya zeroes in on the needs of mid-level retailers who want to present fully coordinated room settings. In addition to rugs, the company has gradually added pillows, throws, wall art and most recently, lamps.
"The economy in general is challenging and very price sensitive," said Satya Tiwari, president of Surya, "but our goal is to simplify the decorating process for our retail customers and ultimately the consumer. It's a big risk, but we can't continue to grow if we keep doing things the old-fashioned way."
Rizzy Rugs, a vertically integrated rug and home textiles manufacturer and importer, has been exhibiting at High Point for only a year, but the company continues to expand.
"We're not here looking for retail customers. We're here looking for retail partners," said Mark Ferullo, vice president of sales. "We know that the natural inclination is to pull in during a down economy, but we are showing 150 new rugs at this market. The retailers who are here want to make something happen that will help get them through the present economic situation, and we're here to help them do that."