UBM Asia announces that it has signed a binding agreement with NOVO Mania Limited, the organiser of NOVOMANIA, to acquire this annual urban fashion event in Shanghai. Upon completion, UBM will own 60% of a joint venture company, with NOVO Mania Limited, called UBM Novomania, to organise NOVOMANIA from 2013 onwards.
NOVOMANIA was launched in 2010 as an annual urban fashion event by the NOVO group of companies, a retailing and fashion conglomerate based in Hong Kong that operates and distributes over 50 international brands and has stores across 45 cities in China, and one of its partners, Focus Workshop, an innovative full service agency in China with expertise in luxury brands in beauty and wellness, fashion, real estate and FMCG.
By bringing together designers, brands, buyers, distributors, retailers, franchisees, department stores, mall operators, real estate developers and the media, it creates a platform for introducing retail concepts to international brands which are seeking to enter the China market and for providing new business opportunities for domestic brands.
Showcasing the latest trends in major areas of urban fashion such as Denim&Urban, Sports&Street, Shoes&Accessories, Fashion&Chic and Contemporary&Premium, NOVOMANIA held at the Shanghai World Expo Exhibition & Convention Centre in March 2012 occupied 25,000 gross sqm of exhibition space and welcomed 117 exhibitors from 13 countries and over 13,000 visitors. This year, Novomania will be held from 17 - 19 July at Shanghai Mart.
Jime Essink , President & Chief Executive Officer of UBM Asia said:
"China is already the second-largest apparel market in the world and is set to surpass the US to become the world's largest market in a few years. We are very pleased to partner with NOVO Mania Limited in the development and growth of this cutting edge fashion event targeted at the very rapidly-growing urban youth segment of the market. This joint venture continues our strategy of focusing on sectors and markets with the most exciting growth potential."
Mr Alan Fang , CEO of NOVO Group said:
"NOVOMANIA has already established the reputation as the urban trendy fashion trade show in China for international brands. We see tremendous growth in the future due to greater interests from international brands as well as the growth of local brands. We are excited to partner strategically with UBM, a leading global business media company, Asia's leading exhibition organiser and the biggest commercial organiser in mainland China, to expand NOVOMANIA even faster and further to be the dominant platform gateway for any brand looking to reach China's trendy fashion apparel market."
About UBM Asia
Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia's leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 25 major cities with 29 offices and over 1,200 staff.