Showroomprivé acquires 100 percent stake in Beauteprivee

European online retailer Showroomprivé has purchased the remaining 40 percent of Beauteprivee’s share capital. The company said, in March 2017, the group had acquired a 60 percent equity stake in Beauteprivee, the French online flash sales player specialized in cosmetics, beauty and well-being products, along with the option to purchase the rest of the share capital. The company added that the acquisition of the remaining portion of Beauteprivee’s share capital at a price of over 20 million euros will be financed by the share capital increase carried out in December 2018, which fetched gross proceeds of 39.5 million euros.

Commenting on the development, Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan said in a statement: “We are delighted to have completed the acquisition of Beauteprivee’s share capital and to have proved the merits of this strategic acquisition launched in 2017. Over the past two years, we have worked side by side on developing the Beauteprivee brand, which has nearly tripled its membership and more than doubled its turnover. Beauteprivee co-founders Frédéric Bille and Xavier Chauvin, currently co-CEOs, will continue to assist with the ongoing management handover process in 2019.”

The deal aims to consolidate the group’s leadership in the beauty and well-being vertical, which complements its traditional fashion offering. With over 8 million members and over 1,000 brand partners, Beauteprivee continued to post strong profitable growth in 2018. Over the last two years, its net sales have increased by over 50 percent per year, accompanied by steady growth in the EBITDA margin.

Picture:showroomprivé media centre