UBM Asia to Acquire Shanghai Urban Fashion Show
UBM’s subsidiary, UBM Asia, announced an agreement has been made with NOVO Mania Limited to acquire the Shanghai urban fashion event, NOVOMANIA. The deal will see UBM owning 60% of UBM Novomania, a newly formed joint venture that will organise NOVOMANIA beginning in 2013. Other financial details of the deal were not disclosed.
The general manager of NOVOMANIA, Guilherme Faria, and his team will be incorporated into the UBM China (Shanghai) office, and report to the board of UBM Novomania. The previous edition of NOVOMANIA was held at the Shanghai World Expo Exhibition & Convention Centre in March 2012. The show occupied 25,000 m2 of gross exhibition space and welcomed 117 exhibitors from 13 countries and over 13,000 visitors.
NOVOMANIA is an annual fashion trade show launched in 2010 by the NOVO group of companies, a retailing and fashion conglomerate based in Hong Kong, and partner Focus Workshop. Product categories exhibited at the show include Denim&Urban, Sports&Street, Shoes&Accessories, Fashion&Chic and Contemporary&Premium.
Jime Essink, president and CEO of UBM Asia, said, “China is already the second-largest apparel market in the world and is set to surpass the U.S. to become the world’s largest market in a few years. This joint venture continues our strategy of focusing on sectors and markets with the most exciting growth potential.”
This year’s NOVOMANIA will be held from 17th to 19th July at Shanghai Mart.