New York-based luxury curated marketplace, AHAlife lists on the ASX
Announcement posted by Kirkwoods Corporate Relations 31 Jul 2015
Chief Financial Officer appointed; Trading update for June Quarter, 2015; Launch of gifting app set for fourth quarter, 2015
Sydney, Australia: AHAlife Holdings Limited (ASX: AHL or AHAlife), the New York-based technology business that operates a global curated luxury marketplace today lists on the Australian Securities Exchange (ASX). This follows a successful General Offer of shares that raised $20.4 million (before costs) to fund the company’s strategic growth plans across its existing markets, including Australia. The Offer was underwritten, to $19.9 million, by Blue Ocean Equities.
AHAlife is a technology-led, sophisticated digital marketplace platform that enables high quality designers and artisans to reach a global consumer. Founded in 2010, AHAlife generates revenue from transactions without physically owning stock or having a costly logistics chain – a ‘digital marketplace drop-ship model’.
AHAlife is led by CEO and Founder, Shauna Mei, and President and Chief Technology Officer Sachin Devand. They have both joined the Board of AHAlife.
AHAlife will be Chaired by Mike Hill who has more than 20 years’ experience in a range of corporate and private equity transactions across Australia and the UK. Mr Hill is currently the Chairman of ASX-listed companies rhipe Ltd, HJB Corporation Ltd and Modun Resources Ltd.
Continuing on the board as a non-executive director will be Mike Everett, who brings to the group more than 25 years of capital markets and advisory experience as Australian co-head of financing group at Goldman Sachs. Mr Everett has gone on to establish Reunion Capital Partners and is currently a non-executive director of rhipe Ltd and HJB Corporation Ltd.
Shauna Mei said: “We founded this business only five years ago, passionate about building a platform that would enable independent designers and artisans to compete against the mass-scale of mainstream retail such as eBay, Amazon and ETSY.”
“We’ve had amazing success in a short period of time in building a meaningful technology platform for growth and today’s ASX-listing is a major step in taking the business to its next stage of development.”
“We are very excited about becoming an ASX listed company and look forward to delivering our ambitious plans for all our shareholders.”
Appointment of Chief Financial Officer
AHAlife today announced the appointment of Stuart Halls as the group’s Chief Financial Officer. An accomplished CFO with 18 years' experience in senior finance roles, Mr Halls joins AHAlife from Ironbridge Capital where, since 2009, he has worked across many of the portfolio companies to advise on due diligence, growth strategies and the eventual exit of several businesses, most notably the successful sale of iNova Pharmaceuticals. Mr Halls recently spent a number of years as CFO of Recreational Tourism Group where he delivered a successful turnaround and sale in April 2015. Stuart replaces Mike Dertony who has decided to pursue other interests.
Trading update, June Quarter 2015
Ahead of its listing, AHAlife is also today pleased to provide a trading update that comprises continued strong growth in revenues for the June quarter 2015 and strong growth in registered members and registered brands over the past 12 months. This growth has been largely generated organically and achieved prior to the benefits of capital injection that the IPO will provide to AHAlife.
Registered members rose 61% over the year to 30 June 2015 from 214,000 to 345,000, and up 14% from the 303,000 detailed in AHAlife’s prospectus as at April 2015. Further, over the 2015 fiscal year, the number of registered brands available on the AHAlife platform has grown 34% to now total 2604 (as at 30 June 2015).
For the June quarter of 2015, AHAlife’s revenues have grown by 52% (versus June quarter 2014).
These metrics represent strong growth and momentum of the AHAlife platform.
Launch of gifting app set for Q4 2015
AHAlife also announced today that it expects to launch its gifting app in the fourth quarter of 2015. The gifting app has been in development since March of this year and will further leverage AHAlife’s proprietary technology platform and the strength of the group’s catalogue of brands.
The global gift card industry has been estimated to have generated $124 billion in total sales in calendar 2014 and AHAlife is uniquely positioned to participate as a disruptor in this fast-growing market segment.
AHAlife Chairman Mike Hill said: “We believe that the growth prospects for AHAlife are significant. AHAlife generates product margins of 50%, before shipping and promotional activities from an average customer order value of approximately US$180. Driving new customer acquisition over the extensive brand catalogue, without needing to hold any stock is an impressive business model that would otherwise take many years and significant investment to replicate or attempt to displace.”
The online channel for luxury personal goods is estimated to be worth approximately €12 billion (or approximately 5% of the total €223 billion market) and growing at four times the rate of the overall category.
AHAlife’s investor and advisor network spans the luxury retail, eCommerce, media, technology and well-being lifestyle which are key enablers to its business model. They include the former CEO of Saks Fifth Avenue, Steve Sadove; author Deepak Chopra; founder of New York Fashion Week Fern Mallis; CEO of William Morris Endeavour and IMG, Ari Emanuel; former Chairman of LVMH, Renaud Dutreil; and Co-Founder of Binary, Jon Teo.
