U.S. Investment Firm Becomes Major Stakeholder Of Asian Footwear And Apparel Conglomerate

Citing a buying opportunity "created by current market conditions," a Raleigh, NC-based investment firm, Shah Capital Management, announced it has become an institutional investor in Hong Kong-based Symphony Holdings.

The firm said it has taken a 14 percent stake in the footwear and apparel company.

Symphony Holdings is a marketer, licensor and licensee of sports and recreation footwear and apparel, with interests in brands including Pony, Haggar, Speedo, Mango, Helly Hansen, Berghaus and JFT Holdings (a joint venture with Toyota Tsusho). It claims control of "about two-percent of the worldwide athletic shoe market."

"The current market conditions have created significant investment buying opportunities in China," said Himanshu Shah, founder, 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."

Shah characterized Symphony Holdings as "a tremendously undervalued franchise with many underlying operational strengths."

Shah Capital Management provides portfolio management services for both institutional investors including endowments, foundations, family offices, retirement plans and high net worth individuals. Himanshu Shah founded the firm in 2005.

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