Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Showroomprive Raises $280 Million After IPO Priced at Low End

Online retailer Showroomprive and its owners sold shares for 256 million euros ($280 million) in an initial public offering to help fund expansion beyond France.
By
  • Bloomberg

PARIS, France — Online retailer Showroomprive and its owners sold shares for 256 million euros ($280 million) in an initial public offering to help fund expansion beyond France as domestic competition from bigger rivals such as Vente-Privee.com SA and Amazon.com Inc. intensifies.

Based on the offering price of 19.50 euros per share, Showroomprive’s market value is about 660 million euros, the company said in an e-mailed statement. That price is at the low end of the range of 19.50 euros to 26.30 a share it announced earlier this month.

Deezer, another French startup, this week postponed its IPO project, citing market conditions. Deezer, which sells music streaming packages, said it will review other fundraising options.

“We’re happy with the result especially as many IPOs have been canceled or pushed back because of a bad market,” Showroomprive co-Chief Executive Officer Thierry Petit told Radio Classique on Friday. “We saw during the roadshow that investors like our model, even in a complicated context like this one.”

ADVERTISEMENT

French flash-sales sites, which offer goods at a discount for a limited period online, are targeting shoppers in neighboring countries to cope with a crowded market at home. Showroomprive has said it plans to use the funds to grow outside its domestic market and possibly for acquisitions. France made up 85 percent of Showroomprive’s sales last year, Petit said.

In the IPO, Showroomprive raised 50 million euros through a share capital increase, while existing shareholders sold stock for about 176 million euros. In addition, China’s Vipshop Holdings Ltd. invested 30 million euros, Showroomprive said. The stock is expected to start trading in Paris Friday.

Rothschild & Cie acted as financial adviser in the IPO.

By Marie Mawad; editors: Kenneth Wong, Kim McLaughlin.

In This Article
Organisations
Tags

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.


The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections