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  SHOWROOMPRIVE company press release from 31/05/2022

  31/05/2022 - 17:50

SHOWROOMPRIVE COMPLETES THE ACQUISITION OF THE BRADERY


La Plaine Saint Denis, May 31, 2022 – Showroomprivé (SRP Group), a European group specialising in smart shopping, today announces it has completed the acquisition of a majority stake in The Bradery, an extremely fast-growing player in the premium flash sales market, primarily targeting millennials.

Showroomprivé has completed the acquisition of a majority stake (51%) in The Bradery, with the option of acquiring the remaining 49% by 2026.

With this acquisition, the Group consolidates its strategy of becoming the Go-to platform for smart shopping by bringing together platforms with complementary positioning: Showroomprivé.com as a generalist player, Beauté Privée as a specialist in the promising beauty segment, and The Bradery in the fast-growing millennials and premium fashion segment.

With an extensive community made up of over 200,000 buyers and having worked with over 400 brand partners, The Bradery is among the newest entrants in the flash sales market. With a clear positioning on the millennials and the premium market segments, The Bradery stands out as one of the sector's most dynamic player. Since its inception three years ago, The Bradery has made remarkable inroads in its sector, already achieving nearly €30 million in GMV1. Predominantly active in France, the Company has launched its expansion into Spain and Belgium.

Founders Edouard Caraco and Timothée Linyer, along with their teams, will continue to manage the company and build the platform on the back of the strong business momentum. With the aim of doubling its GMV within three years, the transaction is expected to be accretive by 2024. The Bradery will continue to develop under its own brand name, with its current management team.

KPMG performed the financial due diligence and T&A Associés acted as legal advisor to Showroomprivé. Cambon partners acted as financial advisor and White & Case acted as legal advisor to The Bradery's shareholders.

UPCOMING INFORMATION

  • General Meeting: 22 June 2022
  • H1 2022 results: 28 July 2022

FORWARD-LOOKING STATEMENTS
This press release contains only summary information and is not intended to be comprehensive.
This press release may contain forward-looking information and statements about the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "goal" or similar expressions. Although the Group appreciates that the expectations reflected in such forward-looking statements are reasonable, investors and the Group's shareholders are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group, which could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in filings with the Autorité des Marchés Financiers (France's financial markets authority) made or to be made by the Group (particularly those detailed in Chapter 4 of the Company's registration document). The Group makes no commitment to publicly update its forward-looking statements, whether as a result of new information, future events or otherwise.

ABOUT SHOWROOMPRIVE
Showroomprivé is an innovative European player in the online private sales industry, specialized in fashion. Showroomprivé offers a daily selection of more than 3000 brand partners via its mobile apps or website in France and six other countries. Since its launch in 2006, the company has enjoyed quick growth.

Showroomprivé is listed on Euronext Paris (code: SRP) and reported gross revenue of almost €1 billion incl. VAT[1] in 2021, and net revenue of €724 million. The Group is headed by David Dayan, the co-founder, and employs over 950 people.

For more information: https://showroomprivegroup.com

CONTACTS

Showroomprivé
Sylvie Chan Diaz, Investor Relations
investor.relations@showroomprive.net
Taddeo
+33 6 58 53 45 91
presse.showroomprive@taddeo.fr
Priscilla Le Minter, Communication
priscilla.leminter@showroomprive.net
+33 1 76 21 50 16
 

[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 income


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  Original Source: SHOWROOMPRIVE