Investment in House of Kieraya (“HoK”)
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 House of Kieraya ("HoK")
06 October 2021
Symphony International Holdings Limited (LSE: SIHL) is pleased to announce an investment in House of Kieraya ("HoK"), a pan-India online furniture and lifestyle brand.
The funding round, led by Symphony, included investments from Signet family office and The Parekh family office of Nilkamal. The investment by Symphony amounted to less than 5% of its NAV.
The umbrella brand, HoK, includes Furlenco, one of India's largest furniture and lifestyle subscription businesses, and Furbicle, a brand focused on sustainability-led remanufactured furniture.
The fresh capital will go toward the growth of HoK's existing digital-first brands and in building new consumer offerings.
Ajith Karimpana, Founder and CEO of HoK said: "Our goal is to create brand affinity among consumers who are at different stages of their lives, with changing lifestyle needs. The funds we have raised will help us reach our goal of dominating the furniture segment through additional investment in our design and technology elements."
Anil Thadani, Chairman of Symphony's Manager, said: "We are delighted to be part of the new consumer growth story in India through HoK's tech-enabled consumer offerings, with sustainability at the heart of the brand. We look forward to our partnership with Ajith and his team as they continue to innovate their way into being one of the top furniture brands in India."
About House of Kieraya
House of Kieraya (the corporate brand of Kieraya Furnishing Solutions Private Limited) holds Furlenco, UNLMTD by Furlenco, and Furbicle under its umbrella. HoK's vision is to become India's largest tech-driven online furniture and lifestyle company with the promise of sustainability. It is committed to providing access to high quality, well-designed furniture and home appliances in a way that limits overproduction and over utilisation of scarce resources. HoK's expertise in the online rental space (Furlenco), subscription commerce (UNLMTD by Furlenco), and re-commerce (Furbicle) gives it the unique ability to achieve circularity in furniture, and work towards sustainability in the furniture industry.
For further information:
Symphony Asia Holdings Pte. Ltd. +65 6536 6177
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.
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, education and other sectors, including businesses that are technology-enabled and based 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 35 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