BolognaFiere, Italy’s leading trade fair organiser in terms of activities in foreign markets, has announced the creation of a new company (a JV) that will operate in China, expanding the range of trade sectors in which the Group is already a key player in the Asian markets.
The agreement, which was announced today in Bologna, will see the creation of a Joint Venture that will operate in the Chinese market and is composed of BolognaFiere China Ltd (a company belonging to the BolognaFiere Group) and Phenix (a Chinese trade fair organiser with 18 years of experience).
The JV structure sees BolognaFiere China Ltd hold 51 per cent of the new company’s shares and the remaining 49 per cent with the Chinese partner.
BolognaFiere is active in Asian markets in the organisation of trade fairs in the region, as well as the activities involving incoming Asian visitors to Italy, through the BolognaFiere Group’s company BolognaFiere China Ltd, which was created fifteen years ago, long before its competitors had the foresight to understand the potential role of international players in the Chinese trade fair sector.
BolognaFiere China generates revenues of 50 million euros and operates through a team of 40 staff at the company’s Shanghai premises.
Currently BolognaFiere is present in the Chinese market with events dedicated to the sectors of Beauty and Cosmetics – COSMOPROF ASIA in Hong Kong and the SOUTH CHINA BEAUTY EXPO in Shenzen – as well as the children’s publishing sector with the CHINA SHANGHAI INTERNATIONAL CHILDREN’S BOOK FAIR (Shanghai).
The new JV will enable the company to expand its range of trade sector activities with three dedicated events for, respectively, the sectors of organic products, pets and animal husbandry, and private labels.
In particular, already in 2020 taking place will be:
- CHINA INTERNATIONAL ORGANIC FOOD – from 5 to 7 November 2020, in Xiamen
- SHANDONG ANIMAL HUSBANDRY FAIR – in the month of November 2020, in Jinan Shandong
In the spring of 2021 the company will launch an event especially for the PRIVATE LABEL SECTOR in Shenzen.
Of particular interest are the economic figures for some of the sectors involved:
- the organic sector is a rapidly growing market in China, its business volume is due to exceed 13 billion dollars in 2024
- according to analysts, the value of the Private Label sector over the next five years is due to reach 380 billion euros
The creation of the new JV creates new important development opportunities for the activities of BolognaFiere, which has forecast a doubling of revenues generated in the Chinese market in the next five years.
Communication and External Relations Manager
phone +39 051 282 920 – 335 7995370