Friday, May 30, 2014
News this week: Messe Frankfurt’s Interior Lifestyle Tokyo will see a new show record of 819 exhibitors from 27 countries and regions feature at the Tokyo Big Sight. In its 24th edition this year, Interior Lifestyle Tokyo will showcase a range of high-end interior design products from 606 Japanese exhibitors and 212 overseas exhibitors.
The three-day trade show will be segmented into nine design-themed zones titled: Accent, Everyday, Global, Home, Japan Style, Kitchen Life, Movement, Next, Talents and the Atrium Highlight.
Interior Lifestyle Tokyo is organised by Messe Frankfurt’s subsidiary, Mesago Messe Frankfurt. Interior Lifestyle Tokyo 2013 attracted 705 exhibitors and more than 25,400 visitors.
News this week: The 8th edition of Vinexpo Asia Pacific recently concluded at the Hong Kong Convention and Exhibition Centre (HKCEC) hosting 1,300 exhibitors. The three-day show featured wine and spirit brands from 34 countries, with French exhibitors taking up more than 500 booths. Vinexpo Asia Pacific was held from 27th to 29th May 2014.
According to the show’s organiser, an estimated 16,800 trade visitors were in attendance – up 6.4% from the previous edition in 2012. Vinexpo Asia Pacific also reported that despite a 2.5% drop in wine consumption in mainland China last year, China managed to overtake France as the world’s largest consumer of red wine in 2013.
Guillaume Deglise, CEO of Vinexpo, said, “This is the largest Vinexpo Asia Pacific ever. The markets of South East Asia and China are still booming. There are many markets in Asia where the middle class is expanding and this represents a great potential for the wine and spirits industry.”
News this week: Construction of the International Convention Centre (ICC) Sydney at Darling Harbour has officially started. The Exhibition and Event Association of Australasia (EEAA) joined New South Wales’ Premier, Mike Baird, and Deputy Premier, Andrew Stoner, at the construction site for a ground-breaking ceremony earlier this week.
The EEAA was pleased to hear that the project was on-time and that the preparation of the site for commencement of construction was on target. According to Mike Baird, the overall redevelopment project of Darling Harbour Live project will provide 3,700 jobs during construction and a further 4,000 jobs on completion.
Construction of ICC Sydney is expected to take two years, and displaced events have been relocated to other venues including the Sydney Exhibition Centre @ Glebe Island, Sydney Showground and Sydney Olympic Park.
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News this week: Earlier this week, India-based media company, Infomedia Press, announced its financial results for the year ended 31st March 2014. Revenues in the period were US$6,200, compared with US$6.1 million in 2013. The management attributed the drop to the discontinuation of its printing operation in the previous year.
The operating loss in 2013-2014 was US$566,000, compared with a loss of US$2.01 million last year. The net loss for Infomedia in the year was US$1.7 million, while net loss in the previous year was US$4.04 million. Infomedia’s management is currently evaluating various options, including starting a new line of business to move the company forward, and has appointed external consultants for assistance.
For the quarter ended 31st March, revenues were US$2,900 with an operation loss of US$89,000.
News this week: U.K.-based exhibition organiser Tarsus Group plc reported its interim financial results for the period from 1st January to 14th May 2014.
Tarsus highlighted that revenues are heavily weighted towards the second half of this year due to the timing of its exhibitions. Forward bookings for 2014 are up by 9% over last year, after adjusting for biennial events and acquisitions.
Tarsus also reported continued growth for its emerging market businesses. In China, subsidiary Tarsus Hope performed well during the period and ahead of last year’s results. Earlier in the year, Tarsus bought SIUF, Asia’s leading underwear show.
News this week: The leading e-commerce company in China, Alibaba Group, has plans to invest S$312.5 million (US$250 million) in Singapore’s publicly-traded mail carrier, Singapore Post Ltd. (SingPost).
Under the agreement, Alibaba’s subsidiary, Alibaba Investment Ltd. will buy a 10.35% stake in SingPost, including 30 million of the existing ordinary shares and 190 million new ordinary shares. Part of the deal will also see the formation of a joint venture (JV) in international e-commerce logistics.
According to a press release issued by SingPost and Alibaba, the JV will explore “e-commerce opportunities in Southeast Asia and beyond by providing… greater access to SingPost’s international logistics capabilities, infrastructure and delivery networks, as well as end-to-end solutions to Alibaba Group customers and merchants.”
