Summit-backed Vente-privee buys Privalia, Eboutic.ch

Backers of Spain's Privalia include General Atlantic, with a 34.66% stake, Highland Capital (14%), Sofina (8.59%) and founders Lucas Carné and José Manuel Villanueva (5.95% each).

Index Ventures, Insight Ventures, Nauta Capital and Caixa Capital Risk had also been invested in the business. The deal saw Vente-privee wholly acquire the Spanish business. As part of the deal, founders Carné and Villanueva will remain part of the management board; the company will maintain its brand and will continue to operate autonomously.

Eboutic.ch's previous owner, Maus Frères Group, will retain a minority stake in the business, alongside its founders Arthur Dauchez and Laure de Gennes, who will remain in the company as directors.

Previous investment
In 2006, Privalia raised a €400,000 seed round from Caixa Capital Risc and in 2007, Cabiedes Group led a €2.5m series-A round alongside existing investors.

In 2008, Privalia raised a €4m series-B round led by Nauta Capital. The round enabled the company to expand internationally, strengthening its position in Italy as well as launching operations in Brazil.

General Atlantic, Highland Capital and Index Ventures invested €70m in the company in 2010. The capital increase allowed the company to growth both organically and through acquisitions in Europe and Latin America.

In 2011, General Atlantic led an €88m funding round alongside existing investors Highland Capital, Index Ventures and new investor Insight Venture. The funding allowed the company to acquire German competitor Dress for Less from buyout house Palamon Capital.

Sofina led a €25m round in 2013 to boost the company's expansion in Latin America, with a particular focus on Mexico and Brazil. Existing investors General Atlantic, Highland Capital, Index Ventures, Nauta Capital, Insight Venture and Caixa Capital Risc also took part in the round.

Company
Established in 2006, Privalia is an online fashion retailer based in Barcelona. The business claims 28 million registered users on its online platform. It generated a turnover of €415m and a €18m EBITDA in 2014 and employs 900 people. The company claims it has quadrupled its revenues since 2010.

Eboutic.ch was founded in 2007 and is headquartered in Lausanne, Switzerland. The business offers an online sales platform dedicated to several sectors, including fashion, sports, home, children, high-tech, travel and leisure. The company employs 50 people.

Founded in 2001 and headquartered in Paris, Vente-privee operates in the online retail sector and specialises in helping brands manage their excess stock. The company generated €2bn of revenues in 2015 and employs 2,800 people across eight European countries.

People
General Atlantic – Gabriel Caillaux (managing director).
Vente-privee.com – Jacques-Antoine Granjon (founder, CEO).
Privalia – Lucas Carné, José Manuel Villanueva (co-founders).
Eboutic.ch - Arthur Dauchez, Laure de Gennes (co-fouders).

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