(Press Release) The Abraaj Group, a leading investor operating in global growth markets, today announced the successful exit of its investment in Iasacorp International, a prominent Peru-based retailer specializing in women’s accessories. Iasacorp operates store brands such as Do It!, Do It! Kids and Glitter. Read more
(Startupi) OQVestir, the leading online store for female luxury fashion, received its third investment of US$30m in a round that included funding from TMG Capital. Previous rounds included investments from Kaszek Ventures and Tiger Global. The objective of the new round is to continue with its plans for expansion. Read more
(Exame) Alternative investment management firm Kinea Investimentos has agreed to purchase a 20 percent stake in Brazil-based clothing store Lojas Avenida for R$200m (approximately US$84.5m).
Kinea has the option to double this stake within five years. Lojas Avenida operates 105 stores in various Brazilian cities and intends to use the capital injection to open 30 stores in 2014. The transaction is pending approval from Brazil’s antitrust agency CADE and is subject to other closing conditions. Read more
(Exame) The chain of menswear stores Aramis signed on Thursday the sale of a minority stake of 30% to private equity fund manager 2bCapital – controlled by Banco Bradesco and Banco Espírito Santo, according to people in the retail market. With revenues of about R$200m, the company founded in 1995 currently has 34 locations in 12 states. The deal was advised by boutique investment firm Target Advisor, who also advised in the sale of retailers VR Mensware, Bobstore and Mandi to Inbrands, the fashion arm fashion of fund manager Vinci Partners. Read more