News this week: 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.
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.”
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