Then they listed Singapore-headquartered Pixie Group on the Australian Securities Exchange in Dec 2015.
Now, the Pixie management are ready for a high-profile move -- acquiring Pixie Group Hong Kong (Pixie HK), which holds exclusive rights, for five years, to operate Tonino Lamborghini club in Singapore and the Asia Pacific region.
Lamborghini is, of course, the ultra-luxurious car brand. Tonino is the son of the Lamborghini founder.
Under the Tonino Lamborghini brand is already a wide range of For a number of years, they managed nightlife and clubbing businesses. non-automotive luxury products such as apparel, hand-built luggage, model cars, furniture, bicycles, golf accessories, watches, pens, eyewear, perfumes, etc.
There are also Tonino Lamborghini hotels and lounges -- but not nightclubs. Until now.
The management of Pixie Group is ready to achieve a world first with Tonino Lamborghini clubs. And the first will open in Clarke Quay, Singapore, very soon -- Oct 20.
The Lamborghini family, no less, and many of the Who's Who in Singapore will grace the occasion at the 8,000 sq ft club which, doubtless, will exude luxury and class.
|The clubs will be the first of its kind in the world. We are talking about Italian design environment. We are talking about food & beverage and entertainment value in the same venue, and product placement of Tonino Lamborghini merchandise, coffee, tea, chocolates, wines, vodka, energy drinks. We are consolidating all that under one brand, and putting in the clubbing experience."
-- Jonathan Zhang, head of business development & communications, Pixie Group.
(Photo by Leong Chan Teik)
Pixie Group currently has a service agreement to operate Tonino Lamborghini clubs.
To enjoy more upside, it has agreed to acquire a 51% stake in Pixie HK from V Capital Investments, which holds an interest of 60% in Pixie HK.
"Working with partners, Pixie HK originated the idea of Tonino Lamborghini clubs and we were appointed to manage and operate," said Jonathan Zhang, head of business development and communications at Pixie Group.
The consideration payable by Pixie Group for the 51% stake is A$2 m in cash and A$2 m worth of shares in Pixie Group to be issued at market value as determined by Pixie Group (subject to a minimum issue price per share of A$0.05).
"The Tonino Lamborghini brand invokes a lot of emotions and enjoys high brand recall. We will be tapping into a rapidly growing market in terms of population and affluence," said Mr Zhang.
The completion of the acquisition is conditional on capital raising -- which is why the management have been on roadshows in Australia and Singapore to meet investors.
|Stock price||5 AUD cents|
|52-week range||3 – 9 AUD cents|
|Market cap||A$33 million|
|Shares outstanding||682.5 million|
|Total free float||26.74%|
|Shares in escrow||50 m|
|Source: Bloomberg, Company|
"The clubs will be the first of its kind in the world. We are talking about Italian design environment. We are talking about food & beverage and entertainment value in the same venue, and product placement of Tonino Lamborghini merchandise, coffee, tea, chocolates, wines, vodka, energy drinks.
"We are consolidating all that under one brand, and putting in the clubbing experience."