Vente Privée, the biggest private sales site in the world which is profitable on over a billion dollars in revenues and wants to reach 15 billion, is getting closer to that step with its Digital Commerce Factory. It’s a service business where they will take over the e-commerce experience from luxury brands, from the website to product delivery. It’s a hugely ambitious plan.
It’s a brand new business for them, but it’s in character. Vente Privée’s founder Jacques-Antoine Granjon likes to explain that his company isn’t a B2C business but a B2B business whose job is to help the luxury brands whose overstock it sells. Despite having inspired countless copycats, Vente Privée has retained its huge European leadership, in large part because it has exclusive deals in place with the best fashion and luxury brands. So on top of the money, this service should help Vente Privée lock in brands even more tightly.
But it also makes sense for the brands themselves. E-commerce is a very tricky business where expertise doesn’t come cheap, and most brands might not have them in-house. And nowadays many luxury brands are realising that the internet is an important sales channel, after spurning it for many years for not being exclusive enough. So there’s potential for everyone to win, here.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.