To revolutionize the entry-level jewelry market in the Philippines, Cebuana Lhuillier has announced a strategic partnership with Sparkles.ph, an innovative startup jewelry company. Through this partnership, both companies aim to leverage their combined strengths and become more appealing to budget-conscious consumers who are looking for affordable yet elegant accessories.
To that end, Cebuana Lhuillier President and CEO Jean Henri Lhuillier, provided an equity investment and Credit Line to Sparkles.ph amounting to USD 2 million. This Pre Seed funding for the startup will be instrumental in enhancing Sparkles.ph’s production capabilities, expanding its product line, and boosting its market presence. This is a demonstration of strong commitment to the startup’s vision and potential. This investment is expected to provide Sparkles.
segment has seen increasing demand for affordable yet quality jewelry, a niche that Sparkles.ph has adeptly filled. “We see a tremendous opportunity in the entry-level jewelry market and believe that Sparkles.ph is well-positioned to lead this segment. Our partnership will not only provide the necessary capital for growth but also integrate Sparkles.ph into our ecosystem, creating value for our customers and stakeholders,” said Jean Henri Lhuillier.
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Source: BusinessMirror - 🏆 19. / 59 Read more »