French Showroomprivé acquires Saldi Privati
Showroomprivé, an French private fashion sales provider, has acquired Saldi Privati, a subsidiary of the Italian Banzai group. With the acquisition, Showroomprivé becomes the second actor in online private sales in Italy.
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With the acquisition of Saldi Privati, Showroomprive wants to further deploy its international strategy, which it initiated at the end of last year. When the transaction is completed, Showroomprivé will achieve more than 20 percent of its turnover abroad. According to the press release, the transaction amounts to 28 million euros, but the price can change based on performance conditions to the 2018 results.
Showroomprivé also established a partnership with Saldi Privati’s holding company, Banzai, to benefit from its logistics platform in Italy. The private sales website has now access to a network of 400 pickup points in around 200 cities across Italy. It can also offer 48 hour delivery to its customers.
“This transaction constitutes an important stage in Showroomprivé’s international expansion. It will reinforce our presence in Italy, an important market for fashion and offering strong prospects for ecommerce”, co-founders Thierry Petit and David Dayan say. “Saldi Privati is an actor whose DNA is close to that of Showroomprivé. We will count on its teams and its founder Bruno Decker, with whom we share the same vision of the business.”
About Saldi Privati
Saldi Privati was founded in Milan in 2007 and is the second largest player in the online private sales industry in Italy. It has over 2.7 million members and achieved a turnover of 44 million euros last year. Over half of this turnover was generated via mobile.
Showroomprivé was launched in France in 2006 and operates in seven other European countries. In 2014, the company recorded 350 million euros in net revenues thanks to its 4.3 million buyers.