French e-retailer Vente-Privee acquires two competitors
April 15, 2016 05:14 PM
Vente-Privee.com, the French web-only retailer that popularized the concept of offering designer fashion at deep discounts for a limited time, has acquired two more European flash-sale competitors.
Online-only Vente-Privee, No. 13 in the Internet Retailer 2015 Europe 500, acquired Spanish flash-sale retailer Privalia Group (No. 37 in the Europe 500) and a majority stake in Swiss fashion site EBoutic.ch for an undisclosed price Thursday.
The acquisitions come eight months after Vente-Privee acquired a majority stake in Belgian flash-sale retailer Vente-Exclusive.com (No. 281 in the Europe 500).
“This new expansion reflects our continued active approach to the European deployment,” Vente-Privee CEO and founder Jacques-Anton Granjon said. “We are very respectful of the work done by the founders and leaders of these sites, and are very pleased to have their support and expertise in the pursuit of our common European adventure."
Top500Guide.com data shows Vente-Privee has grown at a compound annual rate of 22.35% over the past five years to an Internet Retailer-estimated 1.7 billion euros ($1.918 billion) in 2014, up from 620 million euros ($699.7 million) in 2009. Meanwhile, Privalia has grown at a rate of 56.51% during that same period to an Internet Retailer-estimated 600 million euros ($677.1 million) in 2014 from 100 million euros ($112.9 million) in 2009.