Shoosmiths has advised Downing LLP (Downing) on the £3m investment secured by the family-owned luxury e-commerce business, Xupes, from Downing managed funds

Founded in 2009 by Joe and Frank McKenzie, Xupes restores and retails pre-owned luxury goods including watches, jewellery, handbags, art and antiques and is an accredited Cartier and Omega servicing centre.

The multimillion-pound funding from Downing managed funds will be invested in IT infrastructure, additional staff and further diversification of its product range.

Shoosmiths’ corporate team was led by partner Sanjeev Sharma with senior associate Iain Butler and solicitor Laura Whitfield assisting.