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  SHOWROOMPRIVE company press release from 21/10/2021

  21/10/2021 - 18:00

Change of governance at Showroomprivé


PRESS RELEASE
21 October 2021

CHANGE OF GOVERNANCE AT SHOWROOMPRIVÉ

La Plaine Saint Denis, 21 October 2021 – Showroomprivé (SRP Groupe), a leading European online retailer for the Digital Woman, announces a change in its governance and managerial organisation effective from 1 January 2022.

This managerial reorganisation follows the enlargement of the Executive Committee to support senior management. This Comex has greatly contributed to the success of the 2018-2020 Performance Plan and to the rapid turnaround of the Group that has now been achieved.

In this context, the Group co-founder Thierry Petit has decided to step down from his operational functions as of 31 December 2021 to devote to personal projects. Thierry Petit will continue to be engaged as a board member and has been appointed Vice Chairman of the Board of Directors. As such, he will continue to render his strategic vision and extensive knowledge of the sector to the Group. He also remains a core shareholder of the Group within the existing sub-concert between the founders.

David Dayan, who co-founded the Group alongside Thierry Petit, will stay on as Chairman and CEO and François de Castelnau, currently Chief Financial Officer, will become Deputy CEO as of 1 January 2022. 

Thierry Petit said: “I am very proud of how far Showroomprivé has come in the last 15 years with David and our teams alongside, to become a leading e-commerce player in France. This is a well-considered decision taken with confidence and care alongside David. The Group is in very good hands operational wise. David, François and the Comex will be able to rely on solid teams that have proven their ability to lead the Group's sustainable growth over the last two years. Showroomprivé now has a solid financial structure and has entered into a profitable development dynamic in the long term. It is therefore the right time for me to hand over the reins and devote myself to personal projects and other activities that I already carry out in parallel. I have every confidence in the successful continuation as well as the execution of our business plan as well as the Group's ability to meet the challenges of tomorrow. I will, of course, remain involved in the Group's strategic decisions as Vice Chairman of the Board of Directors and by my position as a core shareholder.”

David Dayan added: “This is a new chapter for Showroomprivé even though Thierry will remain highly engaged in the Board of Directors and as a core shareholder. I would like to thank him for the last 15 years of work together, growing the company from a start-up to one of the most visited French e-commerce sites. I am fully committed to the continued development of the Group. François de Castelnau joins me as Deputy CEO, a decision that has come naturally given his successful involvement in the Group's turnaround and renewed dynamism since his arrival in 2019. François has held previous senior management positions during his career and will rely on an experienced and renewed Executive Committee. We share the same strategic vision, and we are both convinced that the Group has all the assets it needs to continue its growth over time.”

François de Castelnau concluded: “I am very proud to be appointed Deputy CEO and I thank the Board of Directors, especially David and Thierry for their confidence. Since my arrival in 2019, I have witnessed first-hand the tremendous internal energy of the Group, which despite a challenging environment, has evolved, regained its momentum and shown great resilience while achieving a rock-solid financial position. We will be able to continue to build on these strengths over the coming years. We have market shares to gain, customers to satisfy and we will further strengthen of our relationships with partner brands. To meet these challenges, the Group is now well organized and owns a powerful and agile asset base. The entire Executive Committee team is now committed to pursue our efficiency actions and achieve our roadmap, which aims to strengthen and increase our positions while creating value.”

UPCOMING INFORMATION

Annual results 2021: March 2022

FORWARD-LOOKING STATEMENTS

This press release solely contains summary information and is not intended to be detailed. This press release may contain forward-looking information and statements relating to the Group and its subsidiaries. These statements include financial projections and estimates and their underlying hypotheses, statements with respect to plans, to objectives and to expectations relating to operations that are still to come, to future revenues and services, and statements with respect to future performance. Forward-looking statements can be identified by the words “believe”, “anticipate”, “objective” or similar expressions. Even if the Group believes that the expectations reflected by such forward looking statements are reasonable, investors and shareholders of the Group are advised of the fact that the information and forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally out of the control of the Group, which could imply that the effective results and events can differ significantly and in an unfavourable manner from those that are communicated, implied or indicated by this information and these forward looking statements. These risks and uncertainties include those that are advanced or identified in the documents filed or that are to be filed with the Financial Markets Authority by the Group (in particular those detailed in chapter 3 of the universal registration document of the Company). The Group does not take on any commitment to publish updates of the forward-looking information, this whether subsequent to new information, to future events or to any other element.

ABOUT showroomprive.com

Showroomprivé.com is a European player in event-driven online sales that is innovative and specialized in fashion. Showroomprivé proposes a daily selection of more than 3,000 partner brands over its mobile applications or its Internet site in France and in six other countries.

Listed on the Euronext Paris market (code: SRP), Showroomprivé achieved a gross internet business volume[1] with all taxes included of more than 962 million euros in 2020, and net revenue of 698 million euros. The Group employs more than 950 people.

For more information: https://www.showroomprivegroup.com

Contacts

Showroomprivé ACTUS finance & communication
Sylvie Chan Diaz, Investor relations Grégoire Saint-Marc, Investor relations
investor.relations@showroomprive.net showroomprive@actus.fr
  +33 1 53 67 36 94
   
Priscilla Le Minter, Communication Manon Clairet, Press Relations
priscilla.leminter@showroomprive.net mclairet@actus.fr
+33 1 76 21 50 16 +33 1 53 67 36 73

[1] Gross Merchandise Volume (GMV) is the total amount transactions invoiced, including all taxes. It therefore includes gross online sales, including sales on the Marketplace, other services and other revenues.


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  Original Source: SHOWROOMPRIVE