CEO and founder Jacques-Antoine Granjon strengthens his position in the Company, and simultaneously welcomes Qatar Holding as new minority shareholder
Jacques-Antoine Granjon has decided to strengthen his controlling position and shareholders stake, and to welcome Qatar Holding, the direct investment arm of Qatar Investment Authority, as a new shareholder in vente-privee.com. Qatar Holding becomes a significant minority shareholder alongside the Company’s founding partners and Summit Partners, the US-based growth equity firm already present since 2007.
"We are happy to have agreed terms to finalize our investment in vente-privee.com alongside Jacques-Antoine Granjon, one of the most successful entrepreneurs in France. We will fully support his efforts to drive the Company in its new phase of development. We have great confidence in the French entrepreneurial spirit, and will support such entrepreneurs in creating value as well as business and employment opportunities. It is envisaged that our investment will translate into the development and globalization of vente-privee.com as a French champion in the e-commerce sector.", declares a spokesperson for Qatar Holding.
"I am very pleased to welcome Qatar Holding, alongside Summit Partners. 13 years ago when vente-privee.com was founded, I would never have imagined that today we will be reaching the 3rd cycle of our development to establish our European leadership, or that we would one day gather esteemed investors sharing my vision of entrepreneurship and long-term development. It is also in this ambition and this perspective that I decided, with the full agreement of my partners, to strengthen my position in the capital. Our project is more than ever very exciting.", says Jacques-Antoine Granjon, CEO and founder of vente-privee.com.
vente-privee.com founded the online sales event concept and is the global leader in the sector. Specialising in selling brand overstock since 2001, online sales are exclusive to its 20 million members in Europe. Registration to the vente-privee.com club is free and with no purchase obligation. Sales are for a limited time only (3 to 5 days) and are organised in close collaboration with over 2,500 major international brands in all product categories: ready-to-wear, fashion accessories, music, homewares, toys, sports equipment, high-tech, gastronomy…Thanks to its partnerships with brands, vente-privee.com offers irresistible discounts (50-70% off). With 2 000 employees in 8 European countries, vente-privee.com generated €1.3 billion gross turnover in 2012, a 22% increase from 2011. In 2011, the website was launched in the United States in partnership with American Express.
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About Qatar Holding
Qatar Holding, a wholly-owned subsidiary of Qatar Investment Authority, is a global investment institution and a preferred partner of choice for investors, financiers and other stakeholders.
It is envisaged that the already significant investment portfolio of Qatar Holding will continue to grow. Key investments of Qatar Holding include Agricultural Bank of China, Barclays plc, Canary Wharf Group (via Songbird Estates), Credit Suisse Group, Harrods Group, Hassad Food Company, Heathrow Airport Holdings Ltd, Iberdrola SA, J Sainsbury plc, London Stock Exchange Group, Qatar Exchange, Qatar Telecom, Qatar National Bank, Santander Brasil, Volkswagen AG. www.qatarholding.qa
About Summit Partners
Founded in 1984, Summit Partners is a global growth equity firm that has raised nearly $15 billion in capital, and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 380 companies in technology, healthcare and other growth sectors. These companies have completed more than 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.