PRN: China's Largest Household Product Show is now Owned by Reed Huabai
China's Largest Household Product Show is now Owned by Reed Huabai [05-March-2012] BEIJING, March 5, 2012 /PRNewswire/ -- Reed Huabo Exhibitions, part of Reed Exhibitions China, and Shanghai Zhongbai Exhibitions, the organizers of the China Daily Use Article Trade Fair, the largest and longest standing show for China's departmental store industry, today announced a partnership to run this well-established trade event, in which Reed now holds the major stake.
China's Largest Household Product Show is now Owned by Reed Huabai
BEIJING, March 5, 2012 /PRNewswire/ --
Reed Huabo Exhibitions, part of Reed Exhibitions China, and Shanghai Zhongbai Exhibitions, the organizers of the China Daily Use Article Trade Fair, the largest and longest standing show for China's departmental store industry, today 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, thanks to the company's extensive resources and unparalleled advantages.
"What makes this collaboration particularly powerful is that each partner brings significant resources to the table. 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," said Preecha S. Chen, President of Reed Exhibitions Greater China.
"The prospects in this industry are extremely promising. Strong consumer spending has pushed the country's total retail sales. From 2010 to 2011, these grew by over 15%. We are delighted to have formed this partnership as it gives Reed Huabo Exhibitions full access to the whole industry chain, from gift retailing and sourcing, to retail, household consumables and department stores," added Mike Jiang, Managing Director of Reed Huabo Exhibitions.
Chu Xiuqi, Chairman of the CCAGM, is also optimistic about the cooperation. "Working with Reed Huabo Exhibitions, the organizers of China's largest gift trade events, will enable us to give customers better service; deliver a higher number of quality buyers and ensure a greater return on participants' marketing investments into our shows."
China is one of the world's most lucrative and fastest growing consumer markets. In 2010, the disposable income of China's urban residents was RMB 19,109 (USD 2,900), up 11.3 percent from 2009. 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.
In 2012, the partnership between Reed Huabo Exhibitions and Shanghai Zhongbai Exhibitions will co-operate on their inaugural project, the China Daily Use Article Trade Fair, at the SNIEC from August 2 to August 4. The event is set to be China's largest department store show this year.
About the 106th China Daily Use Articles Trade Fair
The 106th China Daily Use Articles Trade Fair, to be held from August 2 to August 4, 2012, will be another key milestone in the CCAGM's history. Spanning a total exhibition area of 72,000 sqm at SNIEC, the event will feature 3,200 booths. Through its comprehensive offerings that range from general merchandise and household articles to art ware and gifts, this mammoth trade event has the scale and scope to meet the demands of local and international buyers alike.
About Reed Huabo Exhibitions
Reed Huabo Exhibitions (Shenzhen) Co., Ltd. (known as "Reed Huabo"), is the largest organizer of gift fairs in China. The company is a joint venture between Reed Exhibitions, the world's leading organizer of trade events, and Shenzhen Huabo Exhibition Co., Ltd, the most influential exhibition organizer in China's gift industry.
Reed Huabo is also a member of Reed Exhibitions Greater China. In 2009 Reed Huabo and Beijing Qunxue Expo announced the establishment of Reed Huaqun Exhibitions Co., Ltd. (known as "Reed Huaqun") in an effort to consolidate the gift and homeware exhibitions in Beijing, and to better serve the thriving North China gift and homeware market. The consolidated strength of these two market leaders guarantees higher efficiency, stronger branding and larger scale events for participants. Reed Huabo serves China's entire gift and homeware market and is unrivalled in its resources and market advantages.
About Reed Exhibitions Greater China
Reed Exhibitions Greater China serves a diverse array of China's fastest growing specialized sectors. These include: aerospace & aviation, electronics manufacturing & assembly, machine tools, metalworking & industrial materials, converting, pharmaceuticals, medical & health care, gifts & home, lifestyle, travel, gaming & property. In 2012, Reed China will organize 54 premier events.
Through over two decades of rapid growth in China, Reed Exhibitions Greater China is now the country's premier event organizer with seven outstanding member companies: Reed Exhibitions China, Reed Sinopharm, Reed Huabo, Reed Huaqun, Reed Exhibitions (Shanghai), Reed Guanghe and Reed Huabai.
In 2011, events organized by Reed Exhibitions Greater China brought together over 27,000 suppliers, more than 650,000 visitors and approximately 25,000 conference delegates.