×
31 912
Fashion Jobs
ROSS STORES
Store Protection Specialist
Permanent · La Habra
L BRANDS
Asset Protection Officer, Morse rd (2nd Shift 3pm - 11pm)
Permanent · Columbus
BATH & BODY WORKS
sr. Manager, Carrier Strategy
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Crystal Mall
Permanent · Waterford
L BRANDS
Asset Protection Officer, Morse Crossing - 3rd Shift (11pm-7am)
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Coconut Point
Permanent · Estero
BATH & BODY WORKS
District Manager - Bath & Body Works - North Austin - Austin, tx
Permanent · Waco
VICTORIA'S SECRET
Brand Operations Manager-Valley West
Permanent · West Des Moines
L BRANDS
Asset Protection Officer, Broad st -1st Shift 7am-3pm
Permanent · Reynoldsburg
L BRANDS
Asset Protection Officer, New York City
Permanent · New York
BATH & BODY WORKS
Senior HR Generalist - Home Office
Permanent · Reynoldsburg
VICTORIA'S SECRET
Brand Operations Manager-White Marsh
Permanent · Baltimore
VICTORIA'S SECRET
Asset Protection Investigator, Victoria's Secret (Southland Mall - Hayward, ca)
Permanent · Sacramento
PINK
Brand Operations Manager-Solano
Permanent · Fairfield
VICTORIA'S SECRET
Product Owner
Permanent · Reynoldsburg
ESTÉE LAUDER COMPANIES
Manager, Creative Operations, Creative Content Hub, North America
Permanent · New York
ESTÉE LAUDER
Director, Ecommerce, North America - dr.Jart+
Permanent · New York
JCPENNEY
Product Manager - Site Management Tools & Cms
Permanent · Plano
JCPENNEY
Financial Planning Senior Analyst - Stores Finance
Permanent · Plano
JCPENNEY
Central Investigations, Crisis Response / Remote Monitoring Technician - Asset Protection
Permanent · Plano
FOOT LOCKER
Senior Product Manager (Membership)
Permanent · Chicago
FOOT LOCKER
Security Guard
Permanent · New York
Translated by
Robin Driver
Published
Jan 11, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Carrefour buys 17% stake in Showroomprivé from Steinhoff

Translated by
Robin Driver
Published
Jan 11, 2018

The online flash sale platform has announced a strategic partnership with Carrefour, which has sealed the deal by buying the 17% stake acquired by Conforama – a subsidiary of the Steinhoff group – last summmer. The aim is to establish an omni-channel strategy that incorporates retail, marketing, logistics and data management. 

Shares in Carrefour were up 0.3 percent in early session trading on Friday after the announcement, outperforming a flat performance on the broader European retail sector.



Thierry Petit and David Dayan, founders of the flash sale platform - ShowroomPrivé.com



"This partnership is a new step in the acceleration of our digital strategy, in an omni-channel approach," stated chief executive of Carrefour Alexandre Bompard in a release, "It also allows Carrefour to enter the online private market and strengthen its offering. I am convinced of the quality of Showroomprivé's management and the strong potential resulting from the operational cooperation between our two groups.”

This announcement comes at a time when the Steinhoff group must stave off the doubts of its creditors, having admitted that it was unable to provide an estimate of its accounting irregularities, or even a deadline for the presentation of its 2017 accounts and re-audited 2016 financial statements. 

Its stake in Showroomprivé was sold to Carrefour at 13.5 euros per share, for a total of 79 million euros. Carrefour maintains the shareholders' agreement established with Steinhoff: the founders of the platform, David Dayan and Thierry Petit, hold 27.17% of Showroomprivé's capital and 40.42% of voting rights, while Carrefour holds 16.86% of capital and 13.37% of voting rights. 

"An additional payment will be made by Carrefour to Conforama should Carrefour launch a takeover bid for Showroomprivé within eighteen months of the completion of the transaction", the release specified, "This additional payment will be equal to the difference between the offer price per share made by Carrefour and the acquisition price (13.5 euros), multiplied by the number of shares sold by Conforama."

Is this the prelude to a majority acquisition of Showroomprivé by Carrefour? The online platform launched its IPO in 2015, and has 28 million shareholders in France and eight other countries, for a net revenue of 540 million euros in 2016 (+22%). This represents an attractively strong online presence for Carrefour, which generated 103.7 billion euros of revenue in 2016 and operates 12,000 stores. 

In this light, it is worth bearing in mind that the new transaction occurs in a retail environment which is witnessing growing numbers of traditional brick-and-mortar retailers teaming up with companies operating in e-commerce. 

Carrefour CEO Alexandre Bompard, who took over last July as head of the world’s largest retailer after Walmart, will unveil his strategy for the group on Jan 23.

Investors want Bompard to boost the performance of the group’s France-based hypermarkets, a goal that has eluded several predecessors amid competition online and price discounting from rivals such as unlisted Leclerc. They also want him to do more in terms of digital and online businesses.

With additional reporting from Reuters

Copyright © 2021 FashionNetwork.com All rights reserved.