Leading French luxury online retailer VENTE-PRIVEE could reach 1,1 billion euros, thanks to a 15% increase in its turnover, said the company’s CEO Jacques-Antoine Granjon in an interview to La Tribune. He also added that there is no other competing online retailer which can boast a cash flow of 170 million euros (end of June).
Mt Granjon also indicated as major direct competitors Ebay which acquired German online retailer Brands for Friends and Amazon which acquired Spanish Buy VIP online retailer. He also said his company has the potential to reach sales of 10 billion euros, should it include sales of entertainment tickets, coupons, wine etc.
Surprisingly, he did not mention Net-A-Porter, the leader of the UK market which was acquired in 2010 by world’s second largest luxury group Richemont. Net-A-Porter has been unrolling an agreessive expansion in Europe and recently launched a men’s dedicated web site as well as a bridal one.
A recent study of Fevad, the French online community organization, online sales reached a staggering 31 billion euros in 2010 in France, a 24% growth rate compared to 2009. The three million online shoppers made on average 12 transactions of 1100 euros.
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