Spartoo (France) - Nov 2007

Online shoe distributor Spartoo has raised €4.3m in equity and convertible bonds from CM-CIC Capital Privé, A Plus Finance and some business angels. There was reportedly significant interest in the business from private equity firms, following a selection process managed by L’Lione et Associés. In August 2006, business angels invested an initial €1.2m in the company. Further funds are expected to be raised at the end of 2008, in order to finance the company’s international growth.

Company

Founded in April 2006 and based in Grenoble, Spartoo has already generated total revenues of €4m through its website, which attracts 1.5 million unique visitors per month. The online retailer, which hopes to reach breakeven at the end of 2008, offers 3,000 models of 80 brands of shoes. The company will focus its attention on sales and marketing, as well as brand and stock management.

People

Stéphane Pesqué and François Collet worked on the transaction for Spartoo, while Niels Court-Payen and Jean-Michel Pimont represented A Plus Finance.

Advisers

Equity - Cabinet Gide Loyrette Nouel, Pierre Karpik (Legal)Equity - Grand Auzas & Associes, Sigmund Briant (Legal)Equity - Grant Thornton, Thierry Dartus (Financial Due Diligence)Management - Gatienne Brault et Associés, Gatienne Brault, Véronique Furnal (Corporate Finance)Management - L Lione & Associés, Florence Di Pace, Hervé Ries (Corporate Finance)

Sourced from: France unquote" 88 (Feb 2008)

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• Topics
• France
• Expansion
• Consumer
• France