LA PLAINE SAINT-DENIS, France, February 27, 2017 /PRNewswire/ --
Showroomprivé, an innovative European player in the online private sales industry, specializing in fashion, announces today that it has signed an agreement for the acquisition of Beauteprivee.
With over 3 million members and more than 800 brand partners, Beauteprivee is the French leading online flash sales player specialized in cosmetics, beauty and well-being products and services.
The company, founded in 2007 by Xavier Chauvin and Frederic Bille with the support of Voyageprive's founders including Denis Philipon, reported IFRS net sales of 19 million euro in 2016, up more than 40% versus the previous year. Its EBITDA margin exceeded 7%.
This proposed combination would allow Showroomprivé to benefit from the expertise of Beauteprivee's team to strengthen its position on the online flash sales market of cosmetics and well-being products. With Beauteprivee.com, Showroomprivé reinforces its offering to serve the Digital Woman.
Thierry Petit and David Dayan, co-founders and co-CEOs of Showroomprivé stated: "This project contributes to Showroomprivé growth dynamic as it will allow us to offer our members a wider and more attractive assortment on the cosmetics and well-being segment, which is complementary to our fashion offer. Beauteprivee's profile is similar to ours. We are looking forward to welcoming its teams and management with whom we share common values".
Xavier Chauvin, founder and CEO of Beauteprivee commented: "Showroomprivé's expertise in online private sales and its knowledge of the Digital Woman will allow us to sustain and accelerate Beauteprivee's development. This project provides us with the opportunity to join a leading European leader enjoying rapid growth".
The transaction is expected to close at the end of the first trimester of 2017, subject to the usual conditions precedent.
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