French online retailer Showroomprive wants to push beyond borders with an IPO - Information portal

French online retailer Showroomprive wants to push beyond borders with an IPO

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20.10.2015 Количество просмотров 360 views
Online retailer Showroomprive is seeking as much as 373 million euros ($424 million) in an initial public offering to expand beyond France as domestic competition from bigger rivals such as SA and Inc. intensifies.

Shares will be sold at 19.50 euros to 26.30 euros apiece and the stock will trade on the Paris exchange, Showroomprive, No. 49 in the Internet Retailer 2015 Europe 500 Guide, said Monday in a statement. The IPO is set to value the company at as much as 870 million euros, co-CEO Thierry Petit said on a conference call.

“There’s a lot of room to grow, and we want to have the weapons for it,” Petit said. “The world’s strongest fashion brands are in France, in Italy. There’s no doubt about the attractiveness of Europe in our industry.” In September 2014, Showroomprive signed a contract with Dispeo, a logistics vendor owned by Europe’s 3SI Group, which is a part of Otto Group (No. 2 in the Europe 500), which owns several e-commerce sites and technology companies. is No. 13 in the Europe 500; Amazon is No. 1.

French flash-sale sites, which offer goods at a discount for a limited period online, are targeting shoppers in neighboring countries to cope with a crowded market at home. Jacques-Antoine Granjon, the founder of which pioneered online flash sales, said in October he wants to make a bigger push into Europe through acquisitions. Granjon said he wants to keep Vente-Privee private and doesn’t need to raise funds.

China’s Vipshop Holdings Ltd. has agreed to invest 30 million euros in Showroomprive at IPO price, the company said today. Showroomprive said the IPO is set to raise 226 million euros to 298 million euros, or as much as 373 million euros if an overallotment option is exercised in full. Trading is expected to start Oct. 30 and the subscription period ends a day before.
Source:  Internet Retailer


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