SingPost is Singapore’s designated postal carrier and listed on the Singapore Stock Exchange.
Friday, May 23, 2014
News this week: Messe Frankfurt’s Indian subsidiary, Messe Frankfurt Trade Fairs India, will launch three new co-located events in waste management this year alongside its recently acquired Watertech – Pollutech, Cleantech and Wastetech India. The co-located shows will run from 10th to 12th September 2014 at New Delhi’s Pragati Maidan.
Wastetech India will cover a variety of products and services for the waste industries including solid waste management, recycling and resource efficiency services, technology and solutions.
Raj Manek, managing director of Messe Frankfurt Trade Fairs India, said, “The India market offers immense opportunities to private sector professionals to create resource management business models and set up recycling facilities. We are confident that Wastetech India will bring the decision-makers together to facilitate identifying long-term sustainable solutions for urban development.”
News this week: Hong Kong-listed, mainland media group, CCID Consulting, announced its quarterly result for the three months ended 31st March 2014. Revenues were US$4.5 million, flat against the previous year. The company posted a profit of US$111,000 in the quarter, which represents a 15% decrease compared with the same period last year. Earnings per share in the three-month period were RMB 0.001.
More than half of CCID’s revenues were generated from its management & strategic consultancy services, amounting to US$2.4 million - which was down 20% year-on-year. Its second largest business segment, information engineering supervision services, jumped 57% year-on-year to US$1.6 million and accounted for 35% of total revenues. The remaining revenues were generated from market consultancy services, which increased slightly by 2.7% to US$512,000.
News this week: Hong Kong-listed Sino Splendid (formerly China.com) has reported its first quarter results – which ended 31st March 2014. Revenues from continuing operations – travel media business, TTG, were US$1.5 million, representing a 51% drop compared with last year. The company attributed the decline in revenue to a decrease in event organising revenue related to its event management contract of the ASEAN Tourism Forum (ATF) 2014.
Profit attributable to owners of the company in the quarter was US$31,000, down from US$613,000. Diluted earnings per share in the period were HK$0.0004.
News this week: Earlier this week, London-listed ITE Group released an interim financial announcement for the six months ending 31st March 2014. The company reported revenues of £71.2 million (US$119 million) – up 2.6% over the same period in 2013. Pre-tax profit jumped impressively from £2.6 million (US$4.3 million) last year, to £12.2 million (US$20 million) in 2014.
ITE completed three acquisitions during the six-month period: Beauty Eurasia, an annual event serving the beauty, personal care and cosmetics industries in Turkey for £8.4 million (US$14 million); ChinaCoat / SF China (50%) in China for £34 million (US$57 million); and ITE also acquired the remaining 60% of Scoop, a high-end fashion event for the women’s wear sector in the U.K.
Russell Taylor, CEO of ITE, commented, “ITE has delivered a strong performance over the first half of the year with revenue growth in the Group’s main markets allied to a stronger biennial pattern in the first half of the year. Our recent acquisition of Beauty Eurasia in Turkey and a 50% investment stake in the Chinese Chinacoat/Surface Finishing exhibition represents more progress in achieving the Group’s strategic objectives.”
News this week: Messe Frankfurt’s subsidiary, Messe Frankfurt New Era Business Media, has partnered with Asian Exhibition Services (AES) to organise the safety trade show, Secutech ASEAN in Bangkok. Previously known as Secutech Thailand, Secutech ASEAN will take place on 26th to 28th November at Bangkok International Trade and Exhibition Centre (BITEC).
The organisers are expecting to attract more than 150 exhibitors to showcase the latest in security technology. Secutech ASEAN will feature four speciality sections: Surveillance Systems, Home Security & Automation, Building Automation & Access Control and Fire & Safety.
John Shi, general manager of Messe Frankfurt New Era Business Media, said, “It gives me great pleasure in announcing our new partnership with AES. The firm is well-known for their expertise in managing industrial-based trade fairs in Asia. With its headquarters in Bangkok plus an expansive network in the region, AES possesses the expertise in bringing professionals from the private sector and granting support from government bodies.”
