TEILOR receives over 8 million euros in financing from EximBank to further accelerate company’s development
Bucharest, 16 November 2021 – TEILOR, the chain of luxury jewelry stores present across the CEE region, received a credit line and an investment credit in the total amount of 8.47 million euros from EximBank. The capital granted by the bank will be used for the acquisition of jewelry stocks and investments in the premium setup of stores that TEILOR will open abroad.
“The credit lines received from EximBank will support us in the expansion of the TEILOR brand at an accelerated pace. We thank EximBank for the trust placed in our expansion plans outside Romania. We want to build a strong Romanian brand abroad and deliver the promised growth results to all stakeholders involved in the TEILOR story. The credit lines granted by EximBank and guaranteed by the Romanian state complement the financing we seek to raise from the capital market investors. We are in a favorable moment for our business, and we want to make the most of the available opportunities,” stated Willy Dicu, CEO of TEILOR.
Of the total amount of 8.47 million euros, 5,082,000 euros is a credit line dedicated to acquiring jewelry stocks and was granted to the company for 24 months. The rest of the amount, 3,388,000 euros, is an investment loan dedicated to setting-up stores that will open abroad. The investment loan was granted to TEILOR for 72 months.
In addition to the credit products, EximBank also issued state guarantees covering 70% of the credit line and 80% of the investment credit. TEILOR will use the investment credit according to the financed investment plan, targeting the European expansion program. The project includes the opening of 17 stores by TEILOR between 2021-2022 in nine European countries.
“As well-known supporters of the business community, we are delighted to be part of TEILOR’s success, supporting the company’s expansion strategy at the European level. EximBank continues to be close to Romanian entrepreneurs who identify investment and expansion opportunities that create the conditions for them to develop robust companies in the region. The success of such companies comes easier when they have a financial partner that has the resources and expertise to structure flexible and adaptable financial solutions,” stated Traian Halalai, Executive President of EximBank.
TEILOR is the largest fine jewelry chain in Romania with 56 brick-and-mortar stores, out of which six stores are TEILOR Exclusive, offering clients limited series of handmade and carefully selected jewelry inlaid with diamonds and precious stones. By the end of 2021, the TEILOR network will reach 62 stores, of which 53 are based in Romania, four in Poland, three in Bulgaria, and two in Hungary. Besides the investments in brick-and-mortar stores, the company is considering additional investments to develop its online platforms further to enhance customers’ omnichannel experience. TEILOR currently operates five e-commerce platforms – teilor.com, teilor.ro, teilor.hu, teilor.bg and teilor.pl.
TEILOR is part of TEILOR Holding, a group of companies including Teilor Invest Exchange and the financial lending company, Invest Intermed GF IFN. The group plans to carry out a private placement for corporate bonds with an estimated value of 45 million lei by the end of the year. More than half of the capital raised by TEILOR Holding will be directed to the TEILOR luxury jewelry store chain and will be used to expand the store network in Romania and Europe, as well as for investments in the eCommerce platform. Following the placement, the intention is to list the bonds on the SMT – AeRO market of the Bucharest Stock Exchange.
TEILOR is an international chain of luxury jewelry stores with 23 years’ tradition. Present in Romania, Poland, Hungary and Bulgaria, TEILOR has 56 brick-and-mortar stores and a robust online presence through its e-commerce platforms teilor.com, teilor.ro, teilor.pl, teilor.hu and teilor.bg. TEILOR’s collections include gold jewelry as well as unique jewelry inlaid with diamonds and precious stores tailored to customer’s desires.
EximBank is a specialized institution that is actively involved in supporting and promoting the Romanian business environment. Its financial instruments are dedicated exclusively to the corporate segment. Any company can access them, whether an SME or a large company, conducts international transactions, or addresses the domestic market. The companies also have at their disposal a competitive portfolio of the treasury, cash management, trade finance, and factoring products, which complete the financing and guarantee offered. At the same time, as it acts as a state agent on the guarantees and insurance market, EximBank is one of the tools through which public funds, made available by the Romanian state, support the sustainable development of the economy.