Mekong Capital invests in Ben Thanh Jewelry
Mekong Capital’s subsidiary Mekong Enterprise Fund (MEF) III has invested $7.6 million in Vietnamese jeweller retail chain Ben Thanh Jewelry.
The funds will be used to help launch a new fine jewellery retail chain called Precita.
Founded in 1987 as a state-owned company, Ben Thanh Jewelry was privatised 14 years ago, and has achieved solid progress since.
The chain says it welcomes the added value MEF III can bring as a strategic investor.
“Looking at some of the successful investments Mekong Capital has had in the past, we are very positive that this relationship will bring a new beginning for Ben Thanh Jewelry and take it to the new horizons of success and growth,” said Shipra Jain, CEO.
As one of the oldest companies in gold and gem stone retail in Vietnam, Ben Thanh Jewelry focuses on the southern market with seven outlets in Ho Chi Minh City.
Launched in 2015, MEF III has closed three other Vietnamese investment deals, in restaurant operator Wrap & Roll, ABA Logistics and pawn shop F88.
Mekong Capital has already taken a strategic stake in another Vietnam jeweller PNJ.
Last year, PNJ – Phu Nhuan Jewellery – reported US$178 million in first half sales.