Miami — Art Miami Group has been purchased by Informa Markets for an undisclosed sum. The Art Miami portfolio, which encompasses six art fairs across the U.S., was sold by owner Nick Korniloff and two other partners.
“I am extremely excited for the future of Art Miami and its sister fairs. Art Miami will continue to grow alongside the city of Miami as a world-class event and cultural destination to the global art collecting community,” Korniloff, who now holds the title Informa Markets Executive Vice President, told Trade Show Executive. “The acquisition of Art Miami is a tremendous compliment to the hard work and effort shared between our team, our clients and the communities that the fairs service and support.”
This year marks the 30th anniversary of the Art Miami show, which Korniloff and partners purchased in 2009, building a portfolio of shows since then that includes Art New York, CONTEXT, Aqua Art Miami, Palm Beach Modern + Contemporary and Art Wynwood. Over the past year, these shows drew more than 400 dealers and 300,000 attendees.
“Under Informa Markets there will be beneficial synergies that will yield a larger qualified art buying audience along with vital marketing, customer service, operational resources and new guest amenities,” Korniloff said. “These new resources will elevate our family of fairs while providing essential benefits for our staff, exhibitors and their artists, and our attending audience, comprised of collectors, curators, museum professionals, art advisors, designers sponsors and host community members of our fairs.”
Informa Markets, a trading division of London-based Informa PLC, operates more than 550 events and exhibitions around the world, including Art Toronto, an international fair for modern and contemporary art and one of the most high-profile annual art events in Canada. Two years ago, Informa acquired Yachting Promotions Inc., producers of the Fort Lauderdale International Boat Show, Yachts Miami Beach and the Palm Beach International Boat Show.
Art economist Clare McAndrew told artnet News that Informa will likely expand Miami Fair group’s field of exhibitors and buyers, possibly attracting crossover buyers from the company’s Florida boat shows. “A company like this with broad interests could be quite a good prospect for new or different exhibitors if it can show it has global outreach into new markets and new pools of buyers.”
Reach Nick Korniloff at (561) 745-5040 or email@example.com.