Xcel Brands secures investment via new partnership with United Trademark Group
Xcel Brands, a US media and consumer product company, has linked up with United Trademark Group (UTG), confirming that the Shanghai-based supply chain and distribution firm is to serve as its new strategic partner. As part of the deal, UTG has injected a nine million dollar strategic investment into the New York headquartered business.
In a release, UTG co-founder and chairman, Alex Wang, said the duo intended to combine 'their expertise in social commerce and our shared vision and commitment to product innovation'. They were thus looking to build 'the next generation of great brands', his statement continued.
Xcel Brands chairman and CEO, Robert D'Loren, also expressed excitement about the new partnership, adding that 'there is tremendous synergy between our companies' goals, missions and visions for the future of the global consumer sector'. He added: 'With UTG's global expertise and our shared commitment to innovation, brand building and leveraging pioneering new technologies, we see great opportunities on the horizon and look forward to unlocking new possibilities together.'
UTG specialises in mergers, acquisitions, strategies and digital transformation, operating a portfolio of 10 brands that contribute to its 1.5 billion dollars in annual retail sales throughout 12 countries. These include lifestyle brands like Jeep, as well as sportswear labels like Good year and Ou & Me.
Xcel Brands, meanwhile, has operations across design, licensing, marketing, live streaming and social commerce for branded apparel, footwear and other categories. The company, which owns the likes of Halston, Judith Ripka and C. Wonder, works with public figures to establish associated brands, such as Tower Hill by Christie Brinkley and Trust-Respect-Love by Cesar Millan.
In its most recent financial report for the third quarter ended September 30, 2024, D'Loren noted that Xcel had faced 'some headwinds' yet still welcomed growth across brands through key retail partners. While YoY revenue dropped from 2.38 million dollars to 1.5 million dollars over the period, its losses widened to 9 million dollars.
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