Las Vegas, NV – The long-awaited merger of the World Market Center and High Point Market created a completely new company and an even greater force and leadership in the home furnishings sector.
The creation of International Market Centers L.P. (IMC) will combine the Las Vegas Market and High Point Market brands. Their shows, however, will continue at the same time frames and sites. “That is something is that is not going to change,” said Bob Maricich, who was named CEO of IMC. “We think the time frames of late January, early February, and late July, early August for Las Vegas is compatible with April and October for High Point.”
The management of the new company was also looking at the feasibility of launching a new stand-alone show for the gift-and-home décor industry in Las Vegas, Maricich said.
Maricich told Trade Show Executive (TSE) the operations staffs for the Las Vegas and High Point events would remain in their current locations although sales for the two brands would be combined. In addition, administrative departments such as human resources and IT would be built from scratch as IMC make the transition from subsidiary to stand-alone company.
The merger, the result of 13 months of complex negotiations, was expected to be approved by a bankruptcy court without much delay. A consortium of investors committed approximately $1 billion to the deal.
The merger puts IMC in charge of 18 show room buildings totaling 11.5 million square feet. There are 170 showroom properties in High Point, NC with IMC owning 14 buildings in the core of the city’s market district. The complexes include permanent furniture show room and temporary space used to host trade shows. Three exhibitions – Las Vegas Market – Fall, High Point Market – April and High Point Market – October –– are listed in the latest TSE Gold 100 rankings of largest U.S. trade shows.
TSE will provide additional details of the merger in the near future.
Reach Bob Maricich at (702) 599-3038 or firstname.lastname@example.org