ITE Moda acquires 20% share in Hong Kong's The Hub
Just as The Hub, the latest Asian trade show creation for young fashion, kicked off its partnership with the Beijing exhibition Chic Young Blood, its organizers announced that British exhibition company ITE Moda had bought a 20% share in The Hub. The announcement comes only a few months after the huge Asian trade show organizer Ubm Asia bought up Novomania, essentially the Shanghai competition to Chic Young Blood.
ITE Moda is a subsidiary of ITE Group, which organizes around 250 trade fairs. The company’s headline shows include Scoop International, a London exhibition for women's premium ready-to-wear and accessories and its male counterpart, Jacket Required. It also organizes Moda, a trade show that brings the British ready-to-wear industry to Birmingham and Bubble London, a show for children's fashion.
The company has thus expanded its show portfolio with The Hub, whose first edition was held from August 28–30 at the Asia World Expo, an exhibition center near the Hong Kong airport. The show drew some one hundred exhibiting brands keen on developing their business in China and Asia, including names such as Desigual, John Smedley, Chester Barrie, Henry Lloyd and Adidas-Y3.
"Asia is the world’s biggest growth story right now, and Asian retailers have never been keener to find out about international fashion brands," said Peter Caplowe, co-founder of The Hub. "Bringing our knowledge of the branded fashion market within the region together with the industry knowledge and show expertise of ITE Moda means we’ll be able to create the best possible platform for brands wanting to do business in the region."
“This latest investment highlights further our commitment to ensuring future expansion for forward-thinking fashion brands. Premium fashion is currently one of the fastest growing areas of the global women’s and menswear markets and we look forward to working with those brands who are positioning themselves to take full advantage of this dynamic sector," said Colette Tebbutt, managing director of ITE Moda.
The next edition of The Hub will be held February 15–27 at Asiaworld Expo in Hong Kong, with some 150 brands exhibiting, according to the organizers. For the first time, the show traveled to Beijing to present a session at Chic Young Blood held October 25–27. In 2014, the Beijing trade fair will do the same and make a presentation at The Hub. The partnership is intended to bolster these two fairs for young fashion and promote the development of multi-brand stores in the Chinese market, which currently has very few, as Richard Hobbs, co-founder of The Hub, told FashionMag a few days ago during Chic Young Blood..
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