A Look Inside Advanstar's Buy of ENK International with Joe Loggia
If timing is everything, then Advanstar Communications chose the perfect moment to expand its fashion trade show portfolio with the recent purchase of ENK International.
Advanstar’s MAGIC International already dominated in several market segments – such as footwear, men’s, boy’s and women’s junior – to name a few, and ENK’s show group brought in not only overall women’s wear, but also the East Coast, where several ENK shows are held, according to Joe Loggia, Advanstar Global’s CEO.
A deal to acquire ENK made sense, he added, since some retailers and exhibitors previously had to make a choice at times between the two alternatives of shows run by either Advanstar or ENK.
Now, though ENK and most of its shows will be run separately from Advanstar, some of them may be combined.
For example, ENK’s WSAShow, a biannual event held in Las Vegas, will run just a few weeks before MAGIC this year, which launched its own robust footwear section, FN Platform, a few years ago.
“What will happen is you will see some pieces put together and some kept separate,” Loggia said, not talking about any show specifically.
Each show will be looked at to ensure they have a strong value proposition for the industry, he added.
Advanstar’s fashion show portfolio includes shows such as MAGIC, PROJECT and FN Platform, and with ENK brands, the addition of ENKUSA, ENKVEGAS, Fashion Coterie, Intermezzo and Sole Commerce, among others.
“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,” Loggia said.
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.”
One of those new technologies is the “Shop the Floor” digital solution, which is on tap to launch in early 2013.
“Every exhibitor will have their own digital showroom,” Loggia said. “Shop the Floor will be a place for retailers to come and shop the market before the show.”
Shop the Floor will open to retailers 30 days before MAGIC’s showfloor, stay open during the show and remain open for 30 days after the show.
“Shop the Floor will allow retailers more time to get their job done,” Loggia said.
Retailers will have the opportunity to shop the floor by categories, create look books and choose early on what they want to buy.
“It will create a 60-day value equation,” Loggia said. “People will still need to come to the show to … touch the merchandise.”
Overall, Advanstar’s buy of ENK is positive for the industry, he added, “It’s really about expanded access, expanded reach. It’s about allowing brands to have once voice to retailers and retailers to have more access to information and dealing with a company with deep resources.”
Advanstar Global’s financial sponsors include Anchorage Capital Group LLC, Ares Management LLC and Veronis Suhler Stevenson. Terms of the deal were not disclosed