On March 13th, because of “Successful Experiences of Internationalization Workshop” organized by Global MBA International Business Management, MADI, Fernando Maudo, Vente Privee General Manager in Spain will tell us how has been this expansion process and the plans they have in the future for continuing with their growth.
What Vente Privee is?
In 2001 appears in the market Vente Privee, a French Company that was going to revolutionize the sales by Internet. Its business model consists of selling products in stock of different brands through a digital platform. The aim of the firms collaborating with Vente Privee is to eliminate their stocks by offering a discount. The products are only available to the Vente Privee members and only for 3 or 5 days.
Taking into account the dynamism of the online market, Vente Privee is always introducing changes. On one hand, they have diversified the portfolio. The company collaborates with 2600 brands, selling products such as prêt-à-porter, fashion accessories, toys, furniture, travels, food, etc. On the other hand, they have developed different innovations related to sale models.
The last one is the Oneday concept that consists of selling a product only for one day. This product has a discount but also a reduced delivery term of 48 hours. Lastly, it is also remarkable the development of software applications. If in 2010 they launched a mobile application, is in 2014 when they have improved the usefulness and browsing with new apps available in iPhone, iPad and Android. This has implied that downloads in Europe has risen to six million and the turnover via mobiles involved a 40% in 2014.
Vente Privee at international market
This firm operates in different markets. In Europe is in 8 countries: France, Spain, Germany, Italy, Belgium, The Netherlands, Austria and United Kingdom. Moreover, Vente Privee has logistic platforms in Germersheim (Germany), Madrid (Spain) and in Turín (Italy), which allows them to serve the different markets in which they distribute products and optimize costs. Nevertheless, more countries are in their minds. Nowadays, around 22 million of members belong to Vente Privee in all Europe.
In Spain, specifically, the number of members rises to 3 million, which implies putting Vente Privee Spain in the top ten of the e-commerce in terms of public. In USA they were operating via a Joint Venture with American Express, where they reach 50 million USD in 2013. However, this alliance was broken in 2014 and Vente Privee has decided to focus in the European region.