The giant of the "flash sale" in Europe changes its name

The giant of the "flash sale" in Europe changes its name


MadridUpdated:

It was a very deliberate decision in which behind are two years of work and reflection of the entire group Vente-Privee (European leader of flash sales) to integrate its six brands under the name Veepee. "It is very difficult to develop a group when you have different brands. It was important to unify all of them into one, "Jacques-Antoine Granjon co-founder and president of the Vente Privee Group explains in an interview with ABC. In recent years "we have bought all the companies that were leaders and profitable in our sector," adds the manager. Vente-exclusive in Benelux, Privalia in Spain, Italy, Brazil and Mexico, Eboutic.ch in Switzerland, Designers & Friends in Denmark and ZloteWyprzedaze in Poland they are part of this group of French origin that in 2018 reached a turnover of 3,700 million euros, 12% more than the previous year. It operates in a total of 14 countries and for the first time the group achieved 50% of the results outside of France.

Behind this decision is the goal of gaining a stronger identity and personality while continuing to offer the best brands at the best prices to its more than 72 million customers worldwide. This integration will be gradual and is expected to end in the spring of 2020. "The real challenge of this unification of brands is technological, to make all platforms are one and that will be done little by little," warns the president of Veepee. Privalia, for example, has a different platform in each of the four countries in which it operates. But he is convinced that the new name "will be the bellows for the European community." A more international name has been sought, "which is easier to pronounce for all Europeans," he adds.

The buyer of Privalia

In 2016 Vente-Privee acquired the Spanish Privalia (born in 2006 in Barcelona) in an operation that was valued at 470 million euros and with which it sought to consolidate its position in Europe. Spain already represents 11% of the group's total turnover, and last year the national market grew by 16% compared to the last year. Selling a total of 12.5 million products a year, with an average of 13,700 daily orders made and launching 7,900 sales campaigns with more than 1,700 collaborating brands, the group has 10.7 million customers throughout Spain. In our country, it gives work to 900 persand the total workforce amounts to 6,000 workers.

«The figures in Spain are very good. There is a high quality service, "he acknowledges. Jacques-Antoine Granjon. In the municipality of Santa Oliva (Tarragona) they also have a logistics center from which they distribute throughout southern Europe. Innovation and technology is key in this area and now they are betting on the "dropship", a logistics management system that allows for the sale of products that are available to the wholesaler.

In its firm commitment to innovation and technology, the company has decided to strengthen its group of 800 technology workers with 250 new talents in the field of information technology and plans to invest 100 million euros to continue developing open innovation. "We have seen what happens throughout the world, it is important to open your eyes well to learn new experiences," recalls the founder.

Diversification

In recent years the group has diversified its business although "everything revolves around fashion," Granjon says. "We are very strong in the sale of tickets for shows, in trips … but fashion is the strongest," he adds. They have been operating on trips since 2011 and last year achieved a turnover of 300 million euros. In leisure, they operate and manage four theaters, as well as the sale of tickets, and invoiced 220 million euros in 2018. In wine, sales reached 60 million euros and are already the main wine seller on the Internet in France. Despite this diversification, fashion accounts for 60% of the group's total turnover.

For the time being, they rule out new acquisitions. "We are going to focus on consolidating this new strategy and reinforcing our position in Europe," the president of the group makes clear. This is the beginning of a new stage with which we want to improve some less enviable figures for many businesses in its sector: 120 million products sold, 116,000 packages a day, 4.5 million individual visitors each day and 54,000 sales driven by collaborative events with 7,000 brands.

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