News this week: The president of Thailand Convention and Exhibition Bureau (TCEB), Mr. Nopparat Maythaveekulchai, has reassured that Bangkok is operating as usual despite the country’s army declaring martial law earlier this week. TCEB’s president stated that all MICE venues and tourist attractions in the capital are operating as usual.
However, since his comments were made, Thailand’s military has officially taken control of the country in a coup and has suspended its constitution as of 24th May. The military has also suspended normal broadcasting on television and radio as well as political gatherings. A nationwide curfew running from 22:00 to 05:00 was also put in place. This is Thailand’s 12th coup since absolute monarchy ended in 1932.
While speaking at the IMEX 2014 in Frankfurt before the coup, Nopparat Maythaveekulchai said, “We think this [martial law] is a good sign and things will end soon. Our targets will remain the same… There have been a few cancellations in meetings and incentives, but on the exhibition part there are no cancellations at all. The quality of business traveller is more important than the number of people who come to Thailand and we’ve put in place a policy to increase quality.”
Friday, May 16, 2014
News this week: The Thailand Convention and Exhibition Bureau (TCEB) recently signed a Memorandum of Understanding (MoU) with nine agencies and associations from Thailand’s public and private sectors to develop the Thai MICE database.
The nine partners include the National Research Council of Thailand, Designated Areas for Sustainable Tourism Administration, International Institute for Trade and Development, E-saan Centre for Business and Economic Research, Thai Incentive and Convention Association, Thai Exhibition Association, Thai Hotels Association, Event Management Association, and the National Institute of Development Administration.
Mr. Nopparat Maythaveekulchai, president of TCEB, said, “It is thus crucial to establish a systematic database for the analysis and planning of future developments and marketing promotions in an efficient manner, enabling Thai MICE to keep up with global MICE trends. In turn, excellent data analysis will also allow Thailand to realise factors affecting marketing operations in order to retain the country’s goal of promoting itself as the ideal destination for meetings and exhibitions in Asia.”
News this week: Last month, the Hong Kong Trade Development Council (HKTDC) organised a total of seven trade fairs which set a new record for exhibitor and buyer numbers – attracting more than 11,000 exhibitors and 221,000 buyers during April.
According to the HKTDC, a total of 6,907 exhibitors and 126,000 buyers were from overseas. The HKTDC reported buyers from Asia increased 7.5% year-on-year, and buyers from North America and Europe also showed positive results.
HKTDC’s deputy executive director Benjamin Chau said, “The enlarged scale of the fairs increased business opportunities for the exhibition industry, as well as for the exhibitors and buyers. More business was also generated in industries such as logistics, security, marketing, translation, hotels, and food and beverage.”
News this week: Last week, Bangkok-based business information provider, Business Online (BOL), announced its financial results for the first quarter of 2014. Revenues were US$3.3 million, up 28% year-on-year. BOL’s net income in the quarter was US$535,000, an increase of 20% compared to the same period last year. The company attributed the growth to higher revenue from some projects. Earnings per share in the period were Baht 0.02.
More than half of BOL’s revenues were generated from the company’s online information service which amounted to US$1.7 million – down 2.7% from last year. Income from other services doubled from last year to US$1.6 million in the quarter. However, the company did not supply details of revenue categories.
New this week: Hong Kong-listed HC International reported its results for the quarter ended 31st March 2014. Revenues in the quarter were US$36 million – an increase of 39% over the same quarter last year. The company recorded profit attributable to equity holders of US$6.8 million, an impressive growth of 109% from 2013. Diluted earnings per share in the period were RMB 0.0615 (US$0.0099).
More than 85% of the Beijing-based company’s revenues were generated from online services amounting to US$31 million. This represents a year-on-year growth of 41%. The second largest business segment was seminars and other services, which increased by 62% to US$4.1 million and accounting for 11% of total revenues. The remaining revenues were generated from its trade catalogues and yellow page directories segment. Revenues of this segment were US$1.2 million, a drop of 24% from the same quarter last year.
News this week: Yesterday, NASDAQ-listed Global Sources released its first quarter results for the period ended 31st March 2014. Revenues were US$34 million, up 10% compared with US$31 million recorded in the same quarter last year. However, IFRS net income in the period dropped from US$5.6 million last year to US$145,000 in the quarter.
