ShowroomPrivé: a Stock Exchange flotation with a €660 million capitalisation
today Nov 2, 2015
The bell sounded at 9am on 30th October, as ShowroomPrivé made its debut on the Euronext Paris stock exchange. The operation took place in the presence of Economics Minister Emmanuel Macron, with the stock listed at €19.50 per share. This is the lowest end of the price range, given the currently unfavourable market situation, though this remains the most significant high tech industry flotation since 2006.
Euronext Paris wore the portal's colours for the occasion, and under a deluge of pink and silver leaves the site's founders, David Dayan and Thierry Petit, celebrated the end of a countdown that began last September.
"The markets have been troubled lately," Thierry Petit didn't hide the fact. "But we escaped the worst of the crisis, while many other stock market flotations have been postponed. We have been lucky in putting together a very successful operation, raising more than €250 million in capital. I believe that investors were able to realise how solid our company is."
"Setting an example"
"We managed to attract French, Anglo-Saxon and Asian investors..." enthused David Dayan. "This is proof that our model is appreciated and that the company we created appeals to investors and businessmen who are leaders in their industries (such as Chinese group VipShop, which invested €30 million).
"You are setting an example," declared Economics Minister Emmanuel Macron, who was present and extolled the benefits of entrepreneurial risk-taking and of the financing of high-tech companies through the stock exchange.
Active in eight countries, last year ShowroomPrivé generated a revenue of €480 million. The website produced 60% of its sales with fashion, chiefly women's. With 74% of aided brand awareness, last year ShowroomPrivé sold 24 million pieces, and attracted 4 million new subscribers. It's a 40% sales increase, chiefly brought about by the mobile channel, which now accounts for 65% of the traffic.
Copyright © 2019 FashionNetwork.com All rights reserved.