Showroomprive, European player of the online private sales specialist in fashion, acquires 100% Sales of the company's capital Private, Branch of the Milan group Banzai.
This causes the Showroomprive the second actor of private sales in Italy, strategic country for the fashion industry volume and strong growth potential, considering that the penetration rate of e-commerce is lower than the European average.
This allows Showroomprive to reach a significant milestone in the development of its multi-local strategy internationally, It started at the end of the 2015. A strategy that is part of an ongoing process of improving the quality of service and the proposed offer to its members and partner brands, in France and abroad. Upon completion of this acquisition will build over the Showroomprive 20% [1] of its sales abroad.
The transaction value is equal to 28 millions of euro, payable at closing. Subject to the achievement of the performance criteria related to the results of 2018, the transaction price could rise up to a maximum of 10 millions of euro, payable in 2019. This acquisition is in line with the financial discipline criteria established by the company for its external growth. The Group maintains a very positive financial position with a positive net cash flow that reaches 54,8 million euro post operation (based on pro forma data 30 June 2016).
Showroomprive It expects to complete the acquisition of Private Sale by the end of November 2016.
Private Sale, creata nel 2007 a Milano, It is the second largest player in private sales in Italy 2,7 million members and a turnover of approximately 44 million in the 2015.
Come Showroomprive, Private firm offers a wide selection of Italian brands with a focus on fashion and addressed mainly to women. The site has quickly caught the mobile opportunities, and today generates over 50% Sales through this channel.
Integrating Sales Private Showroomprive allow access to an expanded portfolio of brands and to offer its members the most important fashion brands at the best prices in all markets. Showroomprive will benefit from the strong appeal of Italian brands, representing nearly 70% Private supply of Sale.
Besides the expansion of the Group in all markets, which is enhanced through the sharing of portfolios of brands, are important synergies expected with respect to logistics, technology and marketing.
In the framework of the acquisition, Showroomprive He has concluded a partnership with the Banzai group to benefit from its logistic platform in Italy. Showroomprive will have access to unique and proprietary network of 400 collection points in about Banzai 200 cities and offer a delivery service to its members in 48h.
Thierry Petit e David Dayan, co-founders and co-CEO of Showroomprive declare: “This acquisition marks an important step in the dynamics of international expansion Showroomprive, a transaction which strengthens our presence in Italy, important market for fashion and a strong development for eCommerce. Private Sale is a reality whose DNA is in line with that of Showroomprive. We will support their team and its founder, Bruno Decker, with whom we share the same vision of business “.
Bruno Decker, founder and CEO of Private Sale, said: “We are pleased to join the group Showroomprive, one of the leaders of online private sales in Europe. Access to the portfolio of brands Showroomprive, its penetrating power and its capacity for innovation will enable us to accelerate our growth.”
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