Qatar Holding LLC, the global investment house founded by the Qatar Investment Authority, which recently acquired the luxury department stores Printemps and Harrods, has become a minority shareholder in French online retailer Vente-Privée.com.
Qatar Holding joins Summit Partners, an US-based growth equity firm, which also owns a minority stake of the French e-commerce company. According to Le Monde, Jacques-Antoine Granjon, CEO and Founder of Vente Privée, has an ownership in the company close to 25%.
“I strengthen the capital of the company by buying shares, and I still keep the full control over the company, together with my associates,” Granjon explained. He further added that the entrance of Qatar Holding among the shareholders of Vente Privée was not accompanied by an increase of the company’s capital.
Founded in 2001, Vente-Privée is based on so-called online ‘flash sales’ (short-term sales) of overstock items from fashion, accessories, and leather good brands, and eventually added travel sales to its portfolio, amongst other lifestyle related products. For 2013, the French e-commerce company generated an estimated gross turnover of €1.5 million (AED/SAR 7.4 million).
