French online shopping community Showroomprivé bought Saldi Privati, second in Italy when it comes to flash sales. At first, the French company paid 28 million euro, with a results-based bonus of 10 million euro in 2019 afterwards.
400 pick-up points in 200 cities
Showroomprivé, founded 10 years and a public company since 2015, is now the new owner of Saldi Privati, a web shop previously owned by Milanese Banzai. The acquisition target manages a 45 million euro turnover while its new owner managed a 443 million euro turnover last year, up 25 % compared to 2014. Saldi Privati will keep its name and all of the staff currently present at the company.
Saldi Privati is Italy’s number two, trailing Spanish Privalia. The latter is property of French Vente-Privée, Showroomprivé’s major competitor. Back in 2014, Vente-Privée managed a 2 billion euro group turnover.
One of the Italian company’s logistical advantages is that it has a network with more than 400 pick-up points in about 200 cities. This enables it to guarantee a 48h delivery time. In any case, the Saldi Privati acquisition should be finalized in November and will boost the company’s international turnover by 15 to 20 %. By 2018, the French want to generate 25 % of their turnover outside of France. The online shopping community is currently active in 9 counties (including Belgium and the Netherlands since 2011) and has about 24 million members.
