Alan Fang, chief executive of Novo Holdings, launched Novo Concepts, one of China's biggest multi-brand fashion retailers, in 2003. He followed in 2010 with Novomania, an independent fashion and accessories trade fair.
Fang's decision to open multi-brand stores — 30 new locations in 2013 alone — is, by his own admission, contradictory to current Chinese consumer behaviour, which he believes is still "not that sophisticated. They don’t ask themselves ‘why am I wearing this that way.'"
Fang’s other venture, Novomania, was one of the largest independent fashion trade fairs in China. Fang’s conviction that “multi-brand stores will become the solution for niche and independent brands entering China,” led him to provide an arena to enter the market, as well as the stores in which to sell the merchandise.
Fang intended for Novomania to be the dominant fashion trade fair for all of Asia. “To be the one tradeshow for all [of] Asia you have to have a massive market to tap into and only China has it. We want to invite the best buyers from around the globe to see the world’s best brands.”
Fang comes from one of Hong Kong’s premier fashion families, who owns Pringle of Scotland and founded the Toppy Group.
In 2013, Novomania was acquired by events giant UBM Asia, who later cancelled the event for good in October 2014.
Fang later transitioned from retail into racing, becoming chief executive at Formula Electric Racing Hong Kong in 2016.