The Hong Kong-based company generated revenues of US$21.3 million from its online business – 62% of total revenues. That is a drop of 15% from the US$25.0 million recorded last year. Revenues from print businesses accounted for 7.5% of total revenues at US$2.6 million, down 13% year-on-year from US$3.0 million recorded in the same quarter in 2013. While exhibition revenues increased from US$1.5 million in the first quarter of last year, to US$8.9 million this year, and accounted for 26% of the company’s total revenues.
Global Sources’ executive chairman, Merle A. Hinrich, said, “In the first quarter of 2014, our new SIMM machinery shows were a strong success in every respect and contributed substantially to our first quarter revenue… As we continue to manage through a sluggish global retail market, we are working to improve our overall revenue performance. We have made changes within our online business that have improved its financial performance, and we are planning several new trade shows.”
News this week: The Alibaba Group’s B2B e-commerce subsidiary, Alibaba.com, has announced the offer of a rebate to Chinese exporters that complete transactions through Alibaba’s export services provider OneTouch.
Alibaba’s Shenzhen-based subsidiary provides exporters with customs clearance, trade financing, foreign exchange, logistics and other related services. The rebate program will see Chinese exporters receive up to RMB 0.03 for every US$1 in value of export transactions handled through OneTouch.
Separately, Alibaba.com announced a partnership agreement with U.S. customs data provider, ImportGenius, which provides subscription-based trade research and product sourcing services. Subscribers of ImportGenius will be offered the option of sending a sourcing query for a particular product through Alibaba.com’s AliSourcePro service during their data search. AliSourcePro provides buyers with product quotes from Alibaba.com’s verified suppliers within 24 hours.
News this week: The Hong Kong Trade Development Council (HKTDC) hosted 240 exhibitors from 14 countries and regions at the 5th Hong Kong International Medical Devices and Supplies Fair – up 9% over 2013. Jointly organised by the HKTDC and Hong Kong Medical & Healthcare Device Industries Association (HKMHDIA), the show reportedly attracted 9,600 buyers from 7th to 9th May at the Hong Kong Convention and Exhibition Centre (HKCEC).
The HKTDC reported a total of 36 buying missions from 24 countries and regions attended the show, which accounted for more than 1,200 buyers from over 900 companies. Dedicated products zones this year included the major categories of: Physiotherapy, Medical Supplies and Disposables, Medical Cosmetology, Manufacturing & Design Solutions, Laboratory Equipment and Building Technology, and Hospital Furniture.
The HKTDC hosted four group pavilions at the show including those organised by the HKMHDIA, the Shenzhen Association of Medical Devices, the Missouri Department of Economic Development, and the city of Shanghai. There were also first-time exhibitors from Australia, Japan, Malaysia, Sweden and the U.K.
Monday, May 12, 2014
News this week: The Shanghai New International Expo Centre (SNIEC) has announced the appointment of a new General Manager, Michael Kruppe, effective 1st February 2014.
Kruppe previously worked in sales and marketing in China in a variety of industries for almost 25 years. He replaces Dr. Hans-Jörg Geduhn, who left SNIEC at the end of January 2014 to pursue other challenges.
As Kruppe takes over from Geduhn, SNIEC faces a new era of heightened competition. A new 400,000 m2 venue is schedule to open in Shanghai’s Hongqiao district in 2015. The venue will be owned by the China Foreign Trade Group (organisers of the Canton Fair) and Shanghai EastBest International.
Friday, May 09, 2014
News this week: The Association of Korean Exhibition Industry (AKEI) and the Thailand Convention and Exhibition Bureau (TCEB) recently signed a Memorandum of Understanding (MoU) at a ceremony in Bangkok to provide mutual support in the exhibition industry including cooperation in marketing and promotional activities, information and data exchange, and business development.
The two exhibition industry bodies will look to focus on four major areas of cooperation:
- To increase the number of overseas exhibitors originating from Thailand and Korea at exhibitions held in each other’s country.
- To investigate win-win strategies of bartering pavilions at major exhibitions in Thailand and Korea.
- To establish an exchange program for exhibition venue employees to benchmark and share best practices.
- To conduct matchmaking between Thai and Korean exhibition organisers to foster joint venture partnerships.
News this week: The inaugural edition of Taiwan International Boat Show launched at the recently opened Kaohsiung Exhibition Center (KEC) running from 8th to 11th May 2014. A total of 168 manufacturers and suppliers occupied more than 860 booths and featured in excess of 60 yachts at the four-day show.
