Advanstar Global LLC to Acquire ENK Fashion Tradeshows Combined Portfolio of MAGIC, PROJECT, and Fashion Coterie Creates Premier Fashion Exhibition Company
NEW YORK, Nov. 16, 2012 /PRNewswire/ -- Advanstar Global LLC ("Advanstar Global"), a multi-platform events and information services company and owner of Advanstar Communications, today announced that it has signed a definitive agreement to acquire ENK International LLC ("ENK"). ENK organizes leading fashion events in New York, Las Vegas, Europe and Asia, featuring properties such as Fashion Coterie, Intermezzo and Accessorie Circuit. Through this acquisition, Advanstar Global will significantly expand its global event portfolio, adding ENK's brands to its MAGIC, PROJECT, FN Platform, Licensing International, and other tradeshows, conferences, and events.
"Having ENK, MAGIC and PROJECT within the same family of companies provides the fashion industry a choice of intimate and customized environments that satisfy their market needs. This allows us to be more responsive to our customers as we work to coordinate dates and venues, which makes the process more valuable for exhibitors and retailers," said Joe Loggia, Advanstar Global's CEO. "Moreover, Advanstar Global has made significant investments in new technology that will enable our company to further drive value, service and solutions across the entire fashion marketplace."
Advanstar Global's financial sponsors, which include Anchorage Capital Group LLC, Ares Management LLC, and Veronis Suhler Stevenson, are confident that with ENK, Advanstar Global will provide a destination and total solution for buyers and sellers in the fashion community – across all platforms and segments worldwide.
While ENK and Advanstar Communications will continue to be operated separately, ENK customers will have access to Advanstar Global's new "Shop the Floor" digital solution, slated to launch in early 2013. Shop the Floor combines the power of personal connections with the convenience of an online marketplace, creating fashion's largest digital business network. Shop the Floor will extend MAGIC and ENK beyond the show floor to cover the entire market cycle, improving the in-season experience for buyers and brands alike.
Leaders in the industry are advocates of this alliance. According to David Witman, GMM Menswear, Nordstrom, "The evolution of MAGIC, PROJECT, and ENK will form the most comprehensive collection of tradeshows serving every major fashion segment. As retailers, we benefit from expanded access to all of the key brands, diversity of in-market offerings, and a more impactful experience. It's the smart thing to do for our industry."
Likewise, leading fashion brands support the acquisition and the benefits it provides. "The combined talent driving this initiative will create the best show space in our industry. We support it and look forward to an evolution of concept and a curated experience that will help us anticipate trends and drive growth in our business through broader access to key retailers," offered Jeff Rudes, Founder and CEO, J Brand.
About Advanstar Global:
Advanstar Global LLC is the parent company of Advanstar Communications Inc. (www.advanstar.com), a leading marketing, media and events company providing integrated solutions for the Fashion, Licensing, Life Sciences and Powersports industries. The company leverages its portfolio of 141 events, 60 publications, 233 electronic products, as well as educational and direct marketing products to facilitate commerce by connecting buyers and sellers across its vertical markets.
SOURCE Advanstar Global LLC