Deals and M&As this week: Tablez, Walmart, Letgo

17 August 2018 (Last Updated August 17th, 2018 09:35)

LuLu Group International's retail division Tablez has signed an agreement with YOYOSO for launching stores in India.

LuLu Group International’s retail division Tablez has signed an agreement with YOYOSO for launching stores in India.

YOYOSO is an international fast-fashion and leisure department store brand based in China. Its product range includes over 5,000 items available across more than 1,000 stores worldwide.

YOYOSO intends to open new stores in the next five years, with 30 stores initially being launched in key cities.

LuLu Group will also invest $200m in setting up hypermarkets in Yiwu and other cities in China.

Dada-JD Daojia has raised $500m through a funding round led by Walmart and JD.com.

Dada-JD Daojia is an online grocery delivery company, while Walmart is a supermarket retailer and JD.com is an e-commerce platform.

Walmart has invested $320m in the latest funding round and has initially invested $50m in Dada-JD Daojia in 2016.

Dada-JD Daojia was formed following the merger of the online-to-offline business of JD.com and Dada Nexus, which is a crowd-sourcing delivery platform.

The customers will be able to pay for items from Walmart’s virtual store through JD Daojia’s platform using smartphones.

Letgo has secured $500m funding from Naspers, which will be used for its product development.

Founded in 2015, Letgo is a fast-growing app for buying and selling products locally in the US. The app features products such as electronics, cars, housing items, clothing and furniture.

“Sportswear retailer Sports Direct International has completed the acquisition of business and assets of House of Fraser for £90m ($115m).”

Naspers is a global internet and entertainment group established in 1915. It is also one of the major technology investors worldwide.

The firm also intends to use the funds for new expansion and monetisation efforts.

AEG has entered a partnership with Rank + Rally to transfer the operational control of its online and in-store retail business at Staples Center and StubHub Center in Los Angeles, and Target Center in Minneapolis.

AEG is a sports and live entertainment company based in the US, while Rank + Rally is a wholly owned subsidiary of Levy, a sports and entertainment hospitality disruptor based in the US.

Rank + Rally will operate all the retail spaces at the venues and will also manage e-commerce for the facilities and their home teams.

The in-venue stores at Staples Center will be operated under the TEAM LA brand and StubHub Center under the Galaxy Team Store brand.

The Hendersons family has entered an agreement for the acquisition of Poundworld for an undisclosed sum.

Hendersons is an Irish retail family, while Poundworld is a collapsed British discount retailer owned by TPG Capital with 335 stores.

Hendersons will buy 50 of the highest-performing remaining stores from Deloitte, the administrators of Poundworld, as part of the agreement.

Sportswear retailer Sports Direct International has completed the acquisition of business and assets of House of Fraser for £90m ($115m).

House of Fraser is a department store chain with approximately 59 stores in the UK and Ireland.

Sports Direct has acquired House of Fraser along with its main operating firm, James Beattie. It has also acquired all of the House of Fraser’s UK stores and all of the stock in the business.

Bucherer USA has completed the acquisition of Baron & Leeds for an undisclosed sum.

Bucherer USA is a parent company of Tourneau, while Baron & Leeds is a retailer of fine watches and jewellery.

Founded in 2002, Baron & Leeds operates two Rolex boutiques located at South Coast Plaza in California and International Market Place in Honolulu in the US.

It also owns and operates two stores in Maui at Whalers Village in Lahaina, and The Shops at Wailea in Hawaii, US.