Showroomprivé acquires Saldi Privati
today Oct 5, 2016
The French event sales website announced it has finalised the purchase of a 100% stake in Saldi Privati, an Italian website active in the same line of business, a subsidiary of the Banzai group.
Showroomprivé paid €28 million for the Italian website, which reported a revenue of €44 million. The operation will raise the French website's foreign-generated revenue share to 20%. Saldi Privati was launched in Milan in 2007, and currently claims 2.7 million members. It benefits from 400 pick-and-pay locations in about 200 towns, thanks to the Banzai group.
"Italy is brand country, and Saldi Privati enjoys a solid base of local purchasers," explained to FashionNetwork Thierry Petit, co-founder of Showroomprivé. "[Saldi Privati] is a local player, not a global one; it has established strong links with Italian brands and is seeking to increase its business with foreign labels. This makes our joining forces an even more obvious move in the light of our respective strategies."
Showroomprivé's joint CEO also stated that, in the near future, Saldi Privati will continue to trade under its own name. He added that, if the two brand identities will be maintained in parallel, it will be with two different positionings.
A 10 year-anniversary present
Saldi Privati's acquisition was first reported by FashionNetwork last July, and it looks like an anniversary present, since Showroomprivé is celebrating ten years on the market this week. The celebration coincides with the launch, a few days ago, of a new version of the website and its mobile counterparts. This is a "happy coincidence" in the development calendar, said Thierry Petit.
Soon the French website will also celebrate the first anniversary of its stock exchange listing, on the Euronext Paris securities market. In 2015 Showroomprivé generated a business volume of €600 million, and a revenue of €443 million (+27%). The group has a staff of 800, and currently 60% of its revenue and 80% of its followers come from the mobile side of the business.
Copyright © 2020 FashionNetwork.com All rights reserved.