UBM Sinexpo Acquires Winexpo Trade Show
July 22, 2012
UBM Sinexpo, the joint venture company between UBM Asia and Shanghai Sinoexpo International Exhibition Ltd.,has acquired the Winexpo trade show from Shanghai Golden Commercial Exhibition.
Winexpo, first launched in 2005, is held in May and November in Shanghai.
The May 2012 event was held in INTEX Shanghai and attracted almost 100 exhibitors and more than 5,300 trade visitors.
The autumn 2012 event will take place Nov. 28-30. From 2013, Winexpo will be collocated with UBM's existing trade show, Hotelex Shanghai, China's leading show for hotel supplies and equipment.
The event's founder, Yang Jianzhuang, will remain with the business as a consultant and a joint organizer.
Winexpo will be managed by Shanghai UBM Sinoexpo as revealed by Zhang Xueqiang, managing director ofUBM Sinoexpo.
"This acquisition helps us to further serve our customers' needs: UBM Sinoexpo's Hotelex Shanghai show already has very successful sections for coffee, tea and fine food so the addition of Winexpo will enrich the product range available to buyers visiting the show,” said Jime Essink, president and CEO of UBM Asia.
“Winexpo exhibitors will also benefit from exposure to Hotelex Shanghai's visitors, many of whom are substantial wine purchasers from the hospitality and catering sectors. We welcome Mr. Yang and the Winexpo team to the UBM family."
As income levels rise China is becoming one of the world's largest wine markets. Research by the London-based International Wine and Spirit Research (IWSR) covering 28 producing countries and 114 markets, China now is the fastest-growing wine market in the world, growing six-fold in five years.
Industry revenue is expected to reach RMB84.2 billion (US$13.23 billion) in the next five years, with imported wine accounting for 26 percent of the total.
Not only are international producers focused on building their presence in China and across Asia but also domestic production is growing, with China forecast to become the world's sixth largest wine-producing nation in three years, after France, Italy, Spain, the United States and Argentina.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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