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TEILOR Holding debuts on the Bucharest Stock Exchange with its first bonds worth RON 45mn
TEILOR Holding, a group of companies that includes the chain of luxury jewelry stores TEILOR, Teilor Invest Exchange and financial lending company Invest Intermed GF IFN, made its debut today on the BVB, December 21, with its first bonds.
The capital attracted from investors, of RON 45mn, will be used for the accelerated development of the three businesses in the group, respectively for the expansion of the network of TEILOR jewelry stores in Romania and Europe, but also for increasing the number of new agencies operating under the umbrella of Teilor Invest Exchange and Invest Intermed GF IFN. The two issues of TEILOR bonds, in lei and euros, are traded on the Multilateral Trading System under the stock tickers TEI26 and TEI26E.
‘This year, Bucharest Stock Exchange was the financing option for a number of 25 entrepreneurial companies that listed bonds, as well for 23 companies that choose to go public through private placements or IPOs. TEILOR is one of these companies, with a history of 20 years started in Pitesti. Today TEILOR lists corporate bonds of RON 45mn, the largest issues of a company on the Multilateral Trading System. I wish them a warm welcome and good luck’, said Radu Hanga, President of the Bucharest Stock Exchange.
‘Today’s listing marks an important milestone for TEILOR Holding. Today, an entrepreneurial dream that started 20 years ago is embarking on an ambitious international expansion journey. Our goal over the years has remained constant - to always care for our customers, offering a personalised experience and remarking ourselves with a quality product and unparalleled attention to detail. Thanks to the capital offered by the Bucharest Stock Exchange, these TEILOR values will be now offered to clients across Europe. The future of TEILOR is bright, and I would like to use this opportunity to thank, on behalf of the TEILOR Holding management team, our amazing TEILOR team, which consists of over 700 employees who each day deliver to our clients the unique TEILOR experience. I also want recognise our partners for their continued support and partnership in building our business. Finally and most importantly, a brand without customers is nothing but a dream. Therefore, I want to thank all TEILOR customers who have helped us grow organically over the last 20 years, for their loyalty and trust, and I want to assure them that they will always remain at the heart of our business’, said Florin Enache, founder of TEILOR Holding.
‘Our solid track record of growth has made us number one on the Romanian jewellery market. Together with BVB investors, we will continue our client-centric business model, expanding TEILOR Holding businesses abroad and locally through brick-and-mortar stores as well as our online platforms. Our target is to reach 1 billion lei in sales by 2026 when the bonds that we are listing today on BVB will reach maturity. The success of the corporate bonds private placement, the largest in the history of the AeRO market, is a confirmation of the brand notoriety of TEILOR as well as offers us validation of our development plans and we thank all our investors for their trust’, said Mircea Varga, Board Member at TEILOR Holding.
The two private placements, one in RON and another in EUR, took place in November 2021, with the participation of 139 investors. The company issued 140,035 corporate bonds in RON with a nominal value of RON 100 per bond, 5-years maturity and a fixed interest rate of 8,25%. The euro-denominated corporate bonds have a nominal value of EUR 100 per bond, 5-years maturity and a fixed interest rate of 5,75%. The private placement and the listing were made with the support of BT Capital Partners, while Cornerstone Communications will assist TEILOR Holding as an Authorized Advisor after listing.
‘Our mission at BT Capital Partners is to work with visionary Romanian entrepreneurs to finance their development plans. With a remarkable brand built over the last 20 years, supported by a team of over 700 professionals, TEILOR is one of Romania’s most prominent entrepreneurial stories. We are thrilled to have partnered with TEILOR Holding and raised capital for the company’s inaugural corporate bonds issuance on the Bucharest Stock Exchange’s AeRO market, and we look forward to continuing, together, this journey on the Romanian capital market’, said Daniela Secara, CEO at BT Capital Partners.
‘Since the very first TEILOR ad featuring Catrinel Menghia back in 2015, I have always been attracted to the brand - the unique vision, attention to detail but also creativity which is visible in every single image taken and shared with its customers. Therefore, to see TEILOR Holding make its first steps on the Bucharest Stock Exchange to finance international expansion is a true joy. I am thrilled that together with the Cornerstone Communications team, we were part of this unique project, and we will continue to be alongside TEILOR in the coming years, as the brand continues to grow, winning the hearts and minds of customers across Europe’, said Zuzanna Kurek, founder at Cornerstone Communications.
TEILOR Holding is an entity established in 2021, uniting under one umbrella all businesses of Rumanian entrepreneurs Florin Enache (93.1%) and Geanina Enache (6.9%). In 2020, the three companies generated a combined turnover of RON 192.2mn and a net profit of RON 30.6mn. Between 2018 and 2020, the combined turnover increased 35.5% due to the expansion and development strategy implemented at the level of all three companies. In the first six months of 2021, the companies from TEILOR Holding registered a combined turnover of RON 121.4mn, an 84% surge compared to the first half of 2020.
(Photo:bvb.ro)