Messe Frankfurt Announces Acquisition of Fitex India
by EVENTFAQS Bureau Industry Watch | December 12, 2017 | News
Messe Frankfurt Fitex India
Messe Frankfurt Trade Fairs India Pvt Ltd, the Indian subsidiary of the Group, has recently announced the acquisition of Fitex India, the largest fitness and health event on the subcontinent. The acquisition gives Messe Frankfurt ownership of Fitex India trade fair, previously owned and organised by Haryana-based trade fair company Smart Events. The two companies join forces to create a power-packed platform for the fitness, health, nutrition and wellness solutions for the Indian market.
Continuing to diversify into high-growth markets around the world, Wolfgang Marzin, President and CEO of Messe Frankfurt, commented on the newest acquisition, "Smart Events has built Fitex into a strong business serving an exclusive niche segment that is well-positioned in the rapidly growing fitness, health and wellness industry. We are committed to back great management teams to grow, so this is a strategic addition to our portfolio and one which we feel will strengthen long-term value for our shareholders. The acquisition demonstrates Messe Frankfurt’s continued growth initiatives to expand its business segments in India.”
In India, the total market for fitness is valued around INR 4,670 crores (USD 725 million), growing at 17-19 percent and is estimated to cross INR 7,000 crores (USD 1,100 million) by the year 2017*. Spiked by increasing focus on health, fitness centres are growing and becoming part of the lifestyle of the young India. This has led to a sharp growth in modern retail which is estimated at 28 percent of the total market and is projected to grow by 24-30 percent. While the cooperation will allow Messe Frankfurt to tap this high-potential market to expand its business segments in India, the collaboration will give Smart Events a stronger reach for Fitex India through Messe Frankfurt’s strong professional subsidiary in India as well as its global network.
Having made its debut in 2014, Fitex India is held annually in Delhi and has grown into one of the country’s largest fitness and health exhibition. The most recent event in Delhi in 2016 featured 42 exhibitors covering 7,000 sqm of gross exhibition space with feature area with live stage performance arena, training zone, and other fringe programmes attracting 12,000 trade visitors. With three successful editions that have defined trends in the fitness and health industry, Smart Events felt this was an ideal time to take the event to the next level in its growth and raise the bar for sector players.
Silvi Chawla, Founder and Director, Fitex India shared: “Joining forces with Messe Frankfurt will build Fitex India into the market leading and power-packed platform for our exhibitors, customers and industry stakeholders and allow us to deliver a truly international quality platform for business and networking. It’s all about creating value-added experiences for our customers and visitors and we can leverage on Messe Frankfurt’s expertise to take it to the next level.”
The fourth edition of this key business event, scheduled on May 5 – 6, 2018 at the India Expo Centre and Mart, will be jointly organised by both the companies and will continue to maintain its focus on the business of fitness through its exhibition and fringe program format. Together, the partners are committed to create a platform that will strengthen value for its customers and involve, innovate, and inspire great ideas and networking opportunities.
Standing strong with 20 trade fairs and over 35 conferences in its portfolio, the acquisition is another step that reinforces Messe Frankfurt’s leading position in India while highlighting its strategic growth initiatives through continued progress and penetration into new industry segments.
Raj Manek, Managing Director, Messe Frankfurt Trade Fairs India shared, “This move defines our focus of acting on industry trends and is a completely new and exciting segment for us. We will closely work with Smart Events and have a clear integration plan to realise the synergies of this combination and create value propositions for the health, wellness and fitness industry players.” The company remains confident in its 2018 outlook to diversify its revenue base.
In India, the total market for fitness is valued around INR 4,670 crores (USD 725 million), growing at 17-19 percent and is estimated to cross INR 7,000 crores (USD 1,100 million) by the year 2017*.