![\"article_jacques_antoine_granjon\"](\"https:\/\/www.rudebaguette.com\/assets\/article_jacques_antoine_granjon.jpg\")
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The French company that coined “Flash sales,” a phenomenon that has been cloned around the world by the likes of Gilt Groupe and others, has\u00a0announced it will discontinue activity in the United States just a few\u00a0years after launching a joint venture with American Express<\/a>. Vente Priv\u00e9e has built a powerful eCommerce business in France, where it sees 80% of its \u20ac1.6 Billion coming in, built off the back of a workaround to the regulation prohibiting retail stores from\u00a0having Sales outside of the bi-annual 3-week periods dictated.<\/p>\n As reported on Fortune<\/a>, American Express & Vente Priv\u00e9e had poured $20 Million each into the venture. Sources close to the joint venture say that conflicting culture between the US joint venture and Vente Priv\u00e9e’s founder, Jacques-Antoine Granjon, played a large role in the venture’s failure:<\/p>\n “The founders would hand-pick executives for roles, causing the U.S. team to reshuffle their organization to accommodate, only to have the new hires change their minds. A former employee says the most telling symbol of the culture at Vente-Priv\u00e9e is a mural Granjon commissioned from artist David Mach. It features Granjon and his board as Jesus and the apostles at The Last Supper.” – Fortune<\/a><\/p><\/blockquote>\n In France, Vente Priv\u00e9e is often cited as one of the greatest startup successes; however, the company’s inability to export itself (its\u00a0makes up just 20% of its revenue) demonstrates clearly that the company, like\u00a0many French giants, rode the wave of legislative protectionism to\u00a0carve out a place in the market. Would Vente Priv\u00e9e be able to compete with regulation around retail sales weren’t so heavy in France? Likely, today; however, their inability to make it work in the US shows the disconnect between the company and the global economy that is the Internet.<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The French company that coined “Flash sales,” a phenomenon that has been cloned around the world by the likes of Gilt Groupe and others, has\u00a0announced it will discontinue activity in the United States just a few\u00a0years after launching a joint venture with American Express. Vente Priv\u00e9e has built a powerful eCommerce business in France, where<\/p>\n","protected":false},"author":77,"featured_media":27279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"subtitle":"","footnotes":""},"categories":[10563],"tags":[],"class_list":["post-27277","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tech"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts\/27277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/comments?post=27277"}],"version-history":[{"count":0,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts\/27277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/media\/27279"}],"wp:attachment":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/media?parent=27277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/categories?post=27277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/tags?post=27277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}