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July 19, 2007
BuyVIP Continues Private Shopping Club Momentum
We covered pan-European exclusive (invite-only) Internet shopping site, BuyVIP, a few months back when we spotted a Euro trend in online shopping clubs. Today 3i announced an investment in BuyVIP.
BuyVIP offers luxury fashion and lifestyle brands to registered users. BuyVIP has German and Spanish language versions of its site. In March it raised €2M from MCI (a family office advised by Active Capital Partners), Grupo Intercom (VC arm of Spanish Internet holding co.) and a pool of investors represented by Valkiria Network International Holding. It was founded by Gustavo Garciá Brusilowsky and Gerald Heydenreich. The two previously build PORTUM, an auction and procurement platform that did €5B in turnover, which was acquired by IBX Europe in 2006.
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This is the latest early stage investment for 3i's global venture capital team who will bring 3i's retail experience (Gant, Interflora, Hobbs, Defimode, Home Decor, PCDStores, Republic) to help BuyVIP to expand from its Spanish, German and Italian bases.
The startup was founded in Madrid in 2006 and has seen great growth. In March they told us they had 200K members and now they say the number is up to 500K. They peg the growth rate at 70K members and over 40 campaigns each month. Its campaigns offer luxury branded products from Joop, DKNY, Apple, Alessi, Mandarina Duck, Nike, Puma and Columbia and others.
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Posted on July 19, 2007 04:58 PM | Posted to eCommerce | Permalink
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