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Belgian Baunat announces EUR-2.8m capital hike - report.

(SeeNews) - Jul 5, 2011 - Belgian online diamond jewellery supplier Baunat has raised EUR 2.8 million (USD 4m) in additional capital from Belgian and French investors, reported today.

The company will use the funds to accelerate its growth and expand its diamond collection.

Baunat, which generates 95% of its sales on the Internet, expects to triple revenues this year. The company also considers opening shops in Germany, France and Switzerland in addition to its outlet in Antwerp. A shop in the Far East is also under consideration.

Baunat exports currently more than 85% of its products. Belgium accounted last year for 50% of the company's sales.

(EUR 1.0 = USD 1.447)
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Publication:ADP News Belgium
Date:Jul 5, 2011
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