Jan 2, 2014
Qatar Holding becomes minority shareholder in
Jan 2, 2014
Qatar Holding, the direct investment arm of Qatar Investment Authority which owns British department store Harrods, has become a minority shareholder in French online retailer Vente-Privée.com. Founder Jacques-Antoine Granjon has also increased his ownership in the company to close to 25%, according to French newspaper, Le Monde.
Qatar Holding joins US-based growth equity firm Summit Partners, who entered as a minority shareholder back in 2007.
"I am very pleased to welcome Qatar Holding, alongside Summit Partners. 13 years ago when vente-privee.com was founded, I would never have imagined that today we will be reaching the 3rd cycle of our development to establish our European leadership, or that we would one day gather esteemed investors sharing my vision of entrepreneurship and long-term development. It is also in this ambition and this perspective that I decided, with the full agreement of my partners, to strengthen my position in the capital. Our project is more than ever very exciting," says Jacques-Antoine Granjon, CEO and founder of Vente-privée.com.
Founded in 2001, Vente-Privée generated €1.3 million gross turnover in 2012, with an estimated €1.5 million in 2013.
Bruno Joly (English version by Lauren Walker)
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