The new show is jointly organised by the Bureau of Foreign Trade and Kaohsiung City Government. It is implemented by Taiwan External Trade Development Council (TAITRA) and held under the auspices of Taiwan Yacht Industry Association (TYIA).
The show featured high-end luxury yachts, peripherals, components and equipment. It is reportedly the only indoor boutique yacht exhibition in Asia, some 40 yachts, sailboats and power-driven boats were showcased indoors in the KEC’s column-free North Hall. The organisers expect more than 30,000 visitors to attend the four-day show.
News this week: Reed Exhibitions recently announced a series of new show launches across Asia involving its subsidiaries Reed Exhibitions Japan and Reed Panorama Exhibitions (RPE).
Reed Exhibitions Japan will launch a new trade show focusing on consumer IT products as part of its annual Japan IT Week. The inaugural Consumer Products Expo (C-PEX) will take place at the Tokyo Big Sight running from 13th to 15th May 2015.
In Indonesia, RPE, Reed’s Indonesian joint venture subsidiary, will launch three new events and expand its existing Mega Build Indonesia this year. The three new launches include Indonesia Transport Supply Chain and Logistics and Mining & Engineering Indonesia, which will both take place from 29th to 31st October 2014 at the Jakarta International Expo. The third event will be the trade and public exhibition Indonesia Toys, Games & Comic Convention (ITGCC). A venue for ITGCC has not yet been confirmed, but is scheduled to take place sometime in October or November later this year.
News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, released its financial results for the quarter ended 31st March 2014. Revenues were US$20 million, a year-on-year increase of 7.7%.
In the same period, the Nanjing-based company’s net income attributable to shareholders dropped 27%, amounting to US$2.9 million. The company’s management did not comment on the decline. Diluted earnings per share in the quarter were RMB 0.15 (US$0.024).
As of 31st March, Made-in-China.com had a total of 12,703 registered members. Of which, 12,249 members were registered on its flagship English language site and just 454 members were registered on its Chinese language site.
News this week: The Guzhen Lighting Fair recently concluded in the city of Zhongshan in Guangdong province. It featured 525 exhibitors and more than 24,500 professional buyers. This edition of the show is the first time it was held under its new biannual format since UBM Sinoexpo, one of UBM’s subsidiaries in China, became a joint venture partner of the show - in September 2013.
The 13th Guzhen Lighting Fair was held from 10th to 14th April at the Guzhen Convention and Exhibition Center. The fair now features a spring and autumn edition each year. The spring edition will focus on the domestic market and the autumn will focus on the export market. The autumn edition this year will be held from 22nd to 26th October, also at Guzhen Convention and Exhibition Center.
News this week: China’s largest e-commerce company, the Alibaba Group, has filed documents in the U.S. for its much anticipated initial public offering (IPO). The company has yet to decide on whether to list on the New York Stock Exchange or NASDAQ. The IPO will be underwritten by Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and Citigroup.
Alibaba’s co-founder Jack Ma now reportedly owns 8.9% of the company, with major shareholders Yahoo Inc and Softbank owning 22.6% and 34.4% respectively. As part of an earlier agreement, Yahoo must sell around 40% of its stake in Alibaba through the IPO or directly back to Alibaba prior to the IPO.
Alibaba will reportedly be governed by a partnership consisting of 28 members with exclusive right to nominate a majority of its board of directors. Yahoo will resign its seat on the board upon the listing, and Softbank will have the right to nominate one director to a new nine-member board. According to Alibaba’s filing with the U.S. Securities and Exchange Commission, the company’s IPO will offer the public a 12% stake worth approximately US$20 billion based on estimated values.
Friday, May 02, 2014
News this week: NASDAQ-listed Global Sources recently held its spring consumer product series of China Sourcing Fairs at Hong Kong’s AsiaWorld-Expo (AWE). Running from 27th to 30th April, the four-day event hosted more than 2,500 booths through seven industry-specific trade shows.
The co-located events included the China Sourcing Fairs: Gifts & Premiums, Home Products, Fashion Accessories, Garments & Textiles and Underwear & Swimwear, as well as the India Sourcing Fair: Garments & Accessories and Korea Sourcing Fair: Gifts & Premiums.
