New Sourcing Show to Bow During MAGIC
Looking to facilitate access to global sourcing opportunities, a Pasadena, Calif.-based B2B firm is launching ASAP, a new sourcing trade show to be held concurrently with MAGIC International in Las Vegas Feb. 18–21.
ASAP organizer Cyber Merchants Exchange (c-me.com) notes the sourcing opportunities arising as a result of China’s and Taiwan’s plans to join the World Trade Organization (WTO), as well as the fallout from the Sept. 11 terrorist attacks.
The B2B company plans to tap into MAGIC’s base of 100,000 buyers and put them in contact with factories from free-trade zones and most-favored-nation-status countries.
“Overseas manufacturers understand the new reality of conducting business in today’s changing market, particularly following the World Trade Center tragedy,” said Yoram Dahas, president of ASAP, which stands for Apparel Sourcing Association Pavilion. “Typical U.S. trade shows focus more on fashion while foreign trade organizations produce sourcing trade shows in their countries, but ASAP is the first show that brings leading factories to the U.S.”
Cyber Merchants chief executive officer Frank Yuan said Web sites such as c-me.com have already been serving as liaisons between buyers and factories but “people still want to do business the old-fashioned way, with ’shake-hand’ deals.”
ASAP will feature 50,000 square feet of exhibit space and 200 booths, of which 150 are already sold, said Yuan. The show will not officially be part of MAGIC but will run on the same dates. Representatives from about 15 countries and trade groups will be on hand, including Hong Kong, Taiwan, Indonesia, Guatemala and the Philippines. At press time, Yuan was negotiating with DuPont to bring in representatives from its international mills.
While buyers will be free to negotiate with exhibitors, ASAP is offering turnkey deals through c-me, which takes advantage of the company’s partnership with Tyco Capital, Bank Pacific SinoPak and Fritz Companies. Tyco eliminates the need for letters of credit, while SinoPak can advance up to 90 percent of purchase orders, and Fritz does the freight forwarding and customs clearance.
Retail consultant Mary McNabb, who sits on the c-me board of directors, said the timing is right for ASAP since, resulting from China’s entry into the WTO next year, trade barriers will open to allow better market access and reduce corruption and smooth out disputes that have hampered trade.
“We’re hoping that with ASAP, retailers like Federated won’t have to send buyers overseas,” said Yuan. “There were seven buyers from TJ Maxx on one of those planes on Sept. 11, so many aren’t feeling safe anymore.”
ASAP will be held at the Mirage hotel. For more information, call (626) 793-5000 ext. 136.
