In January 2020, Princess Pea, a vertical cross-border e-commerce company, has completed a new round of financing in the amount of JPY5.3 Billion. The investors include SBI Holdings, Sugi Holdings, a major Japanese drug and cosmetics chain, and Xinjin Holding, a cross-border investment platform under CITIC Group.
Princess Pea, established in 2015, is one of the few PRC cross-border e-commerce platforms that have been able to establish direct partnerships with Japanese manufacturers and brands. Princess Pea's business model consists of two parts: first, it is a B2B2C cross-border e-commerce platform that provides Chinese consumers with high-quality Japanese products, which are mainly supplied through the Princess Pea app; and second, it assists Japanese companies in entering the Chinese market and improving their brand recognition. Through this financing, Princess Pea has successfully built a multi-faceted and in-depth strategic cooperative relationship with both Sugi Holdings and Xinjin Holding, which will further enable Princess Pea to provide Chinese consumers with products and services of higher quality
As the PRC legal counsel to Princess Pea and with its extensive experience in financing and investment, Llinks provided professional legal services to Princess Pea throughout this financing, including but not limited to transaction structure designing, transaction documents drafting and closing.
