Ventee-Privee invests 80 million euros in research teams
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London - Ventee-Privee.com is set to invest 80 million euros (68.3 million pounds) in its innovation, research and development teams and to help fund the launch of a start-up accelerator programme.
The new investment will help the flash sales site fulfill three of its projects from its Paris head office, which represent the brand's commitment to entrepreneurship and innovation. With the investment, Vente-Privee will establish two in-house innovation labs at its head quarters in Paris, creating an additional 250 jobs to expand its IT teams to further support their flash sales site.
"This investment presents a unique opportunity for entrepreneurs in the UK, to not only access our support and mentorship, but to be part of a growing and exciting community at the world’s biggest start-up campus in Paris," commented Sally Scott, Vente-Privee.com UK Managing Director in a statement. "Our business has been an online pioneer, growing year-on-year by not only getting the product offer right, but the online experience too. We see great potential for growth in the UK on the back of this investment in innovation, and by continuing to support and champion the developments in our sector."
In addition, the investment will also be used to establish an accelerator programme for 20 start-ups within the fashion, tech and retail industries. Together with Station F, the world's biggest start-up campus, Vente-Privee will select the winning candidates. The flash sales site is currently welcoming applications from young business across Europe through the website stationf.co.uk. The selected start-ups will be ones which successfully imagine solutions and services that enrich, optimise and transform consumers' online shopping experience.
"In this digital age, where competition is no longer between big and small players, but between slow and fast ones, we place innovation and tech at the heart of our growth strategy", added Jacques-Antoine Granjon, Vente-Privee.com’s co-founder. "We have shaken up some retail codes in our sector and in fashion – which is at the heart of our identity – and we want to pursue this constant transformation."
Photos: Courtesy of Vente-Privee.com