Reed Huabo Exhibitions, part of Reed Exhibitions China, and CCAGM Exhibition (Beijing) Holdings, the organizers of the China Daily Use Article tradeshow, announced a partnership to run this well-established trade event, in which Reed now holds the major stake. The two parties will collaborate under the banner of a new joint venture company: Reed Huabai Exhibitions.
The event will enjoy official support from the China Commerce Association of General Merchandise (CCAGM), a body that will also share hosting responsibilities. Through this first foray into the department store market, Reed Huabo now serves China’s entire household consumables and department store markets.
“What makes this collaboration particularly powerful is that each partner brings significant resources to the table,” said Preecha S. Chen, president, Reed Exhibitions Greater China. “We plan to leverage these in a way that has a far-reaching impact on the household consumables and department store industries. Our aim is to build a world-class trade event and establish a comprehensive sourcing platform that drives industry growth and develops the market.”
China is one of the world’s most lucrative and fastest-growing consumer markets. Rising living standards have shifted the Chinese consumer’s focus from the simple satisfaction of basic needs to the pursuit of a better quality of life. This transition has, in turn, created significant opportunities in the household consumables and department store industries, as booming retail sales are underpinned by a steady rise in household income.
“The prospects in this industry are extremely promising. Strong consumer spending has pushed the country’s total retail sales,” said Mike Jiang, managing director, Reed Huabo Exhibitions. “From 2010 to 2011, these grew by over 15 percent. We are delighted to have formed this partnership.”
In 2012, the partnership between Reed Huabo Exhibitions and Shanghai Zhongbai Exhibitions will cooperate on their inaugural project, the China Daily Use Article tradeshow, Aug. 2-4, 2012 at the Shanghai New International Expo Center (SNIEC). The event is set to be China’s largest department store show this year.