Mekong Capital inks fourth investment with jewelry retailer

May 6th at 15:15
06-05-2017 15:15:21+07:00

Mekong Capital inks fourth investment with jewelry retailer

Mekong Capital on Friday announced that its Mekong Enterprise Fund III Ltd (MEF III) has committed to invest US$7.6 million in Ben Thanh Jewelry Joint Stock Company (BTJ).

 

This is the fourth investment deal inked for MEF III since its launch in May 2015.

The new investment is expected to help Ben Thanh Jewelry launch a new chain of fine jewelry retail in Viet Nam under the name PRECITA.

“BTJ used to be a wholly state-owned company specialising in manufacturing, processing, importing and exporting jewelry. Following its equitisation in 2003, it has achieved great progress and is now choosing MEF III as a strategic investor because of the added value that the fund and its management company, Mekong Capital, will bring to our company,” Shipra Jain, CEO of Ben Thanh Jewelry, said in a statement.

Founded in 1987, Ben Thanh Jewelry, a member of Ben Thanh Group, is one of the oldest gold & gem stone retailers in Viet Nam. In 2016, the company recruited global professional managers to join its management team to develop a new chain of fine jewelry retail named PRECITA.

PRECITA, which focuses on latest designs imported from large jewelry markets and Western trends along with exclusive local designs, aims to redefine industry standards of value to customers and product integrity.

Launched in May 2015, MEF III is a private equity fund with $112.5 million in committed capital. It focuses on investments in Vietnamese consumer-driven businesses such as retail, restaurants, consumer products, and consumer services, with targets of $6-15 million on each investment (both minority and buy-out deals).

In March, Mekong Capital said it would make four new investments in the first half of 2017, targeting unlisted firms in the retail, education and transport sectors.

bizhub



NEWS SAME CATEGORY

Vinatex’s profit after tax down in Q1

Viet Nam National Textile and Garment Group (Vinatex) recorded after-tax profit of VND126.3 billion (US$5.6 million) in the first quarter of this year, down 11.62...

Tourism investment to continue in VN

Based on their strong growth in recent years, the tourism and hospitality sectors are predicted to develop rapidly and attract plenty of investment, according to...

State Bank to aid pig farmers

The State Bank of Vietnam (SBV) issued an official document asking credit institutions to support borrowers in the livestock industry, especially pig farmers in...

Garment-textile businesses seek to penetrate Russia

With the demand to import more than US$10 billion worth of apparel products each year, Russia is a market with potential for Vietnamese garment-textile businesses.

Big investors pour money into agriculture, organic food

The repeated alarms about unsafe food has brought great opportunity to several big investors, who have been pouring money into organic food projects.

Gyeongsan, Da Nang to co-operate in cosmetics

Da Nang and South Korean city of Gyeongsan have inked a Memorandum of Understanding (MoU) on development and co-operation in the cosmetic industry.

Ly Son to develop organic garlic farm

The Island district of Ly Son in the central province will start constructing its first organic garlic farm, with a total investment of VND4 billion (US$177,000).

Waste-to-power is twice sustainable

Foreign investors have made their ambitions clear for building green energy waste-to-power projects in Vietnam.

Vietnam refinery permitted to discharge wastewater into sea

A north-central Vietnamese province has given the green light for an under-construction oil refinery to release treated wastewater directly into the sea for the...

Textile sector growth surges

The textile and garment sector enters the second quarter (Q2) of this year with promising signs from new import markets, said General Director of the Viet Nam...


MOST READ


Back To Top