With more than 265,000 visitors and more than 3,000 exhibiting companies in 2019, Cosmoprof Worldwide Bologna is one of the most important trade fairs for the global cosmetic industry. Initially scheduled on March 12-15, the show is postponed to June 11-15, 2020.
"The latest news concerning novel corona virus in Italy have forced us to review our positions,” said Gianpiero Calzolari, President of BolognaFiere in a statement. “In agreement with the Regional Government of Emilia Romagna and with the Municipality of Bologna, we have assessed the situation, and postponing the event is currently the most correct solution, to support Italian institutions engaged today in protecting our health."
The 2020 program and special initiatives will not undergo substantial changes, added the organizers.
Almost at the same time, the organizers of Luxe Pack Shanghai also announced the postponement of their event. Originally scheduled for April 8 and 9, 2020, Luxe Pack Shanghai should finally be held on July 7 and 8, 2020 at the Shanghai Exhibition Center.
When the first cases emerged in China, the PCHI trade show, focusing on personal care ingredients, had already been postponed before being finally rescheduled on June 2 and 4 in Shanghai.
The World Health Organization on Monday said the new coronavirus epidemic had "peaked" in China with new cases declining steadily there, but warned that a surge in cases elsewhere was "deeply concerning" and all countries should prepare for a "potential pandemic". Recent developments also caused falls of more than three-percent in several European stock markets - with Milan plunging 5.4 percent - amid fears the epidemic could hit the global economy. The International Monetary Fund has already lowered its growth forecast for China in 2020 by 0.4 points to 5.6%. With China being the world’s second largest economy, this decline should cost 0.1 point of growth to global GDP.
The crisis is not only impacting global tourism and sales of consumer goods, especially luxury goods, but is also disrupting value chains, with many production sites closed or idling in China.