Bob Maricich, a veteran of more than 20 years in the furniture business, was recently named the new president and chief executive of the World Market Center. He spent the last 11 years at Century Furniture in Hickory, N.C., most recently as president and chief executive.

In his first in-depth interview since taking over, he discussed his vision for the World Market Center and the future of the furniture industry.

Maricich said he came to the World Market Center because he was ready for a new challenge. He feels his experience in the furniture industry, coupled with his desire to do something new while utilizing the skills he has acquired, make him the right person to lead the World Market Center.

"Essentially, I sat on the other side of the table for 25 years, so I understand how to create value for our exhibitors," Maricich said. "I think the biggest surprise for me was not only the resources that are here, but the resources that are planned. There is just nothing like it in the last 100 years in the furnishings industry."

He sees his role as the coordinator of a vision that was clearly defined at WMCs inception and is now ready to be executed.

"That execution comes in the form of bricks and mortar, in terms of the physical project that we have here," Maricich said. "It comes in the forms of intellectual capital in the people that we pull together to market that and develop events that are relevant to our customers."

He admits that the concept of developing a good idea, hiring good people and letting them do their jobs sounds a little like a cliche, but insists it is an accurate description of the World Market Center strategy. "This is so much more than a real estate project or just another furniture market," he says. "It's a vision of being a true world market center and possibly changing the perception of furniture across the globe."

When the World Market Center complex is completed in 2012, all segments of the home furnishings industry will be represented on one mega-campus. The center will have more than 12 million square feet of state-of-the-art exhibit space in eight buildings on 57 contiguous acres.

At that time, Maricich says, the World Market Center will be uniquely positioned to capitalize on the changes that are currently taking place in the industry.

"You look at those resources and you add in the incredible changes that are going on in the furniture industry and it's a ripe time to make a difference," Maricich said. "I believe the furniture industry is going to be incredibly different 10 years from today than it was a few years ago, all to the benefit of Las Vegas and World Market Center.

Virtually every element of the industry, Maricich says, is in the midst of changes brought on by globalization, changes in channels of distribution and changes in retail business models.

As a result, he anticipates all of the businesses that make up the links in the furniture supply chain will need to alter their business strategies to remain relevant.

"It comes down to how you make your product, how you market your product, how you show your product and how you bring buyers together," Maricich said. "We're kind of at the confluence of all of those things."

One indication of how well the World Market Center concept is working, Maricich said, is the recent Winter Market. Much of the event, which took place at two different venues and included several new exhibits, and a series of seminars and other events conducted over a five-day period, was organized while the company was without a CEO.

Harvey Dondero, Maricich's predecessor, resigned in August of 2007 after less than a year on the job. Despite the unexpected departure, WMC chose to conduct an extensive search for a replacement, rather than rush to fill the slot before the Winter Market.

It seems that was the right decision as WMC managed to snag a high-profile executive from a rival market and feedback from exhibitors and buyers about the market was overwhelmingly positive.

There were some concerns raised at the market, but they mostly focused on the negative effect the residential housing slump and the shaky economy are having on the furniture industry.

Maricich said the concerns are legitimate, but believes the industry will weather the current storm. He says the downturn could, however, force companies to make some tough choices that might ultimately redefine the industry.

Companies with long-time investments in the Southern United States have traditionally been loyal to that region and the market in High Point, N.C., has long been an industry leader.

Several factors, however, including the emergence of the World Market Center, strengthening international markets and a population shift to the West, seem to have shaken that loyalty.

"You've got a lot of people in North Carolina hanging onto a flawed business model and change is painful," Maricich said. "Outside of North Carolina you don't have that historical anchor and investment. There's an openness that is more readily apparent."

Maricich points to an increase of more than 60 percent in the number of international visitors at the recently completed Winter Market here, as an example of this.

It's possible, perhaps even likely that companies unwilling to change with the times could fall by the wayside while those more willing to roll with the punches could seize the opportunity to explore new markets.

While Maricich admits the industry may not be able to sustain markets on both coasts, he says the goal of World Market Center is not to run High Point or any other market out of business.

"I think our job here is to create the most compelling global market and time will tell," he said. "If we are in a recession and we might be in home furnishings, people are going to have to look with a very close eye at their expenditure and it may force some of those 'either or' decisions. It's part of my job to make sure that this is such a positive opportunity for growth that for those that say it's 'either or' - we win that."

Maricich will not do that by micromanaging. He says that's never been his style and that approach would not ft the business model that has been put in place here.

"It's very much a team-oriented management style and a consensus management approach." Maricich said. "I think I've got a career with a hallmark of hiring high-quality people."

Maricich got a ringing endorsement from the executive committee at World Market Center, which includes founders Jack Kashani and Shawn Samson as well as Ron Wackrow and Michael Brenner of Related Companies.

Buyers and sellers converge on the World Market Center in January 2007 for the biannual show of furnishings. STAFF FILE PHOTO

"Bob represents what World Market Center is all about," Wackrow said. "He personifies the cutting edge, energetic spirit of World Market Center."

Despite that endorsement and a solid business model, Maricich knows there are plenty of challenges ahead.

The rising construction costs in the valley and soft economy have a lot of developers looking to scale back projects, but Maricich said there are no plans to alter the current development schedule.

World Market Center also faces battles on two fronts over naming rights.

Cost Plus has challenged the center's use of the "World Market" name, contending that it has been using that name for more than a decade. Meanwhile, World Market Center has launched a similar challenge against the World Jewelry Center, which will be located at nearby Union Park.

Maricich said World Market Center intends to vigorously defend its naming rights, as the company has more than $1 billion invested in the brand and now has name recognition within the industry.

As for the industry that feeds the market, Maricich sees some tough times ahead, but says historically, it has been remarkably resilient.

"My guess is 2008 is going to be a really tough year for furniture manufacturers and furniture retailers," he said." "But the industry has only seen five significant downturns in the last 30 years, so that's really not too bad."

There's no question that luring Maricich from North Carolina to Las Vegas represents a coup for the World Market Center.

When a widely respected industry leader makes such a high-profile move, it just adds credibility to the perception that the market base is shifting.