U.S.-Based Shah Capital Invests in Hong Kong Licensing Company
Raleigh, N.C.–based Shah Capital Fund took a 14 percent stake in Symphony Holdings, a Hong Kong–based licensor of sports-and-recreation footwear and apparel, including Pony, Haggar, Speedo and Helly Hansen.
“The current market conditions have created significant investment buying opportunities in China,” said Himanshu Shah, president and chief investment officer for Shah Capital. As you look at markets from a global perspective, Symphony Holdings has tremendous growth opportunities and is in a premier position to be a gateway to China for Western sports, activewear and fashion brands.”
According to Shah Capital, Symphony Holdings controls a2 percent share in the global athletic-shoe market.
“We have been following the company for more than three years,” Shah said. “Symphony Holdings is a tremendously undervalued franchise with many underlying operational strengths.” —Alison A. Nieder
