Luxury market grows strongly, "Euro" prepares for IPO to add capital to expand branches
Euro Creations Public Company Limited or EURO is ready to sell IPO shares after the SEC Office approves the securities offering application form. Get ready for the high growth potential of the luxury market by investing in the expansion of 3 “Luxurious & High Quality Living” showrooms in prime locations.
Kevin Gambir, CEO of Euro Creations Public Company Limited, revealed that the luxury customer segment is a market with good growth potential and is relatively less affected by economic fluctuations because it has high purchasing power and is willing to spend if it is satisfied with the products and services.
Meanwhile, data from CBRE Research indicates that a total of 2565 units of luxury and super-luxury home projects in Thailand will be launched in 1,218, the highest in the past seven years.
“Euro Creations” is the official importer and distributor of leading luxury brands such as Gessi, Molteni & C, Cassina, Giorgetti, Natuzzi Italia, Frette, Technogym, etc.
With a focus on Italian brands, the company has also gained the trust of B2B clients, including luxury project developers such as Mulberry Grove The Forestias Villas, InterContinental Hua Hin Resort, and Four Seasons Hotel Bangkok, as well as individual B2C luxury clients.
As a result, the company is now known in the "Luxurious & High Quality Living" business and has strong performance. In the first nine months of 2023, it generated revenue from sales and services of 958.2 million baht, an increase of 33.0% from the same period of the previous year, and a net profit of 138.6 million baht, an increase of 44.1% from the same period of the previous year.
In addition, it is investing in expanding 3 new showrooms, 2 in Thonglor and 1 in Phuket, from the current 5 showrooms in Thonglor, Siam Paragon, Crystal Design Center, Ekamai and Central MBA. It will allow customers to experience the product for a better experience.
However, after the company submitted an application for permission to offer securities and a registration statement for securities offering (filing) to the SEC Office in order to offer common shares to the public for the first time (IPO).
Most recently, the application form for permission to offer securities for sale has been received from the SEC. Currently, it is preparing to offer IPO shares and be listed on the Market for Alternative Investment (MAI).
As of September 30, 2566, the company has a registered capital of 152.50 million baht, divided into 305 million common shares with a par value of 0.50 baht per share, with a paid-up registered capital of 125 million baht, divided into 250 million common shares. and will offer no more than 78 million IPO shares.
Divided into 55.0 million additional common shares offered for sale by the Company and 23.0 million existing common shares offered for sale by European Design Holdings Limited.
To be used to invest in the construction of 3 new showrooms: Thonglor Soi 1, Thonglor Soi 5 and Phuket, repay loans from financial institutions for the construction of 3 new showrooms and repay short-term loans for working capital. and as working capital for business and business expansion
Read related news:
