Shah Capital Fund Takes 14% Stake in Footwear and Apparel Powerhouse
RALEIGH, N.C.--(BUSINESS WIRE)--Shah Capital Fund became the largest institutional investor in Hong Kong-based Symphony Holdings this week.
Symphony Holdings is a marketer and licensor of sports and recreation footwear and apparel, with stakes in worldwide consumer brands like Pony, Haggar, Speedo, Mango, Helly Hansen, Berghaus, JFT Holdings (Toyota Tsusho) and controls about two-percent of the worldwide athletic shoe market.
"The current market conditions have created significant investment buying opportunities in China,” said Himanshu Shah, president and chief investment officer of Shah Capital Management. “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.”
“We are pleased to see Shah Capital as a large investor in Symphony Holdings,” said Dr. Ting Ho, executive director of Symphony Holdings. “We look forward to working with them in a constructive manner to enhance value for all stakeholders.
“Symphony Holdings is a tremendously undervalued franchise with many underlying operational strengths,” said Shah. “We have been following the company for more than three years, and believe fits perfectly into our investment strategy.”
About Shah Capital Management, Inc.
Shah Capital Management is an investment management firm based in Raleigh, NC. The firm provides portfolio management services for both institutional investors including endowments, foundations, family offices, retirement plans and high net worth individuals. Shah Capital Founder and President, Himanshu H. Shah, launched the firm in January 2005.