Richemont has partnered with Alibaba Group to enter the Chinese online luxury market.
Based in Switzerland, Richemont is a luxury goods group, while Alibaba is an online retail major.
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Under the partnership, Alibaba and online luxury fashion retailer Yoox Net-A-Porter Group (YNAP) will establish a joint venture (JV) for launching two mobile apps for YNAP’s Net-A-Porter and Mr Porter brands in China.
The JV will leverage Alibaba’s technology infrastructure, marketing, payments, and logistics. It will also launch Net-A-Porter and Mr Porter online stores on Alibaba’s Tmall Luxury Pavilion.
YNAP and Alibaba will use the JV to provide improved online and offline shopping experiences to customers through the digitisation and integration of the retail value chain in merchandising, marketing, payments, and last-mile delivery segments.
United Pacific has agreed to buy 39 gas station and convenience store assets from Macland Investments for an undisclosed sum.
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By GlobalDataThe transaction will enable United Pacific to increase its C-store network to 365 company-operated and 55 fee-operated locations.
United Pacific is an operator of retail convenience locations, while Macland Investments operates gas stations and convenience stores under the brand names of Chevron, 76 and Shell.
Both companies are based in the US.
Kroger has signed a service and operational agreement with Ocado Group for the development of customer fulfilment centres (CFCs).
Initially, Kroger will place the order for 20 CFCs for approximately £90m ($115m) over three years, with the first three ordered by the end of 2018, as a part of the transaction.
More than £500m ($644m) will be invested for the remaining centres.
Scheduled to be delivered within two years of the order, the Kroger’s CFCs will be operated by Ocado.
RumbleOn has raised $21.6m through a private placement of its Class B common stock, priced at $7.10 each.
The firm has also expanded its existing credit facility by $5m.
Based in the US, RumbleON is an e-commerce platform for buying, selling and trading of motorcycles as well as other recreational vehicles.
Curaleaf Holdings Inc has secured C$520m ($396.74m) through the private placement of shares.
US-based Curaleaf Holdings is a vertically integrated medical and wellness cannabis retailer.
GMP Securities LP and Canaccord Genuity were the co-lead agents, while Cormark Securities Inc and Eight Capital and Haywood Securities Inc were the agents to Curaleaf for the transaction.
Grofers India Pvt Ltd intends to raise $120m-$150m through a venture funding round led by SoftBank Vision Fund.
The funding round may also involve the participation from Metro AG and existing investors, including Tiger Global, Yuri Milner and Sequoia Capital.
Upon completion of the transaction, SoftBank will own over 40% in Grofers through SVF, while Tiger Global will be the second major shareholder.
Turmswear has raised Rs63m ($860,000) through a venture funding led by Girish Mathrubootham.
The funding round has also involved participation from Bijou Kurien, Ambareesh Murty, Subrat Pani Mekin Maheshwari, LetsVenture & AngelList India, Sumit Jain, Krishnan Akhileswaran, Prabhakar Sunder and Amit Lakhotia.
Based in India, Turmswear is an advanced apparel and wearable firm owned by BIGPHI Technologies Private Limited.
