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ThePrivateSales.com Raises $5M In Series-A Funding; NextWave?

TPS Shopping Outlet, the company that runs online designer-brands store, ThePrivateSales.com has raised $5 million (around Rs 22.44 crore) from a group of five investing companies, reports Livemint. The company didn't disclose the name of the investors. It intends to use the funding to add more product categories and brand, and start another website featuring discount deals from luxury fashion brands. The site currently offers clothes and accessories from 140 brands including the likes of Hugo Boss, Ralph Lauren, Esprit, Nautica and Gucci, and plans to add 300-400 new brands. It claims to have 400,000 registered members, out of whom 47% have transacted. Just like other such ventures, the site offers referral discounts to members. The company itself was incorporated in May 2010, according to filings with India's Registrar of Companies; according to other documents filed, it took a loan of…

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