Showroomprive launches $ 46 million in the capital increase
The French retail company has recently continued to issue new shares. This capital expansion is partly focused on the acquisition of small-scale companies. This is one of the crucial steps in achieving the goal of becoming the number one fashion retailer in the world.
The price will be 2.50 euros per new share / Ph.Pinterest
Acquisition of smaller companies
Showroomprive.com is a French e-commerce company, specializing in online flash sales. Founded in 2006, this site offers exclusive daily sales of famous brands. Its scope extends in
“Showroomprivé is where two worlds meet: fashion and webmarketing. Through this dual identity, we are reinventing how women discover – and purchase – fashion online.”
Since the beginning, revenue and profitability of the site have increased steadily. In 2015, Showroomprives net sales reached € 443M. Its average annual growth rate is up to 28%. The company has a net sales target of € 750M in 2018.
Recently, French fashion retailer Showroomprive has issued some new shares to raise about 40 million euros ($ 46 million). Part of this new capital will help fund small-scale acquisitions.
The price will be 2.50 euros per new share – a discount of 25% on Showroomprives closing price of 3.35 euros on 30 November.
Carrefour France, who bought a 17 percent stake in fashion retailer Showroomprive.com for 79 million euros from Conforama furniture, added that part of the proceeds will be used to buy full control of French online beauty products firm ‘Beauteprivee’.
This is a bold move by the retailer. However, it is also a must. As you grow, be aware of opportunities to expand your business. Lets hope and support for the development of this retail company.
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