Leading French luxury e-commerce group VENTE-PRIVEE.COM launches in the U.S.
French luxury e-commerce group VENTE-PRIVEE.COM has announced the launch of its operations in the U.S., securing a partnership with American Express. Vente-Privee.com which is the leader of luxury e-commerce in France has been expanding in Germany, Spain and Italy, its turnover in 2010 reaching 969 million euros, a 15% growth compared to 2009.
20% of Vente-Privee.Com is owned by American investment firm Summit Partners. American Express card holders are reported to spend US$ 620 billion annually, worldwide. Vente-privee.Com’s direct competitor in Europe is Net-A-Porter.Com, which was acquired earlier this year by Swiss luxury conglomerate Richemont Group, which also owns Cartier, Piaget, MontBlanc, Chloe, Alfred Dunhill etc.