1. News
January 12, 2018updated 11 Jan 2018 3:54pm

Deals this week: Xinshang, Buttercups Bras, YNAP Corporation

China-based second-hand luxury goods provider Xinshang has raised $50m through a series C financing round.

China-based second-hand luxury goods provider Xinshang has raised $50m through a series C financing round.

Closed on 8 January, the funding round was led by Chinese firms GGV Capital and Joy Capital.

Xinshang will use the funds towards upgrading its platform, business expansion and strengthening its team.

“The deal will enhance Perry Ellis’ shirt business in Mexico.”

Indian bra retailer Buttercups Bras has raised funds from Rajan Anandan and Chandra Chappadi through a venture financing round, increasing its total funding to Rs76m ($1.2m).

Buttercups intends to use the funds to introduce new ranges and launch two new fitting rooms in Bangalore this year.

YNAP Corporation has signed a licensing agreement with GIADA, an Italy-based manufacturer of womenswear and accessories.

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GIADA will manufacture and distribute YNAP’s Karl Lagerfeld-branded denim in Europe, the Middle East and Africa, under the agreement.

The new collection will be launched early next year.

Mavis Discount Tire has entered an agreement to purchase 69 retail locations in Georgia and Florida from Kauffman Tire.

Based in the US, Mavis Discount provides online retailing and wholesale services for discount tires.

Kauffman Tire operates retail stores and wholesale distribution centres in the US.

Dyehard Fan Supply has purchased Sports Entertainment Events Merchandising’s (SEE Merchandising) assets and business for an undisclosed sum.

Based in the US, Dyehard Fan Supply is an e-commerce firm and an event and retail merchandiser.

SEE Merchandising’s employees will be moved to Dyehard, post the transaction.

SEE Merchandising designs, manufactures and sells merchandise related to live events, sports and entertainment properties.

Perry Ellis International (PEI) has signed a licensing agreement with Mariscal Moda Hombre for designing and distributing Original Penguin shirts and tuxedo shirts across Mexico.

Based in the US, Perry Ellis designs and distributes apparel for men and women.

The deal will enhance Perry Ellis’ shirt business in Mexico.