Londonâ€”United Business Media said Monday that its CMP Asia division has expanded its presence in China by purchasing a majority stake in the Guangzhou Beauty Fair.
CMP Asia made the acquisition with joint venture partner BolognaFiere Group for $7 million.
The Guangzhou Beauty Fair, formally known as the Guangzhou International Beauty & Cosmetic Import-Export Expo, attracts more than 3,000 exhibitors and 200,000 visitors to each show. The fair debuted in 1989 and has been held twice a year since 1996.
CMP Asia and BolognaFiere Group plan to launch another beauty industry event, Cosmoprof Shanghai, with the first show scheduled for January 2007.