InfoAnda - Flash sales pioneer Vente-Privee targets U.S. |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

South Korea asks banks to pay back foreign debt | 20 August 2009
China's Xinjiang to get $1.5 billion boost | 5 May 2010
One dead, 200 wounded in Yemen clashes | | 16 March 2011

Iran tests home-built anti-aircraft system: report | | 24 September 2012

Forum Views () Forum Replies ()

Read more with google mobile : Flash sales pioneer Vente-Privee targets U.S. |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? World Video Politics Politics Home Front Row Washington Politics Video Technology Technology Home MediaFile Science Tech Video Opinion Opinion Home Chrystia Freeland Felix Salmon Jack Shafer Breakingviews David Rohde Bernd Debusmann Gregg Easterbrook Nader Mousavizadeh James Saft David Cay Johnston Edward Hadas Christopher Whalen Ian Bremmer Mohamed El-Erian Lawrence Summers The Great Debate Unstructured Finance Newsmaker Money Money Home Analyst Research Global Investing MuniLand Reuters Money John Wasik Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Life & Culture Health Sports Arts Faithworld Business Traveler Left Field Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read WRAPUP 2-Thai floods to slash growth, crisis not over for Bangkok 8:42am EDT Discussed 241 Who’s behind the Wall St. protests? 157 Alabama immigration law decried, applauded as some flee state 95 Obama jobs roadshow seeks to tap anti-Wall St anger Watched Japanese airline, ANA, apologises for plane flip Fri, Sep 30 2011 Indy 500 champion Dan Wheldon dies after fiery crash Mon, Oct 17 2011 Rihanna's "inappropriate" outfit halts music video Tue, Sep 27 2011 Flash sales pioneer Vente-Privee targets U.S. Tweet Share this Email Print Related News Online flash sales less flashy as inventory shrinks Mon, Oct 17 2011 Analysis & Opinion Tech wrap: Apple’s “Siri” spurs iPhone 4S sales Deutsche may not escape state grip in forced recap Related Topics Technology » Media » By Leila Abboud PARIS | Tue Oct 18, 2011 4:20am EDT PARIS (Reuters) - Vente-Privee, the French start-up that pioneered the now much-imitated model of on-line flash sales, plans to launch its U.S. website by mid-November in partnership with American Express and aims to reach $500 million in sales in the ultra-competitive market in the next five years. Founder and Chief Executive Jacques-Antoine Granjon told Reuters the joint venture with the credit card group would give Vente-Privee access to an affluent client base of 40 million card holders, giving it instant credibility and brand recognition despite not being a household name outside Europe. But success in the U.S. is far from certain. Vente-Privee is arriving years after imitators of its flash-sales model such as Gilt Groupe and Rue La La, and also faces e-commerce giants such as Amazon, which recently launched a daily deal service hawking local merchants and restaurants. Unlike in France where sales are limited legally to twice-yearly set periods, U.S. consumers are used to getting deep price cuts on merchandise in factory outlet stores and discount chains such as T.J. Maxx and Marshalls. "The U.S. market is a difficult one where discounting is already very common, so we will have our work cut out for us," said Granjon, whose wavy long hair and habitual uniform of jeans and chunky silver skull-shaped rings belie his status as one of France's most respected entrepreneurs. "But we have big ambitions, and if we have the right offering and excellent brands, things will take off quickly." To conquer the U.S., Granjon said Vente-Privee would stick closely to its formula of selling luxury goods to price-conscious fashionistas in two- to six-day sales, while helping major brands like Armani and Diesel liquidate unsold stock. The approach has put the decade-old company on track to hit more than 1 billion euros in sales this year and turned it into one of Europe's biggest homegrown on-line retailers with a presence in six countries, including France, Germany, Spain, the UK and, from next week, the Netherlands. Vente-Privee, which has been profitable since 2004, has also been the subject of frequent speculation about an initial public offering or a takeover by a U.S. giant like Amazon. Granjon dismissed both scenarios, saying the company could afford to expand abroad without outside funds given its 150 million euros in cash and healthy 7 percent profit margins. "I've never raised money and I don't need to now," he said. BUCKING TREND Granjon and the other founders own 80 percent of the group, which was valued at about 1 billion euros ($1.38) when U.S. private equity fund Summit Partners took a 20 percent stake in 2007 and could be worth three times that, according to analysts. But the e-retailer has so far struggled to replicate its success beyond France, where it earns more than three-quarters of sales, and has seen its model cloned by rivals like Spain's Privalia, Germany's Brands4Friends and the UK's Brand Alley. Vente-Privee hopes to buck that trend in the United States by