Strategic Investors also include Rakuten (among the Top 3 eCommerce Companies in the world and the largest in Japan) and VIPShop.com (China’s leading Online Discount Retailer for Brands).
AHAlife will commence trading on the ASX today at 12.00pm under the ticker code, AHL.
For further information, contact:
Blue Ocean Equities, Lead Manager and underwriter on +61 2 8072 2988
AHAlife is a technology-led, sophisticated digital marketplace platform that enables high quality designers and artisans to reach a global consumer. Founded in 2010, AHAlife generates revenue from transactions without physically owning stock or having a costly logistics chain – a ‘digital marketplace drop-ship model’.
AHAlife is led by CEO and Founder, Shauna Mei, and President and Chief Technology Officer Sachin Devand. They have both joined the Board of AHAlife.
AHAlife will be Chaired by Mike Hill who has more than 20 years’ experience in a range of corporate and private equity transactions across Australia and the UK. Mr Hill is currently the Chairman of ASX-listed companies rhipe Ltd, HJB Corporation Ltd and Modun Resources Ltd.
Continuing on the board as a non-executive director will be Mike Everett, who brings to the group more than 25 years of capital markets and advisory experience as Australian co-head of financing group at Goldman Sachs. Mr Everett has gone on to establish Reunion Capital Partners and is currently a non-executive director of rhipe Ltd and HJB Corporation Ltd.
Shauna Mei said: “We founded this business only five years ago, passionate about building a platform that would enable independent designers and artisans to compete against the mass-scale of mainstream retail such as eBay, Amazon and ETSY.”
“We’ve had amazing success in a short period of time in building a meaningful technology platform for growth and today’s ASX-listing is a major step in taking the business to its next stage of development.”
“We are very excited about becoming an ASX listed company and look forward to delivering our ambitious plans for all our shareholders.”
Appointment of Chief Financial Officer
AHAlife today announced the appointment of Stuart Halls as the group’s Chief Financial Officer. An accomplished CFO with 18 years' experience in senior finance roles, Mr Halls joins AHAlife from Ironbridge Capital where, since 2009, he has worked across many of the portfolio companies to advise on due diligence, growth strategies and the eventual exit of several businesses, most notably the successful sale of iNova Pharmaceuticals. Mr Halls recently spent a number of years as CFO of Recreational Tourism Group where he delivered a successful turnaround and sale in April 2015. Stuart replaces Mike Dertony who has decided to pursue other interests.
Trading update, June Quarter 2015
Ahead of its listing, AHAlife is also today pleased to provide a trading update that comprises continued strong growth in revenues for the June quarter 2015 and strong growth in registered members and registered brands over the past 12 months. This growth has been largely generated organically and achieved prior to the benefits of capital injection that the IPO will provide to AHAlife.
Registered members rose 61% over the year to 30 June 2015 from 214,000 to 345,000, and up 14% from the 303,000 detailed in AHAlife’s prospectus as at April 2015. Further, over the 2015 fiscal year, the number of registered brands available on the AHAlife platform has grown 34% to now total 2604 (as at 30 June 2015).
For the June quarter of 2015, AHAlife’s revenues have grown by 52% (versus June quarter 2014).
These metrics represent strong growth and momentum of the AHAlife platform.
Launch of gifting app set for Q4 2015
AHAlife also announced today that it expects to launch its gifting app in the fourth quarter of 2015. The gifting app has been in development since March of this year and will further leverage AHAlife’s proprietary technology platform and the strength of the group’s catalogue of brands.
The global gift card industry has been estimated to have generated $124 billion in total sales in calendar 2014 and AHAlife is uniquely positioned to participate as a disruptor in this fast-growing market segment.
AHAlife Chairman Mike Hill said: “We believe that the growth prospects for AHAlife are significant. AHAlife generates product margins of 50%, before shipping and promotional activities from an average customer order value of approximately US$180. Driving new customer acquisition over the extensive brand catalogue, without needing to hold any stock is an impressive business model that would otherwise take many years and significant investment to replicate or attempt to displace.”
The online channel for luxury personal goods is estimated to be worth approximately €12 billion (or approximately 5% of the total €223 billion market) and growing at four times the rate of the overall category.
AHAlife’s investor and advisor network spans the luxury retail, eCommerce, media, technology and well-being lifestyle which are key enablers to its business model. They include the former CEO of Saks Fifth Avenue, Steve Sadove; author Deepak Chopra; founder of New York Fashion Week Fern Mallis; CEO of William Morris Endeavour and IMG, Ari Emanuel; former Chairman of LVMH, Renaud Dutreil; and Co-Founder of Binary, Jon Teo.
Strategic Investors also include Rakuten (among the Top 3 eCommerce Companies in the world and the largest in Japan) and VIPShop.com (China’s leading Online Discount Retailer for Brands).
AHAlife will commence trading on the ASX today at 12.00pm under the ticker code, AHL.
For further information, contact:
Investors
Andrew Whitten, Company Secretary on +61 2 8072 1400Blue Ocean Equities, Lead Manager and underwriter on +61 2 8072 2988