Vente-privee took another step toward expanding its European reach today when it announced the acquisition of Spanish e-commerce site Privalia.
While the acquisition price for Barcelona-based Privalia was not disclosed, the news was confirmed in a blog post by Index Ventures. Privalia is popular in Spain and Italy, but it had also recently expanded to Brazil and Mexico.
The post also notes that Vente-privee took a majority stake in Switzerland’s eboutic.ch.
“This new step in our development is part of our long-term vision for the company,” said Jacques-Antoine Granjon, CEO and founder of Vente-privee, in a statement. “We are very respectful of the work done by the founders and leaders of these sites, and are very pleased to have their support and expertise in the pursuit of our common European adventure.”
Founded in 2001, Vente-privee has been one of France’s bigger startup success stories over the years, pioneering the online “flash” sales model. However, the company’s golden run hit a wall in 2014 when it announced a U.S. expansion with American Express as a partner. That move failed, and the venture was closed down last year.
After regrouping, Vente-privee apparently decided to focus on moving deeper into European markets through acquisitions. The company hired former investment banker Charles-Hubert de Chaudenay, and last September acquired Belgium’s Vente-exclusive.com.
In its press release, Vente-privee signaled its intention to continue consolidating the European e-commerce market.
“We observe that the European market is both fragmented and mature enough that ‘virtuous’ reconciliations take place and therefore allows to serve the best experience, tailored to each market,” Granjon also said in a statement. “We are therefore investing at a key stage for this market development.
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