French flash-sale retailer Vente-Privee hires a CEO and acquires a competitor
September 15, 2015 01:52 PM
A week after acquiring a competitor, French flash-sale online retailer Vente-Privee.com hired a new leader.
Vente-Privee, No. 13 in the 2015 Internet Retailer Europe 500 Guide, today said Charles-Hubert de Chaudenay will be take over as CEO on Nov. 2. De Chaudenay, who has been on Vente-Privee’s board since 2008, comes from a banking background, having previously worked for Credit Suisse First Boston and Crédit Agricole CIB.
Vente-Privee founder Jacques-Antoine Granjon cited de Chaudenay’s experience among the factors leading to his hiring.
“His knowledge of our company, combined with his professional background and human qualities give us confidence in our choice for this key position,” he said. “I am very pleased to welcome Charles-Hubert de Chaudenay and I have every confidence that he will help Vente-Privee to transform itself, grow and expand into new markets.”
De Chaudenay’s appointment comes a week after Vente-Privee announced it was acquiring a majority stake in Belgian flash-sale retailer Vente-Exclusive.com, No. 281 in the Europe 500. The online retailers did a combined 1.790 billion euros (USD$2.017 billion) in sales in 2014. Vente-Privee.com has 25 million members across Europe, while Vente-Exclusive.com has over four million members in Belgium and the Netherlands.
Granjon expects the acquisition to strengthen Vente-Privee’s position in Europe. “This new step reflects our active approach to European expansion, based on a strategy of organic growth and acquisitions,” he said.