Carrefour buys 17 percent stake in Showroomprivé for 79 million euros
French distribution giant Carrefour has acquired 17 percent of the online fashion company Showroomprivé for a total of 79 million euros.
Carrefour has bought its stake in the furniture group Conforama, paying 13.5 euros per share.
Carrefour has explained in a statement that the main objective of both companies is the development of a multi-channel alliance that notably covers areas such as commercial, marketing, logistics and data.
The alliance with Showroomprivé came just a month after Carrefour joined Fnac to buy appliances and electronic products together, highlights Spanish financial journal 'Expansión'.
Alexandre Bompard, CEO of Carrefour, has valued the partnership between the two companies as positive, saying that "it is a new step in the development of its digital strategy" that "allows Carrefour to enter the world of online sales". The executive also wanted to highlight the "enormous potential of cooperation between the two groups."
On the other hand, Thierry Petit and David Dayan, founders of Showroomprivé, are "happy with the association" and affirm that it "will allow them to open a new stage of unprecedented opportunities".
Once the agreement becomes effective - which is pending confirmation by the Financial Markets Authority of France -, the founders of Showroomprivé will maintain 27.1% of the capital, while Carrefour will obtain 16.86% of the total .
Founded in 2006, Showroomprivé has 28 million members in France and is present in eight other countries in the European Union. The company recorded net sales of 540 million euros in the last year and employs 1,000 employees..