PARIS — GL Events is purchasing Tranoï with plans for the French fashion trade show organizer to work with Première Vision, adding to the wave of companies pooling resources to better survive the coronavirus crisis.
“The sector’s two major players are thus moving closer together, creating a unique hub of physical and digital b-to-b events, services and content to meet the market’s new challenges,” said the three companies, in a joint statement.
GL Events owns a 49 percent stake in Première Vision, which has been developing a digital platform to complement physical shows.
“Tranoï and Première Vision share a common vision of fashion, focusing on the creative process and championing the kind of unique, creative approaches that give the industry its force and richness,” although they operate in different stages of the value chain, they said. The idea is to create an “integrated hub of fashion events,” according to the statement.
Forcing the cancellation of large gatherings, the coronavirus crisis has further challenged the trade shows, which were already struggling to adapt to changes in the industry.
Tranoï sought to reposition the event, naming communications veteran Boris Provost president last September, succeeding an interim president following the departure of David Hadida a few months before. Organizers planned to focus on a selective offer while developing services and bolstering the trade show’s presence abroad, particularly in China.