ITE rebrands to Hyve Group
ITE Group has announced a name change and new brand identity: Hyve Group plc. The company says the rebrand reflects the evolution of the Group’s business resulting from its Transformation and Growth programme (TAG) announced in May 2017 and now nearing completion.
The vision is to create the world’s leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for customers, a release announcing the name change, 20 September read. “Through the TAG investment we have built a dynamic scalable platform, improved processes and enhanced systems, completed the acquisitions of Ascential Events and Mining Indaba, as well as the disposal or closure of over 150 events. These significant developments have led to the creation of a stronger and more diversified portfolio, with a focus on market-leading events,” the Group statement said.
The company in good marketing speak describes Hyve Group plc as “a next generation global events business whose purpose is to create unmissable events, where customers from all corners of the globe share extraordinary moments and shape industry innovation”.
Hyve Group now claims it is a fundamentally different business and has transformed into:
- A global presence not purely focused on emerging markets
- A centralised operating model not a decentralised federal organisation
- A premium product business not a geographic market-share led company
- A Group of market-leading events rather than a broad portfolio of mixed quality
Unveiling the new brand in London, Hyve Group plc CEO Mark Shashoua, CEO, said: “Today, we launch our new brand identity, Hyve, to move us into the future, with a clear vision, well defined strategy and a renewed energy. We have transformed the Group into a next generation global events business, and our new name is a better reflection of who we are now and captures our ambitions for our future.”
Shashoua added that, since he took the helm in 2016, the Group had fundamentally changed from a portfolio of decentralised, emerging markets events into a global business, focused on running market-leading events, wherever they may be in the world.
“We are now in a better position than ever before,” the CEO said. “Following four years of decline, FY18 was the second consecutive year of like-for-like growth, including double-digit growth from our Top 10 events, and was the first year of growth in both volume and yield since 2014.
“We believe our model gives us a distinctive competitive edge as customer needs evolve and we aspire to set the standard for our industry.”
Trading in the company’s shares will commence under the new name Hyve Group plc and the new ticker code ‘HYVE’ with effect from 24 September 2019.