MAGIC Marketplace's Advanstar Global Acquires ENK International
Advanstar Global, parent company of the biennial MAGIC Marketplace fashion shows, has acquired ENK International, owner of 14 high-end trade show fashion brands, including ENKUSA, ENKVEGAS, Fashion Coterie, Intermezzo and Sole Commerce.
This acquisition adds to Advanstar’s existing events portfolio with shows such as MAGIC, PROJECT, FN Platform, Licensing International, among several other events and conferences.
Terms of the deal were not disclosed.
“Having ENK, MAGIC and PROJECT within the same family of companies provides the fashion industry a choice of intimate and customized environments that satisfy their market needs,” said Joe Loggia, Advanstar Global’s CEO.
He added, “This allows us to be more responsive to our customers as we work to coordinate dates and venues, which makes the process more valuable for exhibitors and retailers. Moreover, Advanstar Global has made significant investments in new technology that will enable our company to further drive value, service and solutions across the entire fashion marketplace.”
Advanstar Communications and ENK International will continue to operate separately, according to Advanstar officials.
Private Equity firm Forstmann Little bought a majority interest of ENK International in 2006, and the company has been for sale since Ted Forstmann died last year, according to press reports.
ENK’s founder, Elyse Kroll, left the company earlier this year and since then its president, Tom Nastos, has been at the helm.
Advanstar Global’s financial sponsors include Anchorage Capital Group LLC, Ares Management LLC and Veronis Suhler Stevenson.
Both Advanstar and ENK shows will have the opportunity to utilize the new “Shop the Floor” digital solution, on tap to launch in early 2013.
Shop the Floor combines the power of personal connections with the convenience of an online marketplace and will create fashion’s largest digital business network, according to Advanstar officials.
The acquisition of ENK has the support of leaders and brands in the industry.
“The evolution of MAGIC, PROJECT, and ENK will form the most comprehensive collection of tradeshows serving every major fashion segment,” said David Witman, GMM Menswear, Nordstrom.
He added, “As retailers, we benefit from expanded access to all of the key brands, diversity of in-market offerings, and a more impactful experience. It’s the smart thing to do for our industry.”
Jeff Rudes, founder and CEO of J Brand, said, “The combined talent driving this initiative will create the best show space in our industry. We support it and look forward to an evolution of concept and a curated experience that will help us anticipate trends and drive growth in our business through broader access to key retailers.”
In August, MAGIC Marketplace attracted some 81,000 attendees and more than 4,000 exhibiting companies, according to show organizers.
Last February, the biennial show spanned approximately 800,000 square feet and saw around 60,000 attendees and 3,800 of exhibitors.