As the new Prez said last week that they will emphasing on the chinese retail business which is worth $10 billion dollars
Wednesday, June 22, 2011
Mood Media CEO and Chairman Lorne Abony to present keynote at China Luxury Summit
Shanghai, June 22 - Mood Media Corporation (TSX:MM / LSE:MM) a leading global provider of in-store media, digital signage and scent solutions, today announced that CEO and Chairman Lorne Abony will deliver a keynote presentation at the China Luxury Summit 2011 (23-24 June, Shanghai). The two-day event is the most significant gathering of industry leaders focused on the growing luxury market in China. More than 500 luxury professionals are expected to take part in the summit, which will feature presentations from leaders in the retail field alongside forums, exhibitions and an awards ceremony. Participating brands include such global leaders as Dunhill, Ferrari, Porsche, Ferragamo, Gucci, Versace and Swarovski.
China has become an important high-end retail market, reaching
USD $10 billion in total retail sales in 2010.
Estimates suggest China will be the largest luxury retail market in the world within the next five to ten years. Over the past-five years the world’s leading luxury brands have grown their presence in China and domestic Chinese luxury brands are also emerging. These brands are increasingly turning to in-store media and retail experience design as they build their brands in China.
Mr. Abony’s keynote presentation comes as Mood Media is rapidly expanding its own presence in China. The company is committed to operating directly in China and taking a leadership role in the domestic industry.
Mood Media already provides in-store media to a number of global brands in China, including Gucci, Coach, Ralph Lauren and DKNY. On June 15 Mood Media announced it will provide in-store music to luxury retailer Gucci in Europe, the Middle East, Asia and Australia. Mood Media will provide rights-clearance, music players and manage the delivery of music to all retail stores, including Gucci’s growing retail footprint in China. The music will be the same in each location, ensuring a consistent brand experience across the globe.
“No one is better than Mood Media at extending a retail brand with in-store media, which is why the world’s leading fashion brands choose to work with us.” said Mr. Abony. “Our partnership with Gucci is another example of our tremendous momentum in China.”
On June 6 Mood Media announced a strategic partnership with the China Audio-Visual Association (CAVA) as part of its ongoing strategy to expand in the Chinese market. CAVA is the largest industry association of digital media publishers and distributors in China, and the only national audio-visual industry trade association recognized by the General Administration of Press and Publications (GAPP) of the People’s Republic of China. The partnership opens significant new distribution opportunities to Mood Media and provides access to over 500 leaders in the distribution of audio and visual content in China.
“The continued growth of China’s retail sector along with strong measures now being undertaken by the Chinese government to encourage legal, world-class content and services represent a major opportunity for Mood Media to further deploy its in-store media solutions in one of the world’s fastest growing economies” said Mr. Abony.
Mr. Abony is a successful entrepreneur with a strong track record in creating shareholder value in ventures ranging from online pet supplies to encryption software, and has raised more than $1 billion in capital over the past 10 years. Under his leadership Mood Media has grown organically and through acquisition, including the purchase this year of U.S. in-store leader Muzak. Earlier this year, Mood Media was named Canada’s Fastest-Growing Company by PROFIT Magazine. Mr. Abony is also on the advisory board of Der Grüne Punkt – Duales System Deutschland GmbH (DSD) a leading provider in the growing market of closed-loop recycled consumer and commercial packaging.
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