MIAMI, Fla. — Today, Informa Markets announced the finalization of the earlier reported agreement between Informa Markets’ Premiere Group, BolognaFiere Group and the Professional Beauty Association (BPA) with the creation of the US Beauty LLC joint venture.
Double digit sales growth prevailed in the U.S. beauty industry in 2022. America’s beauty industry increased its sales 16% in 2021 and according to NielsenIQ’s 2022 State of the Beauty Industry report is expected to exceed $716 billion by 2025.
Timing is everything and now with the finalization of the monumental joint venture the newly formed US Beauty LLC is poised for expanded growth in the U.S. and abroad. Industry veteran Ed McNeill, Senior Vice President of Premiere Group, will lead the venture, with the team being headquartered in Orlando where an expanded call center is expected to launch in 2023.
“This joint venture is just the next step in our goal to be the country’s leading network of beauty industry events—connecting beauty industry professionals, educators, students and top brands together in a way that hasn’t been done before,” McNeill stated.
Plans are underway to provide the community with a variety of opportunities to benefit from this deal and is set to include greatly expanded sponsorship and marketing opportunities, and the ability to participate in the growing portfolio of shows through multi-show contracts and access to global markets.
Like much of the industry in a post pandemic environment, their trade show portfolio has been on a tear. Premiere Beauty’s 2022 Orlando show saw 47% growth YOY with a high level of engagement with 82% of visitors attending the over 650 free classes. The show was the first since Informa Markets’ acquisition of Premiere. Similarly, Cosmoprof North America, held in Las Vegas, drew more than 40% first-time attendees, 32,000 retailers and 1,100 exhibiting companies.
Expanding the portfolio is already underway in the U.S. with PBA’s International Salon + Spa Expo in Long Beach set to become part of the Premiere Anaheim brand as part of the partnership, which will be the partners’ first launched show and is set to take place April 2-3, 2023.
“This is a revolutionary partnership that will help to grow the U.S. beauty industry exponentially and deliver best-in-class customer experience,” Ken McAvoy, President of Informa Markets’ South Florida Ventures portfolio, said. “The finalization of this deal is the result of careful planning and coordination, and we are excited to grow this talented team and create meaningful growth for the industry across the Cosmoprof and Premiere brands.”