Jacques-Antoine Granjon, the man behind the 1 billion euro luxury e-tailer Vente-Privee
With the occasion of its 10th anniversary, leading luxury e-tailer VENTE-PRIVEE.COM presented in Paris a short film entitled ”Desire”. Shot in 2010 with a duration of 2 minutes and 50 seconds, the spot was directed by Dutch photographer Erwin Olaf. He emphasizes, in a retro style, the seduction game between a woman staring at a delivery man. “The desire is part of our DNA, with private sales that combine a little addiction with a slight frustration while having a lot of fun,” said Jacques-Antoine Granjon, co-founder of VENTE-PRIVEE.COM
Reflecting on his company’s history and evolution, Granjon said : “The company was actually funded in 1985 by encompassing an older business - the sale of discontinued items,” He added that VENTE-PRIVEE.COM is one of the few e-commerce sites to have been founded by professionals who had expertize in logistics and who understand the raw material – the unsold goods”. Since 2007, Granjon identified 500 companies which attempted to copy the business mode of VENTE-PRIVEE.COM but have all failed to become profitable.
A company of 1.500 employees, VENTE-PRIVEE.COM has set record figures: 175 million products since the establishment of the site or that of 3 million euros in sales made â€‹â€‹each day. In 2011, management expects a 14% increase in sales and a turnover of 1.1 billion euros. After years of strong growth,VENTE-PRIVEE.COM is in the process of consolidation and diversification.
One of the company’s projects, Rosedeal, offers coupons with a face value which is much higher than the price, allowing retailers to attract customers in the shops whether offline or online. Another project of the company is VPticket which provides customers to buy concert or event tickets at the last minute. “It is possible that in 2013, stocks of brands are smaller. These projects also allow us to be more detached from fluctuation of stocks, which are our raw material,” said Jacques-Antoine Granjon.
The company’s top strategic priority is international expansion. 80% of its sales are made through its French sites. VENTE-PRIVEE.COM has also been present in 8 European countries, adding the U.S. where it made its first sale at the beginning of November. To cross the Atlantic, the group created a joint venture with American Express, each side investing invested 18 million dollars. An English version website was launched recently in the Netherlands with the aim to cater Scandinavian markets too.
Probably the most important conclusion to emphasize and to which Jacques-Antoine Granjon has drawn attention to, is the independence of his company and the fact that they never had to raise any funds. In other words, an IPO is not on the agenda.
adapted from FashionMag.com and data from vente-privee.com (press)
The vente-privee USA site will provide a unique experience through customised online boutiques with sales events featuring HD videos, stunning photography and original music. Each customised site is designed to allow brands to showcase their merchandise in a way that enhances the customer’s experience while preserving the brand’s identity. Drawing on American Express’ marketing expertise, vente-privee USA will provide unparalleled insights for its partners by reaching a targeted and relevant audience.
“vente-privee USA creates exclusive events for top brands. We bring our partners new revenue while investing significantly in media that supports their image,” said Mike Steib, CEO, vente-privee USA. “For our members, we promise world-class products at insider prices. Our aim is to be to the US market what vente-privee.com is in Europe – a leader and innovator in e-commerce.”
As the official card of vente-privee USA, American Express Cardmembers will be able to enjoy benefits at launch. Cardmembers are offered an incentive for their first purchase until the end of the year and Membership Reward points can be used to redeem vente-privee USA gift cards.