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Hong Kong's Plukka Sets $7 Million IPO to Fund U.S. Expansion
Sep 2, 2015 2:39 AM
By Rapaport News
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RAPAPORT... Hong Kong jeweler Plukka will list its shares in Australia as it raises $7.1 million (AU$10 million) to expand into the U.S., according to Chief Executive Officer Joanne Ooi.
Plukka is set to be listed on the Australian Stock Exchange in October, Ooi told CNBC. A former creative director at Chinese-inspired luxury fashion brand Shanghai Tang, Ooi founded Pukka in 2011 offering a catalogue of made-to-order lines.
The brand has focused online for its first three years. Iit opened a single retail outlet in Hong Kong’s Landmark Atrium earlier this year. Unlike many Hong Kong based design and retail businesses, it is targeting expansion in the west, rather than Mainland China. She described U.S. expansion as “the most economically efficient mode of branding and marketing a global luxury brand.”
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Tags:
Hong Kong, ipo, Rapaport News
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