CANNES — With the 22nd edition of Mapic in full swing at the Palais des Festivals here, Reed Exhibitions (RX) continues to bulk up its portfolio of retail real estate events with the acquisition through its Reed Midem and Reed Exhibitions India subsidiaries of India Retail Forum, a premier Mumbai-based event geared to the local retail real estate market, as well as its satellite events, the Shopping Centre Forum and Regional Retail Forums. The inaugural edition of IRF powered by Mapic is due to take place Sept. 19 to 20, 2017.
“It’s the new baby of the family,” said Mapic director Nathalie Depetro, who announced the news during a press conference here today. “The value proposition is very similar and we’re going to work hand-in-hand to make this an international event. India is a market full of promise.”
Also present, IRF founder Amitabh Taneja, who will continue to manage the event, said: “Almost 300 shopping centers have been developed in India over the past 15 years. India has become one of the largest consumer markets, with 300 million-plus middle-class consumers. Together with Mapic, we will be able to create a new gateway for international retailers and help simplify access to the market.”
Asked why the event is held in Mumbai, Taneja replied: “It’s the financial capital of India and all of the major retailers are based out of Mumbai. It’s also a convenient location for international visitors.”
Among RX’s other related recent additions to the family, the events organizer giant in January announced the acquisition of Russia-based REX (Real Estate Exhibition) and its satellite trade show Arenda, geared to commercial leasing. May saw the inaugural edition of Mapic Italy in Milan, while the second edition of its Mapic China Summit in Shanghai took place in June.
Mapic France, which wraps on Nov. 18, continues to increase its scope in terms of international representation, meanwhile, with Afghanistan and Algeria here for the first time. The top three countries represented at the show are France, Italy and the U.K. A renewed dynamism has seen more than 8,300 participants sign up to the event, including 2,100 retailers, of which 470 are newcomers. For the first time, around 1,000 investors are adding to the action, Depetro said. “It’s quite interesting as it’s not the DNA of Mapic, we’ve always been more on the retailer side, it’s a leasing transaction platform. We have a lot of investors who are looking to retail property as a new asset, they want to diversify their portfolio and bring them in next to offices or residential assets. We know that this is the most profitable asset compared to the other segments.”