Vente-privee.com

vente-privee.com
Type of business Limited
Type of site
 Online marketplace
Available in Multilingual
Founded January 16, 2001 (2001-01-16)
Headquarters Saint-Denis, Seine-Saint-Denis, France
Area served Europe
Founder(s) Jacques-Antoine Granjon (CEO)
Industry E-commerce
Revenue Increase US$2.464 billion (2015)
Employees 3 800 (2015)
Website www.vente-privee.com
Registration Required
Users Increase 50 millions users (2015)
Current status Active
Jacques-Antoine Granjon, vente-privee.com CEO

Vente-privee is a French ecommerce company that pioneered the model of online flash sales (also called event sales). The site, that celebrated its 10th anniversary in 2011, was developed in an online environment to host sales of designer brands only for members with discounted prices from 50% to 70% off.[1] These sales include a diverse selection of product categories: fashion, accessories, toys, watches, home appliances, sports equipment, technology, and wines. The site has diversified its offer and now even travels, entertainment tickets and music are in sale. For example, the 2012 album of the punk legend Iggy Pop, "Après", was launched by the site.[2]

History

vente-privee.com was founded in 2001 by the current CEO, Jacques-Antoine Granjon, and his seven business partners. At the end of 2000 Granjon and his associates began to conceptualise the sale of end-of-season and overstock inventory through limited-time sales events on the internet. The principle was to fulfil supplier’s needs to quickly sell excess inventory, without harming the brand’s image or competing with other distribution channels.[3] On 26 July 2007, Summit Partners acquired a 20% stake in vente-privee.com. The funding helped the company expand in Europe: first in Spain and Germany, then in Italy and UK, and more recently in Belgium, Austria and The Netherlands. In late 2011, vente-privee, in a join venture with American Express, launched the site in the US.[4] However, it was announced in October 2014 that the US branch would be closed by the end of the year. [5] Until 2009 one had to be recommended by a member to become a member. Since early 2010, registration to vente-privee.com is open to anyone, probably according to its move to sell its 1 million optin emails database.[6]

Notes and references

  1. ↑ Bowman, Jo (January 2010). "Private Ambition". CNBC Business.
  2. ↑ "Iggy Pop album shuns 'humiliating' record labels". The Telegraph. 10 May 2012.
  3. ↑ Schenker, Jennifer L. (11 January 2008). "Vente-privee.com Refashions Closeouts".
  4. ↑ "Interview: Vente Privée about its USA launch". Fashion United. Retrieved 30 May 2011.
  5. ↑ http://fortune.com/2014/10/27/vente-privee-usa-to-shut-down/
  6. ↑ "Vente-privee.com change d'avis et monétise sa base e-mails". Journal du net. 11 May 2010. Retrieved 17 October 2013.

Bibliography

(in English) Michael Barnett, 8 March 2012, Strategic Inconvenience, Marketing Week
http://www.marketingweek.co.uk/trends/strategic-inconvenience/4000496.article
(in English) Isabella Naef, 13 October 2011, Granjon: Smartphone will be magic wand of consumption, Fashion United
http://www.fashionunited.co.uk/fashion-news/fashion/granjon-smartphone-will-be-magic-wand-of-consumption-2011101313128
(in English) Eve Oxberry, 18 février 2010, Vente-privee reports 33% sales uplift, Retail Week
http://www.retail-week.com/city/trading-update/vente-privee-reports-33-sales-uplift/5010558.article
(in English) Eve Oxberry, 18 février 2010, Vente-privee plans UK growth after strong 2009, Drapers
http://www.drapersonline.com/ecommerce/news/vente-privee-plans-uk-growth-after-strong-2009/5010551.article


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