Xcel Brands brings in China’s UTG as strategic partner, WWD reports

Xcel Brands (XELB), seeking to extend its reach globally, has brought in Shanghai-based United Trademark Group as a strategic investor, WWD’s David Moin reports. UTG, a brand development and licensing company producing a range of products, has invested $9M in Xcel, WWD has learned. “We have been looking for a strategic alliance to make Xcel Brands global,” said Robert D’Loren, chairman and chief executive officer of Xcel, which specializes in building influencer brands through livestreaming and social commerce. Asked if the $9 million investment is a preliminary one by UTG, D’Loren replied, “The thought is for UTG to grow with us.”