According to Global Sources, around 90% of exhibition booths at the show were occupied by suppliers who exhibit exclusively at its China Sourcing Fairs. Major global buyers at the exhibitions cited by Global Sources included Adidas, American Gift, Avon Products, Carrefour, El Corte Ingles, Fossil Group, Galleria, Li & Fung, Ralph Lauren, Redcats, Sime Darby, SM Retail, Target and Tupperware.
News this week: Earlier this week, the Hong Kong Trade Development Council (HKTDC) organised two trade fairs in Hong Kong featuring more than 4,500 exhibitors in total. The shows both ran from 27th to 30th April 2014.
The 29th edition of Hong Kong Gifts & Premium Fair was held at the Hong Kong Convention and Exhibition Centre (HKCEC). More than 4,130 exhibitors from 35 countries and regions attended the show, including first time participants from Latvia and Luxembourg. A total of 15 group pavilions were hosted, including one from the show’s co-organiser – The Hong Kong Exporters’ Association.
At the AsiaWorld-Expo (AWE), more than 400 exhibitors from seven countries and regions were featured at the 9th Hong Kong International Printing & Packaging Fair. Exhibitors included those from mainland China, Hong Kong, Japan, Macau, Taiwan, Thailand and the U.S.
News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun, released its financial results for the quarter ended 31st March 2014. The company reported revenues of US$6.9 million, down 17% from the same quarter of last year. The company did not comment on the decrease of revenue. However, net profit attributable to shareholders in the quarter grew 8.0% year-on-year, to US$1.7 million. Earnings per share in the period were RMB 0.07 (US$0.011).
The Hangzhou-based company generated revenues of US$33 million in the year of 2013, an increase of 24% from 2012. Net profit attributable to shareholders in the year was US$5.4 million, down 9.0% from the previous year. Earnings per share in 2013 were RMB 0.20 (US$0.033).
News this week: Last week, leading Chinese-language Internet search provider, Baidu, announced its first quarter results for 2014. Revenues were US$1.5 billion, a jump of 59% over the same period of last year. Net income attributable to the company was US$408 million, up 24% over the first quarter of 2013. Diluted earnings per share in the period were RMB 7.21 (US$1.16).
Most of Baidu’s revenues were generated from its online marketing services. The number of active online marketing customers increased 8.8% to about 446,000 in the first quarter of 2013, while revenue per customer grew to US$3,362 – a jump of 44% over the corresponding period of last year.
The NASDAQ-listed company forecasts revenues in the second quarter of the year to be between US$1.90 billion and US$1.95 billion, representing a year-on-year increase of 56% to 60%. Revenues in the second quarter of 2013 were US$1.23 billion.
News this week: Earlier this week, London-listed UBM plc released its results for the quarter ended 31st March 2014. UBM’s revenues were down 14% year-on-year, to £163.0 million (US$272 million). Adjusted group operating profit was £29.4 million (US$49 million), down 17% from the same period of last year.
Revenues from the company’s events business, which accounted for 57% of overall revenue, were down 13% year-on-year at £93.3 million (US$156 million). Adjusted group operating profit dropped 19% to £24.3 million (US$41 million). The company attributed the decrease to fluctuations in foreign currency exchange rates and adverse phasing during the period, but noted that shows in the U.S. and emerging markets performed well to offset the expected decline in the U.K.
On the positive side, forward bookings for UBM’s 2013 Top 20 events running in the next 12 months were valued at £136.7m (US$231 million), up 22.2% compared to the same time last year.
News this week: Reed Exhibitions will launch a new event in Korea through its in-cosmetics portfolio of shows. in-cosmetics Korea will take place on 15th to 16th June 2015 at the COEX Exhibition Centre in Seoul. The new cosmetics trade show is established with the support from the Korea Cosmetic Association (KCA).
According to Reed, in-cosmetics Korea will be the first trade show in Korea dedicated solely to the personal care ingredients industry, where the country is currently Asia’s third largest cosmetics market. The organiser expects the two-day show to attract a wide range of Korean beauty industry professionals including formulators, lab and R&D professionals and purchasing managers.
Lucy Gillam, senior exhibition director of the in-Cosmetics portfolio, commented, “As home to more than 1,500 cosmetic manufacturers and the world’s highest spenders per capita in the field of skincare and male grooming products, it [Korea] offers a huge opportunity for ingredient suppliers to build their business in this lucrative – and sophisticated – market.”