teaming up with American Express. After more than a year of negotiations, the two agreed in March to invest $15-20 million each in the joint venture. Soon after, they hired former Google executive Mike Steib to run the business and are on track to hire some 200 staffers for the New York headquarters by Christmas. The company has a batch of 30 flash sales ready for the upcoming launch of the U.S. site, Granjon said. Especially in the first few months, Granjon said Vente-Privee would showcase fashion from top brands to win the loyalty of new consumers. The company must also convince U.S. companies to sell unsold inventory on the site at a time when competition for such stock is intensifying. Granjon said the company planned to draw on the strong ties it already has with European brands such as Spanish shoemaker Camper and Italian designer clothes company Diesel, as well as signing up major U.S. retailers like the Gap. Asked what brands he was targeting, he referred to downtown Manhattan's Soho district: "Think of the square of streets down there between Houston and Canal and West Broadway and Lafayette. I want all the brands that are there." In a separate interview, Vente-Privee's Steib said the site would offer 60-65 percent discounts on average and estimated such private sales in the U.S. would be a $1.5 billion market this year and grow to $5-6 billion in the next five years. (Additional reporting by Marie Mawad, Gwenaelle Barzic and Alistair Barr; Editing by James Regan) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 18 October 2011
Fanfare masks doubts on U.S. anti-rebel push in Africa |
Kari carrying Stars: Goalie Lehtonen's led Dallas with outstanding efforts
From a single hashtag, a protest circled the world |
White House pushes teacher funding as Senate reconsiders jobs bill
Sick American researcher finally evacuated from South Pole
Smoking linked to earlier menopause
Giuliana Rancic reveals she has breast cancer
White House throws weight behind Occupy Wall Street protestors
Occupy D.C. Protesters March Again in Washington Against Evictions
Al Shabaab sends warning message to neighboring Kenya
Al Shabaab sends threatening message to Kenya
At his very Best: Jahvid's rushing talents spark 5-1 Lions
Venezuela blocks Chavez rival's presidential bid |
Putin hints Medvedev PM job not a done deal |
IBM meets Q3 expectations, raises outlook |
From a single hashtag, a protest circled the world |
Ceglia told lawyer to ignore Facebook court order: filing |
Accused LulzSec hacker pleads not guilty in Sony breach |
HTC loses early U.S. decision vs Apple |
Elizabeth Taylor remembered by Hollywood friends |
Madoff daughter-in-law: I'd spit in his face |
Susan Sarandon calls Pope Benedict a Nazi: report |
French judge gives L'Oreal heiress's daughter control |
Hamas releases Israeli soldier in prisoner swap: Hamas source |
Kenya arrests two British citizens crossing into Somalia |
NTC forces celebrate capture of Gaddafi bastion Bani Walid |
Ohio State lineman John Simon named Big Ten Defensive Player of the Week
Broncos deal wideout Brandon Lloyd to Rams for draft pick
Fukushima victims: homeless,desperate and angry |
Somali rebels bolster defenses in Afmadow, residents flee |
From a single hashtag, a protest circled the world |
Taliban must give up arms before talks: Pakistan |
Thais count floods cost, Bangkok warned crisis not over |
China police fire on Tibetans, nun burns to death: group |
IBM's Q3 disappoints, stock drops |
Apple earnings to showcase iPhone strength |
From a single hashtag, a protest circled the world |
Oracle competitor Tidemark launches, wins more cash |
EBay's Marketplaces growth to dominate |
HTC says confident in suit vs Apple after early court loss |
Siri's popularity causes iPhone connection problems |
Ceglia lawyer withdraws from Facebook lawsuit |
EBay CEO lifts PayPal mobile payment forecast |
U.N. rights office against proposed Saleh immunity |
Afghanistan's Rabbani sought suicide ban: daughter |
Venezuela's Chavez upbeat over Cuba cancer checks |
Heavy rains kill at least 84 in Central America
China sets in motion plan for 2012 succession meeting |
Exporters armed Arab Spring crackdown
Greece braces for shutdown as austerity vote nears |
Yani Tseng locks up Player of Year as LPGA debuts in Taiwan
Jets stop slide with win over Dolphins but still have room to improve
Uganda cracks down on opposition, arrests leader |
U.S. stocks open down Tuesday as data out of China disappoints
Revamped Flyers hope van Riemsdyk drives team deep into playoffs
Tempted with a phone to carry a gun
Suicide car bomber kills 6 in Somali capital |
Major headaches for Egyptian water planners
Veteran activists disillusioned with direction of HIV response
Canadian Municipal Federation targets cut in travel time for commuters
Analysis: Samsung's big idea? Upsetting the Apple cart |
UK-U.S. extradition review deals blow to hacker |
Flash sales pioneer Vente-Privee targets U.S. |
Elizabeth Taylor remembered by Hollywood friends |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01