09 December 2017, Mumbai : 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 per cent 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 per cent of the total market and is projected to grow by 24-30 per cent. 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.
Messe Frankfurt is the world’s largest trade fair, congress and event organiser with its own exhibition grounds. With more than 2,300 employees at some 30 locations, the company generates annual sales of around €647 million.