Aurora Italia debuts on LEAP Market

PETALING JAYA: Homegrown premium jewellery brand Aurora Italia International Bhd debuted on the LEAP Market of Bursa Malaysia Securities Bhd today.

At midday, its share price spiked to 18 sen from its offer price of 10 sen, with 871,000 shares traded.

Aurora Italia plans to expand its online store to drive the group’s growth in 2021 and beyond.

Managing director Datin Wira Yvonne Lim said the company will focus on diversifying its points of sale.

This strategy is to enhance brand awareness and broaden its customer base through the e-commerce channels and strategic distribution partnerships with prominent marketing affiliates.

“The Covid-19 pandemic has resulted in e-commerce businesses generating increased sales as people shift their spending habits towards online platforms. We saw an increase in online shopping for products including jewellery products during the movement control order,” she said in a statement.

Online stores with e-commerce infrastructure have continued to operate as normal in most markets throughout the first quarter of 2020. Online performance continues to be strong, and this channel appears highly resilient during market lockdowns.

Aurora Italia’s range of jewellery comprises 18k yellow gold, white gold and rose gold charms, bracelets, earrings and bangles. They are sold in seven countries including Malaysia, USA, UK, Indonesia, Hong Kong, Middle East (Dubai, Iran, Qatar) and Singapore.

The jewellery is sold through its own operated retail concept stores, online store, notable local and international e-commerce platforms such as PG Mall, Lazada (Malaysia, Singapore, Indonesia), Zalora (Malaysia), Etsy (UK), Shopee (Malaysia, Thailand, Indonesia, Singapore), 11Street, Reebonz (Singapore), Bukalapak, Tokopedia and Matahari Mall (Indonesia) and marketing affiliates.

Currently, Aurora Italia operates three retail concept stores in Malaysia, namely in Gurney Plaza (Penang), Mid Valley Megamall (Kuala Lumpur) and Suria Sabah (Kota Kinabalu).

Under the listing exercise, Aurora Italia has raised RM3.1 million from the placement of 30.61 million shares in the company at 10 sen per share to selected sophisticated investors.

Of the total IPO proceeds, RM1.86 million (60.8%) will be used to open three new retail concept stores in China, Hong Kong and Thailand to support its business growth.

source https://www.thesundaily.my/business/aurora-italia-debuts-on-leap-market-BY3133021