Investment in August Jewellery Pvt Ltd

RNS Number : 4945A

Symphony International Holdings Ltd

30 September 2020

 

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

 

Symphony International Holdings Limited ("Symphony" or "SIHL") Announces Investment in August Jewellery Pvt Ltd ("Melorra")

30 September 2020

Symphony International Holdings (LSE: SIHL) announces an investment in August Jewellery Pvt Ltd, the holding company for online gold fast-fashion jewellery brand, Melorra.

The US$12.5 million funding round, led by Symphony, included investments from Lightbox Ventures, Alteria Capital, and certain family offices from India, Singapore & Indonesia.

Melorra is a designer and manufacturer of lightweight, trendy gold jewellery designed for daily wear, with the Indian millennial female as its target market. An online only retailer, Melorra's products are priced at an average of about INR 35,000 (approximately US$470), making them an affordable purchase for the demographic. The company plans to open a limited number of offline "Experience Centres" in the near future.
 

This round of funding will go toward technological and product innovation as well as brand marketing, to position Melorra as the fashion jewellery brand of choice in India 

Anil Thadani, Chairman of Symphony's Manager, said: "Melorra is transforming the fast fashion jewellery segment in India and has established a strong brand in a short period of time. The company's focus on being the leader in everyday fine fashionable jewellery for millennial women, and its disruptive business model stands out in the Indian e-commerce space. We are excited to partner with Saroja Yeramilli and her team as they continue to grow the business going forward." 

Please see the link at: https://www.entrepreneur.com/article/356597    

You can explore the Melorra product at: www.melorra.com .

For further information:

Symphony Asia Holdings Pte. Ltd.  

Anil Thadani  [phone]

Rajgopal Rajkumar [phone]

Dealing codes

The ISIN number of the Ordinary Shares is VGG548121059, the SEDOL code is B231M63 and the TIDM is SIHL.

The LEI number of the Company is 254900MQE84GV5DS6F03.

About Symphony

Symphony International Holdings Limited (LSE:SIHL) is a London listed strategic investment company that invests in consumer related businesses, primarily in the healthcare, hospitality, lifestyle (including branded real estate developments), logistics and education sectors predominantly in Asia. It offers a way for investors to gain exposure to rising disposable incomes and wealth in fast growing economies. Symphony's objective is to provide superior capital growth by investing in high quality companies and form long-term business partnerships with talented entrepreneurs and management teams. Symphony's investment team has a broad range of expertise - many of its professionals have been working in Asia for more than 30 years. For more information please visit our website at www.symphonyasia.com.

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.

End of Announcement

 

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