Second-hand fashion & luxury marketplace Videdressing sold to leboncoin Groupe (Schibsted Group [NO:SCHA]).
- With this strategic move, leboncoin positions itself as major player in the online fashion market in France and will be able to capitalize on Videdressing’s brand, transactional expertise and technology.
- The transaction highlights Clipperton’s expertise in digital marketplaces following the sale of online travel platform Musement to TUI Group [TUI.AG] announced last month.
Paris, November 22nd 2018 – European corporate finance firm Clipperton is pleased to announce its role as exclusive financial advisor to the shareholders of Videdressing.
Founded in 2009, Videdressing is the first collaborative platform dedicated to purchasing and resale of second-hand fashion and luxury items (bags and leather goods, clothing, shoes and accessories) created in France. With 1 million online ads, 25,000 transactions and 3 million unique visitors monthly, Videdressing achieved a turnover of approximately 35 million euros in 2017.
The marketplace acts as a trusted third-party to connect sellers and buyers. It also offers a range of value-add services such as online payment, conformity and anti-counterfeiting checks, delivery as well as satisfied of money back guarantees, in return for a commission charged on the transaction.
The transaction fits with leboncoin Groupe’s strategy to build vertical platforms on its various markets and will enable the group to reinforce and accelerate on the fashion vertical. It will reinforce the clothes, shoes, watches, jewelry and accessories categories of its platform which already represent a total of 2.5 million unique monthly visitors and approximately 18% of its 28 million online ads.
Commenting on the transaction, Antoine Jouteau, General Manager of leboncoin Groupe said: “The merger will allow us to pool our respective strengths, and combine Videdressing’s technical skills with the power of our generalist platform. Videdressing notably has a very advanced expertise on functionalities related to the payment and delivery. Knowledge sharing will enable us to provide our users with an enhanced experience on our fashion categories, which are among the most popular.”
Jérémy Delorme, President of Videdressing added: “We look forward to this alliance, which will allow two pioneers of the collaborative economy to develop new services for the benefit of consumers. Our platforms share a common ambition that is to facilitate transactions between individuals. Since their early days, both Videdressing and leboncoin are committed to improving the purchasing power of French consumers and the merger is part of this dynamic”.
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Clipperton is a leading European corporate finance advisory firm exclusively dedicated to the Technology & Internet industries, advising innovative companies on M&A transactions, debt financings and equity offerings. With offices in London, Paris, and Berlin and an international reach, Clipperton is a European top-tier player in technology financial advisory. Over the past 15 years, the team has successfully completed more than 250 high profile transactions globally. For more details please visit www.clipperton.net