UBM Acquires Majority Economic Interest of Shanghai International Franchise Exhibition "SFE"
June 17, 2018
UBM Sinoexpo, a subsidiary of UBM plc, acquired 70 percent economic interest in the Shanghai International Franchise Exhibition ("SFE") organised by Shanghai Exhibition-Conference Ltd (SEC).
Organised twice a year since 2005, SFE is one of the largest franchising events in China hosting 221 exhibitors with more than 450 brands and 50,261 visitors in the spring 2018 edition.
SFE's exhibitors are mainly in the food, beverage and retail sectors, which is reflective of the trends in the Chinese franchise market today.
Every year investors, potential franchisees, distributors, agents, dealers, and social organisations gravitate to the two events in search of new, foreign, and commercially attractive franchise brands for the domestic market.
According to the China Chain Store & Franchise Association (CCFA), China's top franchises generates total sales of RMB 428 billion from 124,068 stores across the country.
Currently, China has more than 4,500 franchises and chain store companies creating more than 5 million jobs nationwide. Foreign franchise brands are becoming increasingly interested in 2nd and 3rd tier Chinese cities given favourable labour costs, reasonably priced real estate facilities, and untapped consumer spending.
It is expected that under UBM's partnership, SFE will continue to grow in strength and quality and be the exhibition of choice in this sector.
"Our combination with SFE comes at an opportune time given our complimentary resources and shows in China," said Jime Essink, president and CEO of UBM Asia. "The Spring edition of SFE has already successfully co-located with our Hotel Plus event at SNIEC for two editions and we plan to co-locate SFE's autumn edition with Food & Hotel China this November.”
He added, “The synergies and crossovers between professionals in the food, beverage, and retail sectors of these collocated events creates a complete and compelling industry value chain opportunity for visitors and exhibitors."
"It is a great pleasure to have such a comprehensive cooperation with UBM Sinoexpo," said Yu Xiang, general manager of Shanghai Exhibition Conference Ltd. "By providing high-value services and business for the industry for so many years, SFE has grown to be one of the most influential events in this field today.”
He added, “With the demonstrated results in the last two editions by working with UBM Sinoexpo, I am confident SFE will further develop in the quality of our event, through the upstream and downstream markets, and vertical sectors."
The next edition of SFE will take place 13-15 November at the Shanghai New International Expo Centre (SNIEC) and the 2019 spring edition of SFE will take place 26-28 April also at SNIEC.
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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