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S. Korean fashion house Nature Holdings eyes 60 Billion Won IPO to fund global expansion
Lifestyle outdoor firm Nature Holdings will be offering around 1.2 million shares at 45,000 to 50,000 won each for its initial public offering at Kosdaq by the end of this month to raise 60 billion won to be used for its overseas expansion.
The company intends to set up joint ventures in countries such as the US, Japan, India, China, and Australia, from the second half of this year.
The firm will build an additional logistics center and a headquarters and strengthen its online channels.
The exact share price will be determined Thursday before Nature Holdings receives investor orders on July 15-16.
The firm's CEO Park Young-jun said they intend to be the "greatest lifestyle outdoor company."
The 16-year-old Nature Holdings is known for its National Geographic licensed fashion brand.
The company has built a loyal customer base in their 20s and 30s with a portfolio ranging from shoes, clothing, luggage, backpack to kids apparel.
National Geographic is a joint venture between National Geographic Society, National Geographic Partners, and The Walt Disney Company.
The company also has licensing agreements with US fashion house Vera Wang, US automobile brand Jeep, and theNational Football League.
Despite the adverse effects of the pandemic to the global apparel industry, the company is confident of reaching its highest profit this year.
Nature Holdings marked sales and operating profits of 49.9 billion won and 8.1 billion won, this year, up by 47.2 and 50 percent from last year.